Section 12(1)(a) Overseas Investment Act 2005
|Decision Maker||Minister of Land Information New Zealand & Associate Minister of Finance|
|Decision Date||21 July 2022|
|Pathway(s)||Benefit to New Zealand (Farmland benefit)|
|Investment||An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 115.0239 hectares more or less at 1596, 1581 and 1440 Lorne-Dacre Road, Mabel Bush, Southland.|
|Consideration||Withheld under section 9(2)(b)(ii) of the Official Information Act 1982.|
|Applicant||Horizon Flowers NZ Limited
|Vendor||Douglas John Sinclair and Karen Jeanette Sinclair as trustees Sinclair Family Trust
New Zealand (100%)
The Applicant is a New Zealand registered company that plants and processes tulip bulbs for export.
The Land is currently used for farming purposes (dairying, winter cow grazing and crop or feed production), and it adjoins the Applicant’s tulip bulb factory and is connected to its existing irrigation network. The Applicant intends to grow tulip bulbs on one-sixth of the Land on a rotational basis over six years. The balance of the Land will be leased to a neighbouring dairy farmer under a swap lease arrangement in exchange for the Applicant’s use of that farmer’s land.
The investment is likely to result in the creation of new jobs (to plant and harvest the bulbs), increased export receipts, greater productivity from the Land and from the Applicant’s existing processing and drying plant, additional investment in the form of increasing processing and drying capacity, and annual investment in converting grazing land to tulip bulb production.
Consent was granted to the investment because the economic benefits likely to occur as a result of the investment were considered to be substantial.