DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision Date4 July 2017
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of:
  • a freehold interest in approximately 246.5585 hectares of land at 136 Ranganui Road, Kaiwaka, Northland; and
  • a leasehold interest in approximately 5 hectares of land at 136 Ranganui Road, Kaiwaka, Northland.
Consideration$5,750,000
ApplicantFL Hope Limited
Bei Keen Wong, Singapore (100%)
Vendor

Vendors Kaitara Farms Limited
Douglas Ian Donaldson, Lenore Dwight Donaldson and Neil Finlay McNab (as Trustees of the Kaitara Farms Trust), New Zealand (100%)

James Douglas Donaldson and Neil Finlay McNab (as trustees of the J D Donaldson Trust)
New Zealand (100%)

Douglas Ian Donaldson, Lenore Dwight Donaldson and Neil Finlay McNab (as Trustees of the Kaitara Farms Trust)
New Zealand (100%)

Lessor Kiwirail Limited
Minister of Finance, New Zealand (50%)
Minister for State Owned Enterprises, New Zealand (50%)
Background

The individuals with control of the Applicant, being Bei Keen Wong and her family, intend to migrate to New Zealand and reside here indefinitely.

Overseas persons intending to reside in New Zealand indefinitely are not required to show that their investment in sensitive land is likely to benefit New Zealand. This is because the ownership of that land will assist new migrants to settle in New Zealand and the benefits of the proposed migration will be considered under immigration legislation.

More informationAlan Lear
Barrister
AUCKLAND