March 2002 decisionsTurners and Growers acquires Status Produce Limited Canterbury Waste Services buys road to Kate Valley landfill Weatherford of the U.S.A. buys Austoil Engineering Services Billionaire Robertson buys Hawkes Bay property for golf course and lodge Shell Forestry sells assets, including 50% share in Northland forest, to UBS Lakeside Lodge, Lake Hayes, being acquired by U.K. interests Hotel du Vin hotel and vineyard interests acquired by U.S. investor One application refusedThere was one application refused this month. Terra Nova Vineyard Limited, owned by Gary Alan Fisher of Hong Kong, was refused approval to acquire 3.1 hectares at Tuki Tuki Road, Haumoana, Hawkes Bay for $285,000 from Hill Country Property Limited of Aotearoa.
He wanted to acquire a lifestyle property that adjoins a three hectare property he already owned and approximately 20 minutes drive from a property which is being developed as a vineyard. The “main residence” would have been occupied by “the Applicant or another executive of the Applicant’s vineyard during development of the vineyard. The second house will be utilised as a guest house to accommodate visiting personnel such as wine journalists and those in the wine trade.”
The application was refused because “the Commission is not satisfied that the acquisition of the additional property for the construction of a second residential dwelling to be in the national interest as it is unlikely to enhance the benefits that are likely to result from development and operation of the vineyard”.
In April 2001, Fisher gained approval to acquire two properties in Maraekakaho Road, Hastings for development into a commercial vineyard and winery operation. The two blocks were 45 hectares for $1,575,000 and 22 hectares for $832,750. A local advisor would help develop the vineyard, which would produce “high quality red wine for export, based on the major Bordeaux varieties Cabernet Sauvignon, Merlot, Malbec and Cabernet Franc.” Turners and Growers acquires Status Produce LimitedSholto Investments Limited, 90% owned by Turners and Growers Limited (in turn controlled by Ron Brierley’s retirement hobby, Guinness Peat Group of the U.K., which has 46% of its shares), has approval to acquire the business and assets of Status Produce Limited and Lateral Marketing Limited of Aotearoa, for a suppressed amount. The assets include 22 hectares of land at Harrisville Rd and Geraghty Maber Rd, Tuakau, Auckland.
Sholto’s “principal activity is horticultural investments and tomato growing”. Status grows and packs tomatoes and other produce. “Efficiencies are likely to occur in the areas of glasshouse management, harvesting and packaging.”
According to the OIC the ultimate beneficial ownership of Sholto is: · 53.1783% – minority shareholdings in Aotearoa · 23.4% – Pacific Fruit Group of the U.S.A. · 10% – PTO Properties Limited of Aotearoa · 7.9421% – Australia minority shareholdings · 4.5482% – UK minority shareholdings · 0.5265% – French minority shareholdings · 0.405% – US minority shareholdings
In fact there is no longer any Sholto Investments Ltd registered at the New Zealand Companies Office. It was incorporated on 22/2/00, and changed its name to Status Produce Ltd on 18/4/02. Status Produce had changed its name to BGJJLM Limited on 8/4/02, and is 100% owner of Lateral Marketing.
Guinness Peat, now owner of the former grower-owned Apple and Pear Marketing Board, Enza, is considering merging Enza with Turners and Growers, the dominant wholesaler, auctioneer and distributor of fruit, vegetables and cut flowers in Aotearoa. Watch this space. Canterbury Waste Services buys road to Kate Valley landfillCanterbury Waste Services Limited has approval to acquire 4.6 hectares at 20 Mt Cass Road, Waipara, North Canterbury for $190,000 from K and M Lord of Aotearoa. The land is a road into the Kate Valley landfill being developed by the company for ten Canterbury local authorities. It will be developed into the landfill’s main access road.
