Resources
Foreign investment in Aotearoa/New Zealand
Overseas Investment Office - Repercussions From July 2016 Decision
The July 2016 Decisions (written up by James Ayers) included this:
New Aussie Operator For Motutere Bay Holiday Park
Trans Tasman Holiday Parks Limited John Denis Tilton, Australia (97.5%) and Napadsakon Tilton, Australia (2.5%), received approval for the acquisition of a leasehold interest in approximately 27.1 hectares of land at 2891 State Highway 1, Turangi. The vendor was Motutere Family Trust Brent Anthony McIntosh and family, New Zealand (100%): consideration was $849,339.
The OIO states: “The Applicant is acquiring the Motutere Bay Holiday Park (the Park), on Lake Taupo, which lies on sensitive land leased from the Taupō District Council. The Applicant will invest significant capital in upgrading and expanding the Park’s facilities and will also improve marketing. Together, the Applicant anticipates that these initiatives will result in significant increases in occupancy, revenue and overall profitability. The Investment will also result in improved walking access along the foreshore of Lake Taupo”.
In October 2017 CAFCA was contacted by a local iwi member: “It was a shock to find, as the land is coming back from the Crown to iwi ownership and negotiations have been active since 2015. Taupo District Council have management authority only and did not advise us or the Crown about this new lease which happened in 2016. We will ensure to sort this out… Thank you for the hard work you do and excellent Web page of information”.
Campaign Against Foreign Control of Aotearoa,
P.O. Box 2258
Christchurch.