Decision

Consent granted

Section 12(a) Overseas Investment Act 2005
Decision Date9 August 2017
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 4.0263 hectares of land at 14 Carlin Creek, Lakeside Estates, Queenstown.
Consideration$975,000
Applicant

Robert Joseph Osmetti and Tracy Scott Strachan
Tracy Scott Strachan, Australia (50%)
Robert Joseph Osmetti, Australia (50%)

Vendor

Scott Taylor & Rebecca Nelson
Scott Donald Taylor, Australia (50%)
Rebecca Nelson, Australia (50%)

Background

The overseas investment involves the acquisition of a freehold interest in a 0.4013 hectare lifestyle block and an undivided 1/39th interest in a further 3.616 hectares of common land. The land is contained within a residential subdivision.  The Applicants intend to acquire the land for the purpose of building their full time retirement residence on the Land, with the intention of moving to New Zealand and retiring here.

The Applicant will implement a planting and a pest-control program on the Land, starting from Spring 2017.  
More information

Elliot Goldman
Goldman Legal
PO Box 1399
Queenstown