“In 1996, 10 Canterbury local authorities formed a joint standing committee to investigate the potential for a regional solution to the 360,000 tonnes of solid waste disposed of in the region annually. The primary driver for change was the Resource Management Act (RMA) and the environmental obligations arising from the Act. There are currently 30 operating landfills in the Canterbury region. The Commission is advised that by the end of 2002 it is likely that 29 of these landfills will cease operation either by being full or because an extension for the existing resource consent is unlikely to be obtained.
The Applicant and the various participating councils in the Canterbury region have formed a joint venture company Transwaste Canterbury Limited (Transwaste) to identify and develop a site for a regional landfill in Canterbury. Transwaste will eventually own and manage the landfill, subcontracting the operation of the landfill to the Applicant. The Applicant has stated it is necessary for the Canterbury region to have a modern landfill developed to the highest environmental standards.
On 21 June 2000 the Ministers granted the Applicant consent to purchase approximately 2757 hectares of land known as Tiromoana Station, Waipara, North Canterbury. A small area of the Tiromoana Station, the Upper Kate Valley, has been identified as a potential landfill site.”
The company obtained further land in October 2001 – see our commentary for that month for further details of the project.
The company is described by the OIC as being “ultimately” owned as follows:
· 51.25% – Aotearoa, minority shareholdings · 25% – Aotearoa, Auckland Regional Services Trust · 9% – Australia, Colonial First State Limited · 8.75% – United Kingdom and Netherlands, Shell Oil (Shell Transport and Trading Company and Royal Dutch Petroleum Company (N.V. Koninklijke Nederlansche Petroleum Maatschappij) respectively · 3.5% – Australia, minority shareholdings · 2.5% – Unknown, Persons who may be “overseas persons”
However in fact it is owned 50% each by Waste Management NZ Ltd (a listed company no longer a subsidiary of Waste Management of the U.S.A.) and Envirowaste Services Ltd. In turn, Transwaste, is 50% owned by Canterbury Waste Services and 50% by the consortium of local authorities.
Envirowaste is a joint venture company owned 50/50 between Northern Disposal Systems Ltd and Fulton Hogan Ltd. Northern Disposal Systems is owned by Infrastructure Auckland Limited (formerly the Auckland Regional Services Trust, and hence the 25% ownership listed by the OIC above). Fulton Hogan is 35% owned by Shell. Weatherford of the U.S.A. buys Austoil Engineering ServicesWeatherford International Inc of the U.S.A. has approval to acquire the business and assets of Austoil Engineering Services Limited, including 13 hectares at Dakota Place and De Havilland Drive, New Plymouth, Taranaki, for $13,414,634. Austoil is owned 90% in Aotearoa and 10% in Australia. Weatherford is “a manufacturer, supplier and renter of various completion and oilfield products and services to the oil and gas industry”. It “already operates in New Zealand manufacturing drilling equipment, and now proposes to acquire a servicing arm of a company that provides oil field exploration servicing and general engineering. The acquisition reflects Weatherford’s intention to expand its current product line and business in New Zealand…” Billionaire Robertson buys Hawkes Bay property for golf course and lodgeWaiaua Bay Farm Limited, owned by Julian Hart Robertson of the U.S.A., has approval to acquire the 2,087 hectare Summerlee Station, Te Awanga, Hawkes Bay for a suppressed amount from Summerlee Estate Limited of Aotearoa.
In September 2000, the same company was given consent to acquire 389 hectares at Hikura Road, Kaeo, Matauri Bay, Northland which has been developed into “a high quality international golf course and lodge known as Kauri Cliffs”. Robertson, described by the Christchurch Press as a “billionaire” (Press, 12/6/02, “US billionaire pays $6.7m for Brooksdale”, p.A3), “is now looking for other suitable properties to develop along similar lines with the aim of establishing a high quality golf/accommodation circuit in New Zealand”. He
“proposes to develop part of the subject property into a high quality international golf course with a high standard lodge accommodation containing 20 twin suites. The part of the property currently native bush (approximately 414 hectares) and forestry (approximately 250 hectares) will remain as is while the remainder of the property will continue to be farmed carrying sheep and cattle and further developed as a contract winter lamb finishing unit. The vendor in 4 years has turned around a property that had deteriorated due to drought and lack of working capital, and restored the property to adequate levels. The property currently requires further capital to improve performance and the vendor wishes to concentrate on the current homestay operation run as part of the farm. The vendor is to retain an area of 22.0371 hectares which the Applicant will transfer back to the vendor after settlement due to delays in registration of the subdivision.
