DecisionConsent granted retrospectively
Section 12(a) Overseas Investment Act 2005
Decision date7 December 2012
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 136.0779 hectares of land at 42 Matheson Road, Helena Bay, Whangarei.
Consideration$760,000
ApplicantWilliam Mehring
United States of America (100%)
VendorSR Lovelace, KJ Twomey, RE Lovelace & GR Lovelace
New Zealand (100%)
Background

The Applicant intends to acquire the property in order to eventually reside on the property. The Applicant has obtained a QEII National Trust covenant to protect approximately 59.5 hectares of forest and rushland located on the property.

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)(b) – Indigenous vegetation and fauna

More informationGeorge Swanepoel
SwanLaw Barristers and Solicitors
PO Box 1563
Whangarei 0140
Retrospective penalty$5000