|Date||13 June 2006|
|Offeror/applicant||Leichter (Van Martin) and Williams (Krisahn Costas) of United States of America|
|Ultimate applicant beneficial ownership||100 percent - United States of America|
|Beneficial overseas ownership|
|- Asset current||0 percent|
|- Asset proposed||100 percent|
|- Share current||N/A|
|- Share proposed||N/A|
|Offeree(s)/seller(s)||Copp (Peter Albin and Marion Kathleen) of New Zealand|
|Business activities||Agriculture - Horticulture & Fruit - Viticulture|
Agriculture - Horticulture & Fruit - Orchard
Agriculture - Scrub/Native Bush
|Details of land involved||16.4 hectares of freehold situated at Pomona Road, Ruby Bay, Nelson being CT48057 (Nelson Registry).|
|Consent sought||To 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.|
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 proposes to acquire the subject property to undertake a redevelopment of the land into a productive Sauvignon Blanc vineyard and avocado orchard. The land currently contains approximately 3 hectares of apple orchard that previously formed part of a larger apple orchard operated by the vendor.
The proposal is likely to result in the following benefits:
Kennedy & Associates
P O Box 182