The development of the golf course and lodge will require resource consents. The Applicant has undertaken initial discussions with the relevant councils and other interested parties including local iwi and the Department of Conservation.”
Robertson bought the 4,539 hectare Canterbury high country Brooksdale Station in February 2002 (see our commentary for that month for details on that and previous purchases). Shell Forestry sells assets, including 50% share in Northland forest, to UBSUBS Mangakahia Forest Venture Ltd, of the U.S.A., has approval to acquire 27,128 hectares of freehold land and 1,409 hectares of leasehold land at Mangakahia Forest, Northland for a suppressed amount from Shell Forestry New Zealand Limited, owned 60% by Royal Dutch Petroleum Company (N.V. Koninklijke Nederlandse Petroleum Maatschappij) of the Netherlands, and 40% by Shell Transport and Trading Company of the U.K.
“Mangakahia Forest is a joint venture formed in 1983 between Shell Forestry New Zealand Limited (the vendor) and New Zealand Forest Products Limited. The applicant proposes to acquire the assets of the vendor which includes the 50% interest in the joint venture.
The Applicant is a closed end investment fund, whose shareholders are pension funds, established and administered by UBS Timber Investors (UBS) to focus on timber investments in the Southern Hemisphere. UBS Timber Investors generates investment returns from the acquisition and management of forests and associated processing facilities located in the United States and the Southern Hemisphere.
The Mangakahia forest was established to produce pulp wood for a kraft pulp mill development and unpruned sawlogs. This has resulted in the availability of wood volumes of relatively low quality logs and there has been minimal pruning and thinning carried out. There is little domestic demand for the log qualities available from the forest and export markets are at the lower end of the value scale. This combined with higher harvesting costs due to the terrain and infrastructure make the present operation a low margin forest. UBS along with the other joint venture partner both support a more intensive forestry management and silviculture programme to maximise production of high value logs and minimise the volume of pulpwood produced. This intensive regime approach is common practice by UBS to attain their long-term value objectives and will result in added value to the youngest parts of the forest and in particular the second rotation crops.”
New Zealand Forest Products Ltd is a subsidiary of Carter Holt Harvey, itself 51% owned by International Paper Company Ltd of the U.S.A. Lakeside Lodge, Lake Hayes, being acquired by U.K. interestsIC and GJA Watmore of the U.K. have approval to acquire 0.45 hectares at Arrowtown-Lake Hayes Road, Lake Hayes, Otago for $1,900,000 from M and MJ Hanff of Aotearoa.
The property “contains the boutique lodge business known as Lakeside Lodge. The lodge comprises four private suites each with an en-suite. The lodge is well located in close proximity to Queenstown and activities such as golf, skiing, vineyards, and fishing.”
The Watmores “propose to undertake renovations and a refurbishment to the lodge which will include redeveloping the current owners accommodation into an additional 2-3 guest suites and upgrading the lodge to a modern standard. It is planned to increase the marketing of the lodge to increase occupancy. The Applicants have already contacted a number of United Kingdom travel and holiday companies and have received expressions of interest from some of them in marketing the lodge.” Other land for forestry· Three groups of investors from Taiwan have approval to acquire land at State Highway 22, Te Akau Road, near Ngaruawahia, Waikato from the New Zealand Forestry Group Limited, which is owned 76% by Wesley Garratt of Aotearoa and 24% by J Hong of Taiwan. They are all members of the Brooklands Forest Group, which “has entered into an arrangement with New Zealand Forestry Group, to develop approximately 1200 hectares of land at Ngaruawahia”. They are: · Kuo and Hsieh Family Trust, 17.1 hectares for $109,440; · Thomas and Sophia Family Trust, 25.8 hectares for $165,120; and · Han-Wei and Han-Mei Huang, 13.4 hectares for $85,760. These sales are like many in this and other regions organised by New Zealand Forestry Group, the last such sales being in January 2002, also in Ngaruawahia, with investors in the Brooklands Forest Group. The investors provide the money, while New Zealand Forestry Group manages the development of the forestry operation. · Pace Land Limited, owned 50% by MF Kong and SH Ng of Singapore and 50% by PC and E Tan of Aotearoa, has approval to acquire 89 hectares at Tawhero Forest Estate, Pakowhai Road, Masterton, Wairarapa for $557,455 from DSM Land Limited of Aotearoa. The property is a forestry block growing pinus radiata, which is part of a larger forestry block being subdivided by DSM Land. “On average the trees are 5-6 years old. The vendor will continue to manage the block in terms of 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 Applicants providing capital for development purposes and a New Zealand company providing the expertise and management of the operation. The land being acquired is part of a larger property owned by the vendor who intends to develop a total of 1,221 hectares into forestry. A total of 554 hectares is currently planned to be subdivided and sold to investors and if demand is sufficient the total property may be subdivided. To date some 300 hectares have been planted and this proposed sale will provide capital to the vendors to further develop the forest on the remaining land.” · Dr Ruediger Naumann-Etienne of the U.S.A. has approval to acquire 472 hectares at State Highway 6, Wairau Valley, Blenheim, Marlborough for $900,000 from CL and KE Legg of Aotearoa. Naumann-Etienne “intends to develop approximately 400 hectares of the steeper hill area of the property which is marginal for agricultural purposes, as a commercial forestry block”. He will contract a local company to manage the proposed development. He intends to use the remainder of the land for agricultural purposes, but may sell it to local farmers to fund the forestry investment. Naumann-Etienne is Chief Executive Officer and chairman (salary in 2001, US$144,000) of Quinton Cardiology Systems, Inc, of the U.S., which “develops, manufactures, markets and services a family of diagnostic cardiology systems used in the diagnosis, treatment and rehabilitation of patients with heart disease”. See for example http://biz.yahoo.com/p/q/quin.html. Hotel du Vin hotel and vineyard interests acquired by U.S. investorLeeward Investments Limited, owned by E D Aster of the U.S.A., has approval to acquire the business and assets of Otaka Holdings N.Z. Limited, Firstland Vineyards Limited, and Hotel du Vin Limited, owned by M Otaka of Japan, for a suppressed amount. The purchase includes:
· 15 hectares of freehold land at 500 Lyons Road, RD 1, Mangatawhiri, South Auckland; · 27 hectares of Profit à Prendre comprising: · 5.9 hectares at Gimblett Road, Hastings, Hawkes Bay; · 12.6 hectares at Mahers Road, Renwick, Marlborough; and · 8.5 hectares at State Highway 6, Renwick, Marlborough. · The Hotel du Vin hotel.
Aster and family “intend to apply for permanent residency and relocate to New Zealand in April 2002”. The Hotel du Vin hotel
“is located at Mangatawhiri (just south of Auckland) and is primarily aimed at the tourist trade and catering for corporate groups and seminars. The winery is also situated at Mangatawhiri and grapes are sourced from the Mangatawhiri property and the vineyard interests the group has in Marlborough and Hawkes Bay and makes and distributes wine under the Firstland and de Redcliffe labels.
