|Date||3 March 2006|
|Offeror/applicant||Gibbston Valley Lodge NZ LLC|
|Ultimate applicant beneficial ownership||100 percent - United States of America, The Phillip D Griffith Family Trust|
|Beneficial overseas ownership|
|- Asset current||0 percent|
|- Asset proposed||100 percent|
|- Share current||N/A|
|- Share proposed||N/A|
|Offeree(s)/seller(s)||Glenroy Station Limited of New Zealand|
|Business activities||Accommodation - Hotel/Motel/Lodge|
|Details of land involved||2.0194 hectares of freehold situated at 1850 Gibbston Highway, Gibbston Valley. being CT 113341 (Otago Registry).|
|Consent sought - 1995 Regs||To acquire an estate or interest in land which an estate or interest in land which, exceeds five hectares in area.|
The application has been approved as it met the criteria.
The Overseas Investment Office is satisfied that the individuals with control of the Applicant collectively have business experience and acumen relevant to the overseas investment, and that the Applicant has demonstrated financial commitment towards the overseas investment. The Overseas Investment Office is further satisfied that each individual that exercises control over the Applicant is of good character and is not an individual of the kind referred to in section 7(1) of the Immigration Act 1987.
The Applicant is an associated person of Gibbston Valley Wines Limited (GVWL) by virtue of Mr Griffith's interests in the Applicant and GVWL. GVWL owns land adjacent to the subject land on which GVWL operates a vineyard, a cheesery, and a restaurant. The Applicant proposes to construct, and operate a luxury lodge on the subject land and the adjoining land (refer A200520054). Resource consents have been granted to the Applicant. The Applicant intends that the luxury lodge will complement the activities of GVWL together with other visitor attractions in the Gibbston Valley and the wider Queenstown region.
The proposal is likely to result in the following benefits:
|Contact||Alistair Moore/Kate Hesson|
Anderson Lloyd Caudwell
Private Bag 1959