|Date||7 August 2006|
|Offeror/applicant||Cannon (Timothy Hall) & Refo (Miles Permenter) 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)||Contributory Mortgage Nominees Limited of New Zealand|
|Business activities||Accommodation - Hotel/Motel/Lodge|
|Details of land involved||12.13 hectares of freehold situated at Rhodes Road, Tai Tapu, Canterbury being CTs 6976 and 6977 (Canterbury Registry).|
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 of good character and not the kind of persons referred to in section 7(1) of the Immigration Act 1987.
The Applicants propose to acquire the land which contains Otahuna Lodge, which operates as a luxury lodge providing superior accommodation, food and beverages, and an events venue. The Applicants intend to operate and further develop a viable and successful hospitality business.
The Applicants intend to reside in New Zealand indefinitely upon the acquisition of the Lodge. The Applicants have lodged an Expression of Interest for New Zealand permanent residency under the Skilled Migrant category.
|Contact||Peter Stubbs/Craig Nelson|
Private Bag 92518