DecisionConsent Granted
Section 12(a) Overseas Investment Act 2005
Decision Date06 September 2017
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 80.7330 hectares of land at 548 Pyramid Valley Road, Waikari, North Canterbury, New Zealand.
Consideration$8,000,000
ApplicantAotearoa New Zealand Fine Wine Estates LP
Adria Marie Sheth, United States of America (50.0%)
Brian Niranjan Sheth, United States of America (50.0%)
VendorPyramid Valley Vineyards Limited
Claudia Elze Weersing, New Zealand (49.0%)
J R W Technology Incorporated, United States of America (44.0%)
Mary Helen Weersing, United States of America (5.0%)
Michael Scott Weersing, New Zealand (2.0%)
Background

The Applicant is a newly established limited partnership.

The land is currently operated as a vineyard. The Applicant will increase the size of the vineyard and construct new wine-making and visitor wine-tasting facilities.

The benefits to New Zealand include:

  • increasing the volume and value of fine wine export receipts for New Zealand exporters;
  • enhancing the productivity from the land;
  • introducing additional capital into New Zealand for developing the vineyard, and constructing new wine-making and visitor wine-tasting facilities;
  • increasing the amount of grapes processed in New Zealand; and
  • creating a new salaried full-time equivalent position and, in the short term, a number  of contractor positions.
More informationJohn Brown
Brown Partners Lawyers
P O Box 1496
Auckland 1140