Decision number200610056
Application number200610039
Date15 May 2006
Offeror/applicantKingma (Jan Marten) of Netherlands
Ultimate applicant beneficial ownership100 percent - Netherlands
Beneficial overseas ownership 
- Asset current0 percent
- Asset proposed100 percent
- Share currentN/A
- Share proposedN/A
Offeree(s)/seller(s)Kapuka Farm Limited
50 percent - New Zealand, van der Helm (Joacobus Geradus and Greetje)
50 percent - New Zealand, Meyers (Pieter and Jacoba Cornella) and Bruin (Robertus Laurentius) as trustees of the Farm View Trust
Business activitiesAgriculture - Dairy Farming
Details of land involved298.1709 hectares of freehold situated at Kapuka, Invercargill being CTs SL183/156, SL2A/1171, and SL12A/415 (Southland Registry).
Regions involvedSouthland
Total consideration$6,413,690
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 is experienced in the dairy industry in the Netherlands, proposes to acquire the subject dairy farming property. The land contains a 175 hectare dairy farm and 122 hectares utilised as a run-off. The Applicant proposes to establish a facility to import and propagate European genetics into the New Zealand dairy industry. An intensive commercial breeding and rearing enterprise will be established to offer contract mating facilities for dairy farmers.

The proposal is likely to result in the following benefits:

  1. the creation of new job opportunities;
  2. the introduction of additional investment for development purposes; and
  3. increased productivity.
ContactJ F C Henderson
Evans Henderson Woodbridge
P O Box 326
MARTON