| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 15 August 2022 |
| Pathway(s) | Benefit to New Zealand (general benefit only) National interest assessment |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of the business operations and assets of Ohiwa Beach Holiday Park and leasehold interests (and a conditional option to renew those interests) in the land at 380 Ohiwa Harbour Drive, RD2, Ōpōtiki totalling 4.4305 hectares. |
| Asset value | Withheld under section 9(2)(b)(ii) of the Official Information Act 1982. |
| Applicant | Tasman Tourism New Zealand Limited United Arab Emirates (90%) Australia (10%) |
| Vendor | T & N Morgan Family Trust (leasehold interest) Ohiwa Holidays (2006) Limited (business assets) New Zealand (100%) |
| Background | The Applicant is a joint venture between an Australian private equity firm (with experience in the holiday park industry) and an investment company based in Abu Dhabi. The investment is part of a broader strategy to acquire, develop, and operate a portfolio of holiday parks offering tourism services to domestic and international visitors in New Zealand. The Applicant plans to introduce additional investment over a five year period for the construction of additional cabins at the holiday park. The flow-on effects of this investment are likely to include jobs (for construction works), improved domestic services (through improved facilities), increased export receipts (through an increase in international visitor numbers and visitor spend), and serve to advance the Government’s tourist strategy. The Minister of Finance has determined that the investment is not contrary to New Zealand’s national interest. |
| More information | Simon Peart / Emily Watt Chapman Tripp (Wellington) PO Box 993 Wellington 6140 |
See the attached assessment report linked below, which was published in response to an Official Information Act request: