DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision Date9 February 2017
InvestmentAn overseas investment in sensitive land, being the Consent Holder's acquisition of leasehold interests in 10,759.8303 hectares of land at Hunter Valley Station, contained in a Pastoral Lease and a Special Lease.
ConsiderationWithheld under s(9)(2)(b)(ii) of the Official Information Act
ApplicantOrange Lakes (NZ) Limited
United States of America (100%)
VendorHunter Valley Station Limited
Donald Mackenzie Cochrane, Penelope Lyall Cochrane, and Anthony Thomas McCleary as trustees of the Hunter Valley Trust, New Zealand (47.5%)
Donald Mackenzie Cochrane, New Zealand (37.5%)
Penelope Lyall Cochrane, New Zealand (15.0%)
Background

The Consent Holder plans to continue a sheep and cattle farming operation on the land, and intends that its capital contributions will enable the farm’s production to be significantly enhanced. In addition, the Consent Holder has demonstrated its willingness to facilitate, as lease holder, public access to several important sites on or around the Land.

The overseas investment transaction has satisfied thecriteriain 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)(iv) – Greater efficiency or productivity
17(2)(a)(v) – Additional investment for development purposes
17(2)(e) – Walking access

Overseas Investment Regulations 2005
28(a) – Consequential benefits
28(b) – Key person in a key industry

More informationGraeme Todd
GToddLaw
P O Box 124
Queenstown 9348
Notice of decision

Case 201610030 - Hunter Valley Station/Orange Lakes (NZ) Limited