| Decision |
Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | The Minister for Land Information and the Associate Minister of Finance |
| Decision Date | 7 December 2022 |
| Pathway(s) | Benefit to New Zealand (Benefit to New Zealand - Farm land) |
| Investment | Acquisition of 184.46 ha at 51 Cat Creek Road, Blenheim |
| Asset Value | Withheld under s 9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant |
Craigmore Permanent Crop No 12 Limited Germany (54.93%) Netherlands (18.63%) Hong Kong SAR (7.43%) United Kingdom (6.29%) Ireland (4.29%) Various (8.44%) |
| Vendor |
Peter Grant Bown and Beth Adell Bown New Zealand (100%) |
| Background |
The Applicant is a New Zealand limited partnership ultimately controlled by Craigmore Sustainables Management Group, a group of companies that has investments in New Zealand farmland and forestry assets. The Applicant intends to develop a vineyard to supply grapes to Marlborough wineries for processing into Sauvignon Blanc wine. The Applicant was previously granted consent in October 2022 (case 202200217) to purchase adjoining land for a similar investment. The investment is likely to result in new jobs, capital investment, increased export receipts, and advancement of government economic policies. The Ministers were satisfied that the benefit to New Zealand will be substantial and that the investor test has been met. |
| More information |
Christina Lefever Lefever Law www.lefeverlaw.co.nz |