Decision number200710073
Application number200710082
Date27 June 2007
Offeror/applicantSimmonds (Tanya Louise) of Australia
Ultimate applicant beneficial ownership100 percent - Australia
Beneficial overseas ownership 
- Asset current0 percent
- Asset proposed100 percent
- Share currentN/A
- Share proposedN/A
Offeree(s)/seller(s)Leuch (Paul Duncan & Mary Jane) of New Zealand
Business activitiesLifestyle Property
Details of land involved5.6295 hectares of freehold situated at 299 Mt Aspiring Road, Wanaka being CT OT18D/702 (Otago Registry).
Regions involvedOtago
Total consideration$4,200,000
Consent sought

To acquire:

  1. 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; and
  2. an interest in land which, either alone or together with any associated land, exceeds 0.4 hectares and adjoins land held for conservation purposes under the Conservation Act 1987 (if that conservation land exceeds 0.4 hectares in area).
Rationale

The application has been approved as it met the criteria.

The Overseas Investment Office is satisfied that the Applicant has business experience and acumen relevant to and is demonstrating financial commitment towards the investment. The Overseas Investment Office is further satisfied that the Applicant is of good character and not the kind of person referred to in section 7(1) of the Immigration Act 1987.

Background:
The Applicant wishes to reside permanently in New Zealand with her family, as it provides an ideal lifestyle for her children and her husband to begin his retirement.

Outline of Proposed Investment:
The property will be purchased from the Applicant's own resources. The principal source of the funds will be the sale of the property currently owned in England.

Rationale for Proposed Investment:
The Applicant intends to move her family from the UK to occupy the property as their permanent residence.

ContactRichard Guy Steven
Wanaka Law
PO Box 161
WANAKA