The winery is currently operating below capacity. The Applicant proposes to increase the production of the winery, with the increased wine produced being targeted at the export market. The Applicant has established contacts in the United States wine industry and will utilise these contacts to establish a market presence for the Firstland and de Redcliffe labels.” Other land for wine· M J Horowitz of the U.S.A. has approval to acquire 7.2 hectares at 388A Lyons Road, Mangatawhiri, South Auckland, for $435,000 from Graceland Holdings Limited of Aotearoa. Horowitz proposes using it for a vineyard “to produce wine in conjunction with a local grower and winemaker. An area of approximately four hectares will be planted in grapes with the remainder of the property being bush, sheds and a house.” The wine will be “a small production, high quality wine” which will be marketed “to contacts in New York and the eastern seaboard of the U.S.A.” · Flat Point Station Vineyard Joint Venture, owned 50% by the Moser Family of the U.S.A., and 50% by The Glendon Trust of Aotearoa, has approval to acquire 100 hectares at Flat Point Road, Flat Point Station, Wairarapa for $400,000 from The Glendon Trust. The joint venture “proposes to establish a vineyard and winery on the subject property”, which is partly in native bush and “is part of a larger sheep farming unit owned by the Glendon Trust”. In essence says the OIC, the overseas party is providing the capital and the Glendon Trust is providing the labour and skills to develop the vineyard. “No previous grapes have been planted in this location and a trial has already been developed covering approximately 1-2 hectares which has so far produced encouraging results. Initially an area of eight hectares is to be developed as a vineyard with existing plans for a further eight hectares dependant on success of the venture. There are also future plans for a guest lodge to be established. The remaining area of the property will be maintained in regenerating native bush and shelter for the vineyard.” · S and A Watt of the U.K. have approval to acquire 9.3 hectares at Pomona Road, Ruby Bay, Nelson for $481,500 from PJ and JA Binns of Aotearoa. The Watts “are committed to relocating to New Zealand and taking up permanent residency”. They intend to establish a business on the property “targeting the wine tourism market, specifically amalgamating contract grape growing and potential wine making on site, with luxury vineyard tourist accommodation. Approximately six hectares of the property will be developed as a high quality boutique vineyard with Pinot Noir, Chardonnay and Riesling being the preferred varieties. The property is currently an apple orchard which has proved uneconomic. Furthermore the property is well situated for the development of a tourist homestay accommodation with landscaped surroundings given its locality near Nelson and the existing Tasman wine trail. The Applicant’s propose to develop this potential by targeting the middle/upper end of the homestay market with three purpose built accommodation units offering bed and breakfast with meals or self catering.” · Matua Valley Wines Limited, owned 51% by Beringer Blass Wine Estates Ltd, a subsidiary of Fosters Brewing Group Ltd of Australia, 23.275% each by The Ross Spence Family Trust and The William Ross Spence Family Trust of Aotearoa, and 2.45% by Mark Robertson and Jane Osborne of Aotearoa, has approval to acquire 17.0 hectares at Hawkesbury Road, Marlborough for $3,372,000 from JML and J Veal of Aotearoa. Matua is “one of the top six New Zealand wine producers and is involved in all aspects of the winemaking process, from grape growing to wine making and distribution (both domestically and internationally). Its grape growing interests are located in Kumeu, Gisborne, Hawkes Bay and Marlborough and are owned by the Applicant or through contracted growers.” It wants to increase its supply of grapes. The vineyard is currently planted in Sauvignon Blanc, Chardonnay, Pinot Noir and Pinot Gris varieties. Matua last bought land in January 2002 (see our commentary for that month). · Montana Wines Limited, owned by Allied Domecq PLC of the U.K., has approval to acquire 162 hectares at Canshorn, Glasnevin Road, Waipara, Canterbury for $1,912,500 from Nikken Foods Co Ltd, which is owned 67.63% by Hirotomo Ochi of Japan and 32.37% in minority holdings in Japan. Montana “has identified the acquisition of further land for the growing of grapes and production of wine as a way of being able to compete more effectively in the national and international wine markets. The proposal is likely to result in economies of scale through an increased supply of grapes which will enable the Applicant to optimise its existing wine-making facilities.”
