January 2006 decisionsLifestyle land purchase application declined Pan Pac Forest Products buys further land
Lifestyle land purchase application declinedAndronicas Coffee Company Limited, owned by Andrew Jonathan Knight of the U.K., has been refused approval to acquire 22 hectares at 48 Grahams Beach Road, Awhitu Peninsula, Waiuku, South Auckland for $506,250 from Keith Tudor Brewer and Craig Tudor Brewer as trustees of the Keith Brewer Family Trust of Aotearoa.
The OIO states:
The Applicant’s shareholder proposes to acquire the subject land in order to build a substantial dwelling for his personal use. The land will also be used as a base by the Applicant’s shareholder to assess the viability of duplicating the activities of Andronicas Coffee in New Zealand. The Applicant’s shareholder has not demonstrated that he intends to reside in New Zealand indefinitely. The Applicant’s shareholder has not provided sufficient evidence for the Overseas Investment Office to conclude that the Applicant’s shareholder is likely to establish a business in New Zealand that is likely to benefit New Zealand or any part of it or group of New Zealanders.
[Decision number 200610005.] Pan Pac Forest Products buys further landPan Pac Forest Products Limited, owned 86.7% by Oji Paper Co Limited and 13.3% by Nippon Paper Industries Company Limited, both of Japan, has approval to acquire 641 hectares at Preston Road, Wairoa, Hawkes Bay for $2,812,500 from Ross Malcolm Jansen of Aotearoa.
The OIO states:
The Applicant is a fully integrated forestry company managing approximately 32,500 hectares of forest, operating a Pulp Mill and Saw Mill at Whirinaki, and supplying wood chip and lumber products. The Applicant proposes to acquire the subject land which is planted in pinus radiata trees aged between 5 and 9 years to ensure a further supply of timber for its mill and processing operations located at Whirinaki. The proposed acquisition will improve the Applicant’s self-sufficiency in sourcing raw material and will help the future security and viability of the Applicant’s Hawkes Bay operations.
[Decision number 200610007.] Other land for forestry· Faunus Limited, owned 50% by Pavel Rejman, 30% by Berta Dietsche, and 20% by Christoph Dietsche, all of Switzerland, has approval to acquire 43 hectares at Tawhero Forest Estate, Waitawhiti Road, Masterton, Wairarapa for $352,458 from DSM Land Limited of Aotearoa. The OIO states: “The Applicant proposes to acquire a forestry block growing pinus radiata which is part of a larger forestry block comprising 1,226 hectares being subdivided by the vendor. The land was planted in pinus radiata in 2005. The vendor will continue to manage the block under a management agreement and the Applicant will provide capital to fund the on-going development of the forestry block. In essence the proposal is a joint venture between the Applicant (who is providing capital for development purposes) and the vendor which is a New Zealand company (which has been engaged by the Applicant to provide the expertise necessary to manage the operation). To date 518 hectares have been planted and this proposed sale will provide capital to the vendor to further develop the forest on the remaining land.” DSM Land sold 39 hectares at the same location to U.K. buyers in June 2005. See our commentary for that month for further details. [Decision number 200610002.] Other rural land sales· Trade Lines Malaysian Limited, owned 100% in Australia, has approval to acquire 54 hectares at 724 North Road, Clevedon, South Auckland for $5,400,000 from Ivan Giuseppe Bargiacchi and Robin Scholes of Aotearoa. According to the OIO, “The Applicant proposes to acquire the subject property which adjoins land currently owned by the Applicant upon which the Applicant is establishing a farming operation comprising a beef cattle stud farm and the training and breeding of polo ponies. The adjoining land is known as Kaurilands. This acquisition will provide the Applicant with additional pasture for the beef cattle operation and immediate access to stables and training areas. The acquisition will enable the two properties to be operated together as one economic unit. A related company to the Applicant is one of the largest beef producers in Western Australia and operates one of the largest polo pony breeding and training operations in Australia. It is intended that the New Zealand operation will become an integral part of the Western Australian operations providing live bulls, horses and semen for breeding programmes in Western Australia.” Trade Lines Malaysian acquired the previous property (189 hectares for $5,062,500) in November 2002. See our commentary for that month for further details. [Decision number 200610006.] · Belcaster Trustees Limited as trustee of the Belcaster Trading Trust, owned by Paul Arthur Belcaster of the U.S.A., has approval to acquire 20 hectares at 521 McLaren Falls Road, Tauranga, Bay of Plenty for $763,000 from Clynton Cowley Ormsby and Miriama Bevelyn Ormsby of Aotearoa. According to the OIO, “The trustee of the Applicant, Mr Paul Belcaster, and family are currently residing in New Zealand and are in the process of applying for New Zealand permanent residency under the Skilled Migrant category. The land is currently utilised by the vendors for grazing and hay making. The Applicant intends to undertake a lifestyle block development upon the land. The Applicants are demonstrating a commitment to New Zealand through applying for and taking up New Zealand permanent residency.” [Decision number 200610004.] · Andrew John Lewis and Jayne Lewis of the U.K., have approval to acquire 231 hectares at 1898 Mitcham Road, Rakaia, Canterbury for $5,006,250 from David Lavington Fisher and Tracy Fisher, and Falloon & Co Trustees Limited as trustees of the Cloverdale Trust of Aotearoa. The OIO states: “The Applicants intend to reside permanently in New Zealand and propose to acquire the subject property as a permanent residence. The Applicants intend to irrigate the property to enable the existing mixed cropping regime to be intensified for specialist small seed production. A pig fattening operation, which is currently not in operation, will be recommissioned by the Applicants.” [Decision number 200610001.] · David John Roberts and Penelope Anne Roberts of the U.K. have approval to acquire 173 hectares at Revie Road, RD2, Crookston, Otago for $2,643,750 from Paul Michael Adams and Alison Susan Adams of Aotearoa. According to the OIO, “The Applicants hold New Zealand Long Term Business Visas and have resided in New Zealand since February 2005. The Applicants propose to acquire the subject property as a permanent residence and to establish a sheep and beef farming operation. The property is currently leased by the vendors to a dairy farmer for grazing and supplementary feed. The Applicants are demonstrating a commitment to New Zealand through intending to apply for and taking up New Zealand permanent residency.” [Decision number 200610003.] Summary statisticsAll investments It was a very quiet month, with only 7 applications, all involving land. The dollar values are much less than the same period in 2005. There was one application refused.
Investment involving land Gross and net sales of land approved by the OIO during January have increased in area.
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Compiled by: Campaign Against Foreign Control of Aotearoa, P. O. Box 2258 Christchurch. |
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