DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date5 April 2011
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 23.3250 hectares of land at 139 Simons Rd, Maungatapere, Whangarei.
Consideration$3,162,500
ApplicantKaren Danielle Fraser & Stephen Charles Diggle
Stephen Charles Diggle, United Kingdom (except Isle of Man and the Channel Islands) (50.0%)
Karen Danielle Fraser, Australia (50.0%)
VendorAD Jones Trust and JM Jones Trust
Alan Dudney and Jacqueline Mary Jones, New Zealand (100.0%)
Background

The Applicant proposes to expand the orchard operations currently undertaken on the property and significantly increase the production from the orchard.

The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors:

Overseas Investment Act 2005
17(2)(a)(i) – Creation/Retention of jobs
17(2)(a)(iii) – Increased export receipts
17(2)(a)(iv) – Added market competition/productivity
17(2)(a)(v) – Additional investment for development purposes

More informationStewart Otene
Webb Ross
Private Bag 9012
WHANGAREI 0140