Decision number200610027
Application number200520133
Date10 March 2006
Offeror/applicantErnslaw One Limited
Ultimate applicant beneficial ownership100 percent - Malaysia, Tiong Family
Beneficial overseas ownership 
- Asset current0 percent
- Asset proposed100 percent
- Share currentN/A
- Share proposedN/A
Offeree(s)/seller(s)Aupouri (Phillip Graham) of New Zealand
Business activitiesLifestyle Property
Details of land involved6.0136 hectares of freehold situated at 334 Te Araroa Road, Ruatoria being CT 104175 (Gisborne Registry).
Regions involvedGisborne/Hawkes Bay
Total consideration$324,375
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 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, who manages 49,000 hectares of forest in the Gisborne/East Coast region, proposes to acquire the subject property as a residence for the Applicant's Ruatoria Forest manager and his family. The land is situated in close proximity to the Applicant's Ruatoria Forest, which extends in a number of blocks as far as Te Araroa being 1 hours drive north. The Applicant proposes to establish a fire store on the land where firefighting equipment will be stored. In the event of a fire in the Ruatoria Forest, firefighting will be managed from this land.

The proposal is likely to result in the following benefits:

  1. increased efficiencies to the Applicant's existing Gisborne/East Coast forestry operations.
ContactKathryn Hessell
Glaister Ennor
PO Box 63
AUCKLAND