DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date16 March 2015
InvestmentAn overseas investment in sensitive land, being the Applicant’s acquisition of a freehold interest in approximately 486.8948 hectares of land at 570 Matangi Road, Havelock North.
Consideration$8,000,000
ApplicantRobert Erich Haselsteiner
Austria (100%)
VendorAndrew Desmond Orton and William Andrew Clyde Coltart, Robyn Shona Orton and Guy Donald Joseph Wellwood
New Zealand (100%)
Background

The land is currently being used as a sheep and beef farm. The Applicant intends to develop and improve the farming infrastructure and operation on the land.  The Applicant also intends to provide erosion control on the land (noting the proximity of the adjacent Tukituki River).

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) – Jobs
17(2)(a)(v) – Additional investment for development purposes
17(2)(c) – Trout, salmon, wildlife and game
17(2)(d) – Historic heritage
17(2)(e) – Walking access
17(2)(f) – Offer to sell riverbed to the Crown

Overseas Investment Regulations 2005
28(e) – Previous investments
28(f) – Advance significant Government policy or strategy

More informationOliver Roberts
Duncan Cotterill
PO Box 5
CHRISTCHURCH 8140