The land was acquired by Nikken in 1998 (see our commentary on the September 1998 OIC decisions), when it was described as being at 360 Glasnevin Road, Amberley, Canterbury. It bought it for $1,400,000, so has made half a million dollars on the deal. However its rationale then was considerably more utopian. Nikken said it “intends to convert the existing farming operation on the property to an operation producing organic products including both organic sheep, cattle, vegetables and grain. Nikken Foods, as a manufacturer of natural seasoning, requires a large volume of vegetables for production.” It would also produce “other health products” for export to Japan. Development on the property would take 2-3 years, involving establishing a “wholly organic farm”, which will take some time in order to rid the property of residues; and then building a factory to undertake the “initial processing” of the produce. Once the factory was established the company would “do a costings exercise to determine whether the final stages of processing can be done in New Zealand … or should be done in Japan.” Obviously it has decided to do neither. In the meantime it has bought the Teschmakers school at Oamaru, Otago, to establish an “international college of health science” which will teach organic farming, and to “establish an organic farm network”. The Glasnevin Road property was to have become a show case organic farm tied to the college. See our commentary on the May 2000 decisions. · Sauvage Family Vineyard, owned 27.1% each by MW Sauvage and AL Sauvage, 21.65% each by WA Sauvage and JJ Sauvage, and 2.5% by NC Rucker, all of the U.S.A., has approval to acquire 20 hectares at Burn Cottage Road, Cromwell, Otago for $1,028,250 from CH and J McFarlane of Aotearoa. The Sauvages propose to establish a vineyard on the property, which has “approximately 12-14 plantable hectares”. Their objective is to become yet another “established small boutique vineyard operation”, producing predominantly Pinot Noir with some Chardonnay and Riesling, using the services of its United States advisers and local viticulturists. They intend to “construct a winery facility and tasting room on the property once the vineyard is established”. They “currently import and distribute New Zealand wine from nine vineyards in the United States and intend using this established network to market the wine produced from the subject property.” Other rural land sales· SM and JD Truss of the U.K. have approval to acquire 7.1 hectares at 427 Wilson Road, South Kaipara Heads, Northland for $185,000 from New Zealand Youth Trust Incorporated of Aotearoa for a “lifestyle property”. They “intend to apply for New Zealand permanent residency under the general skills category” and “intend to reside on the property and construct a dwelling. The property is presently used for casual grazing and is not of sufficient size to be economically viable.” · M Yukic of Croatia has approval to acquire 8.2 hectares at Quine Road, Morrinsville, Waikato for $146,250 from MC and DM Hobbs of Aotearoa. Yukic will amalgamate the property with an adjoining 49 hectare dairy farm. · Jagendar Singh and Sons Limited, owned by 25% each by Mahendar Singh, Ajmer Singh, Ravindar Singh, and Aptar Singh, all of Fiji, has approval to acquire 70 hectares of land at 1841 Main Road, State Highway 2, Maramarua, Waikato comprising 67 hectares of freehold and 2.5 hectares of Waikato District Council Licence to occupy for $1,035,070 from TCJ and BC Van Brecht of Aotearoa. The Singhs propose to convert the property (currently used for grazing cattle) into a dairy farm, though it “has been previously used for dairy farming as recently as two years ago. Most of the necessary infrastructure required for dairy farming is in place and the Applicant proposes to upgrade the property to return it to dairy production.” They also operate an earthmoving company that will be based on the property. They “intend to apply for permanent residency and relocate to New Zealand to operate the businesses. The timing of the applications will be dependent on the sale of their existing Fijian businesses”. · D C Rodee of the U.S.A. has approval to acquire 65 hectares at 379 Matahui Road, RD 2, Katikati, Bay of Plenty for $4,612,500 from the PB Clark Family Trust of Aotearoa. Rodee “is an experienced avocado orchardist” and proposes to convert 53 hectares of the property to an avocado orchard over two years. It “will be one of the