| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 04 March 2024 |
| Pathway(s) | Sensitive land - Farm land benefit test |
| Investment | Acquisition of a freehold interest in approximately 17 hectares of land at 129 Waihopai Valley Road, Waihopai Valley, Marlborough. |
| Consideration | $5,100,000 |
| Applicant | Endeavour Group International (NZ) Limited Australia 99.7% Various 0.3% |
| Vendor | Alexandra Lucy Trolove & Trolove Trustee Services Limited as Trustees of the DW Trolove Family Trust New Zealand 100% |
| Background | The Applicant is wholly owned by Endeavour Group Limited which is a publicly listed Australian company that predominately grows, manufactures, and sells premium wine. The Land is currently used as a vineyard. The Applicant intends to continue to use the Land as a commercial vineyard but intends to make changes to the variety of grapes grown and the way grapes on the Land are harvested and sold. The main benefits to New Zealand are likely to include increased productivity and efficiency, increased export earnings, further capital expenditure and job creation. Consent was granted as the Applicant has met the investor test criterion and the Investment is likely to benefit New Zealand. |
| More information | Sam Nelson Lane Neave PO Box 13-149 Christchurch |