DecisionConsent declined
Section 12(a) Overseas Investment Act 2005
Decision MakerThe Minister for Land Information and the Associate Minister of Finance
Decision Date12 August 2019
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of:
  • a freehold interest in 116.919 hectares of land at 413 Upton Downs Road, Awatere Valley, Marlborough; and
  • a freehold interest in 119.2 hectares of land between 2593 State Highway 50 and 2009 Maraekakaho Road, Ngatarawa, Hawkes Bay; and
  • a freehold interest in 30.7 hectares of land at Aorangi Road, Mangatahi, Hawkes Bay; and
  • a freehold interest in 21.8 hectares of land at 1888 Maraekakaho Road, Ngatarawa, Hawkes Bay; and
  • a freehold interest in 215.04 hectares of land at Omapere Road, Okawa, Hawkes Bay; and
  • a leasehold interest in approximately 42.8712 hectares of land located to the north of Upton Downs Road, Awatere Valley, Marlborough.
ConsiderationWithheld under s9(2)(b)(ii) of the Official Information Act
ApplicantGlobal Ag Properties II New Zealand Limited Partnership
United States of America (29.0%)
Canada (26.5%)
Sweden (25.0%)
Netherlands (6.7%)
United Kingdom (6.2%)
South Korea (3.3%)
Saudi Arabia (3.3%)
VendorThe Wine Portfolio Limited and Ascross Investments Limited
John Coney, Canada (100.0%)
Background

The Applicant is a New Zealand limited partnership incorporated to acquire and hold vineyard properties and assets in New Zealand.

The Investment consists of 6 existing vineyards, 1in Marlborough and 5 in the Hawkes Bay. The Applicant intended to continue to operate these as vineyards and to undertake replanting of some of the vines which were diseased as well as replanting some vines with more popular varietals.

For consent to be granted, Ministers’ needed to be satisfied that the Investment would result in substantial and identifiable benefit to New Zealand. Both Minister Sage and Minister Clark were not satisfied that the investment would result in a substantial and identifiable benefit to New Zealand.

More informationRoss Pickmere
Minter Ellison Rudd Watts
PO Box 3798
AUCKLAND 1140