Decision number200610003
Application number200520145
Date17 January 2006
Offeror/applicantRoberts (David John and Penelope Anne) of United Kingdom
Ultimate applicant beneficial ownership100 percent - United Kingdom
Beneficial overseas ownership 
- Asset current0 percent
- Asset proposed100 percent
- Share currentN/A
- Share proposedN/A
Offeree(s)/seller(s)Adams (Paul Michael and Alison Susan) of New Zealand
Business activitiesAgriculture - Sheep, Beef, Cattle
Details of land involved173.1928 hectares of freehold situated at Revie Road, RD2, Crookston, Otago being CTs OT10D/146, OT96/94, and OT117/149 (Otago Registry).
Regions involvedOtago
Total consideration$2,610,000
Consent soughtTo acquire an interest in land which, either alone or together with any associated land of that type, is or includes non-urban land and exceeds 5 hectares in area.
Rationale

The application has been approved as it met the criteria.

The Overseas Investment Office is satisfied that the Applicants have business experience and acumen relevant to and are demonstrating financial commitment towards the investment. The Overseas Investment Office is further satisfied that the Applicants are good character and not the kind of persons referred to in section 7(1) of the Immigration Act 1987.

The Applicants hold New Zealand Long Term Business Visas and have resided in New Zealand since February 2005. The Applicants propose to acquire the subject property as a permanent residence and to establish a sheep and beef farming operation. The property is currently leased by the vendors to a dairy farmer for grazing and supplementary feed.

The Applicants are demonstrating a commitment to New Zealand through intending to apply for and taking up New Zealand permanent residency.

ContactDavid Haigh
Wynn Williams & Co
P O Box 4341
CHRISTCHURCH