Decision number200720017
Application number200720006
Date20 August 2007
Offeror/applicantKia Ora Station Limited
Ultimate applicant beneficial ownership40 percent - New Caledonia, Guesdon (Patrick Gaetan Marie)
20 percent - New Caledonia, Guesdon (Odile Marie Clemence Andree)
15 percent - New Caledonia, Guesdon (Nicolas Bruno Edmond)
15 percent - New Caledonia, Mayerau-Lonne (Caroline Natacha Odile)
10 percent - New Zealand, Bryson (Robert John)
Beneficial overseas ownership 
- Asset current0 percent
- Asset proposed90 percent
- Share currentN/A
- Share proposedN/A
Offeree(s)/seller(s)Bagley Family of New Zealand
Business activitiesAgriculture - Sheep, Beef, Cattle
Agriculture - Scrub Land
Details of land involved610.4561 hectares of freehold situated at Kia Ora Station, Ngakaroa Road, Ormond, Gisborne being CTs GS6A/746, GS6A/747 and GS2A/557 (Gisborne Registry).
Regions involvedGisborne/Hawkes Bay
Total consideration$2,000,000
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.

Background:
The Applicant holds substantial interests in the meat industry in New Caledonia. This has led the Applicant to an interest in farming and investments outside of New Caledonia.

Outline of Proposed Development:
The Applicant wishes to acquire the property, which is a relatively steeply contoured sheep and cattle property currently in an unproductive and underperforming state and through investment and experienced management, convert it into a fully productive unit.

Rationale of Proposed Development:
The Applicant considers the relevant land to have potential for considerable development in terms of sub-divisional fencing, scrub clearance and fertiliser application. The present owners are not in the position to undertake this development work.

The proposed development is likely to result in the following benefits:

  1. the creation of new job opportunities
  2. additional investment for development purposes
ContactPeter Kite
Egan and Kite
P O Box 146
GISBORNE