largest avocado orchards in New Zealand” with the produce primarily exported to the U.S. “to meet the projected demand in California, where production is in decline due to water shortages and the cost of water supply for irrigation”. The remainder of the property will be used for a shelter belt and “a low lying area unsuitable for planting will be retired and developed as a wetlands sanctuary”. · P and J Swanwick of the U.K., have approval to acquire 62 hectares and 1.8 hectares of Licence at 456 Wani Road, Kerepehi and Fishers Road, Netherton, Coromandel for $1,406,251 from PT and AR Van Der Velden of Aotearoa. The “Licence” is “Waikato Regional council Licence to Occupy P149”. They are buying an existing dairy farm “which will be farmed by their daughter and son-in-law who are both New Zealand residents and experienced dairy farmers”. “The acquisition by the Applicants is part of their succession planning strategies. Essentially the investment is for the benefit of the Applicants’ daughter. Ultimately the farm will one day be owned by the daughter and son-in-law.” · The Trustees of the J O Adams and Son Ltd Pension Fund of the U.K. have approval to acquire 250 hectares at Waingaro, Blackburn Road, Ongaonga, Hawkes Bay for $1,310,625 from the Panorama Trust of Aotearoa. The Fund’s trustees
“are experienced farmers who view this acquisition as providing them with an opportunity to diversify their existing farm interests in the United Kingdom and New Zealand. The subject property will be farmed in conjunction with a New Zealand farming company who leases an adjoining 420 hectares bringing economies of scale to the operation and resulting in an economic unit. The Applicant proposes to increase production from the property by increasing carrying capacity and an emphasis on finishing lambs for the United Kingdom market. In this regard they intend to enter into a contract to supply Progressive Meats Limited, a member of the Bernard Matthews “Group”, a United Kingdom meat processing and distribution group.
The Applicant has also proposed to introduce the Beltex breed of sheep into New Zealand. The Beltex is a high yielding double muscled sheep. In the last eight years the Beltex, originating from the Dutch Texel and improved by the Belgians, has escalated to the top carcass breed in the United Kingdom. However, no formal consultation with the Ministry of Agriculture and Forestry regarding introduction of the Beltex sheep has been undertaken and will not be undertaken until the European foot and mouth crisis has cleared.
In addition to the Beltex the Applicant intends to farm Belgian Blue cattle. Both breeds are high meat yielding.” · Bakker Bulbs Limited, owned by C. P. Bakker Heerhugowaard Holding BV of the Netherlands, has approval to acquire 15 hectares at 109 South Town Belt, Rakaia, Canterbury for $371,250 from DN and JM Nelson of Aotearoa. Bakker “is a flower grower/bulb producer with operations in the Netherlands. The purpose of expanding to grow bulbs in the southern hemisphere is that it enables bulbs to be exported to the northern hemisphere during the northern winter therefore allowing year round supply.” Bakker Bulbs appears to have already acquired the property, because the OIC says that they “have established a large shed and coolroom unit for the processing and storage of bulbs”. The property “is currently operated as a plant nursery”. Bakker “also leases further blocks of land for the purpose of growing lily bulbs. These bulbs will also be harvested and processed through the plant established on the subject property”. · The Suivant Le Soliel Trust, owned by RL Brown and Family of the U.S.A., has approval to acquire a block of land from Closeburn Station on the Glenorchy-Queenstown Road, Queenstown, Otago. The station is owned by J. F. Investments Ltd, which is 70% owned by David Salman of Indonesia and 30% by D. Broomfield of Aotearoa. J.F. Investments are subdividing nine hectares of the station as “lifestyle properties” into 27 residential allotments, each of which will have a share of the remaining approximately 1003 hectares which will still be farmed (see our commentary on the July 1998 decisions for details). The land adjoins Lake Wakatipu and conservation land. The Suivant Le Soliel Trust is acquiring 37 hectares comprising a block of 0.44 hectares plus 37 hectares which is a 1/27th interest in the remaining land, for $930,000.
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