Section 12(a) Overseas Investment Act 2005
|Decision date||3 September 2014|
|Investment||An overseas investment in sensitive land, being the Applicant's acquisition of Lot 18 at Closeburn Station, Queenstown, being an estate in fee simple in approximately 1.888 hectares of land, together with an estate in fee simple in a 1/27 undivided interest in approximately 1002.678 of land at Closeburn Station.|
|Consideration||Withheld under s(9)(2)(a) of the Official Information Act|
|Applicant||Lynden Investments Group Pty Limited as Trustee of the Mackenzie Family Trust (NZ)|
Denis George Mackenzie, Australia (50%)
Linda Ruth Mackenzie, Australia (50%)
|Vendor||Southern Sun Properties Limited|
Guenther Andreas Raedler, New Zealand (100%)
The Applicant is acquiring Lot 18 at Closeburn Station as a platform to construct a residence for use by the beneficiaries of the Applicant. Closeburn Station is a rural subdivision comprising 27 residential lots with the balance of the property being a sheep and beef farm.
As a result of the investment, the Applicant will provide significant and ongoing support to regional efforts to control the spread of wilding pines. Wilding pines threaten and replace native beech forests and tussock (among other things) in the Queenstown area including on Closeburn Station.
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 Regulations 2005
|More information||Matthew Edwards|
Berry & Co
PO Box 179