February 2002 decisionsTwo refusals: Butterfly farm in Coromandel and Waihi beachfront farm Rausing family buys another farm Colonial First State of Australia buys properties from Kiwi Income Universal Homes of Singapore and China buys more land at Huapai, Auckland Maclab of Australia acquires Coromandel land for mussel processing Taiwan marketer of goat milk products buys share of suppliers Raetahi Lodge, Double Bay, Kenepuru Sound, Marlborough sold to Hong Kong Third property for U.S. buyer: 4,539 ha. Brooksdale Station, Canterbury Homestay at Dalefield, Queenstown Two refusals: Butterfly farm in Coromandel and Waihi beachfront farmNo less than two applications were refused this month, both in Coromandel. Also unusual was the fact the no information was suppressed by the OIC. The refusals were: · C.P. Farrell and J.B. Calvert of the United Kingdom, were refused permission to acquire 8.8 hectares at 51 Radar Rd, Hotwater Beach, Coromandel for $370,000 from Coastal Lifestyles Ltd of Aotearoa. “Mr Farrell is a United Kingdom citizen and Mr Calvert is a New Zealand citizen domiciled in the United Kingdom. The Applicants have more than 20 years experience with butterfly gardens in the United Kingdom, the United States and Europe as well as other parts of the world. In the United Kingdom the Applicants operate Stratford Butterfly Farm. The Applicants are the world’s largest supplier of butterfly pupae to butterfly gardens and zoos. The Applicants also supply butterfly pupae to museums and insectariums throughout the world. The Applicants carry out scientific research, advise and carry out considerable work in roadside plantings and new housing development landscaping schemes and carry out education programmes, including visits by more than 20,000 school children per year. The Applicants propose to establish a butterfly garden at the property they are purchasing at Hot Water Beach. They intend to open the garden to the public (after 4 -5 years, being the site development period required for the garden) and use it as a show case for a possible commercial butterfly exporting operation, which they would operate from another property that they have yet to acquire.” · B R Pettitt and Y W Y Leung of Hong Kong were refused approval to acquire 348 hectares at 165 Golden Valley Road, Waihi, Coromandel for $4,200,000 from Montrosa Schuler Holdings Limited of Aotearoa. “The property contains a substantial residential dwelling of 513 sq. m. It adjoins the foreshore with 1.5-2 kilometres of beachfront and has views of Waihi Beach and Tauranga Harbour. The property is currently utilised for grazing of dairy heifers and calves for other local farmers. The Applicant proposes to continue grazing stock owned by other local farmers but limiting it to heifers solely and increase productivity through more intensive farming methods. It is claimed that this is likely to result in increased weight gain of the stock.” Rausing family buys another farmThe Ingleby Company Ltd, owned by The Ingleby Trust of the U.K., has approval to acquire the 1,330 hectare Raincliff Station, Raincliff, Geraldine, Canterbury for $9,450,586 from Quantock Family of Aotearoa. Ingleby proposes “to operate the property as an intensive cattle finishing and a deer breeding and finishing farm”, and will “upgrade and improve the property to run increased stock numbers, enhance productivity and product quality”.
Ingleby has had six purchases approved by the OIC before this one and was a mystery investor. Its first purchase was in September 1999, when its owner was described as being in the U.S.A., but had its identity suppressed. From January 2001 however it was described as being from the U.K.
In fact it turns out to be one of the holding companies of the Rausing family. The tax avoidance obsessions of the richest man in Britain, Hans Rausing, were the subject of an investigative article in the Guardian (U.K.), “Playing the system”, by Nick Davies, 11/4/02. In the article’s introduction, Davies writes:
The richest man in Britain has used so many loopholes in UK tax law that he has not only saved himself millions of pounds in potential tax but, in at least one year, he and his UK businesses ended up receiving more money from the Treasury than they handed over…
Hans Rausing, 76, earned one of the largest cash fortunes in history six years ago [in 1996] when he sold his interest in 50%of Tetra Pak, the Swedish company which makes the ubiquitous milk cartons. He and his family, who were already multimillionaires, shared a windfall of £4.5bn, equivalent to the gross domestic product of Malta and Zambia combined.
This year he has once again been ranked the richest man in Britain by Forbes magazine and the Mail on Sunday’s Rich Report and the second richest by the Sunday Times Rich List.
But Rausing, who has lived in England for 20 years, pays UK tax on only a fraction of his wealth. Like most rich people, Rausing has arranged his fortune through a secret network of offshore havens and onshore loopholes. We have tracked parts of it.
We have found some evidence which the Inland Revenue may want to investigate but more than that, we have uncovered yawning gaps in UK law which allow the very rich to treat UK income tax as an optional obligation, paying dramatically less than the 40% rate set by parliament, legally holding on to a fortune which would otherwise enrich the public sector.
· All of the income and capital gains which Rausing keeps in the rest of the world have been allowed to escape UK tax because, although he is resident in the UK, he is still domiciled in Sweden for tax purposes; · the profits of his finance company in London have escaped tax because they have been donated to his own family charity; · his two other UK businesses – both farms – have paid no tax because they made annual losses; · in the meantime, the farms have claimed hundreds of thousands of pounds in UK grants, tax breaks and VAT refunds. Rausing told us he had never been interested in tax questions. “Is it correct to accept the rules and regulations of the state and Treasury?” he asked. “If it is correct to accept them, I cannot reasonably be attacked for doing it.”
This is the story not only of one man’s prolific tax avoidance, but of a society which has sprung a multimillion pound leak. Britain has become a tax haven for the very rich partly because – for those who can afford the expert advice at up to £600 an hour – British tax law contains notorious gaps; and partly because the globalised movement of capital makes it easy to shovel money through those gaps. People like Hans Rausing do not break the law; they do not have to.
In the globalised economy, they just walk through it. (See http://www.guardian.co.uk/uk_news/story/0,3604,682292,00.html.)
The story caught the eye of journalists in Aotearoa because among Rausing’s many holdings it mentioned that “In New Zealand alone since September 1999, they have spent just over NZ$21m (£7m) on more than 7,000 hectares of farmland.” The rules of engagement for Rausing senior were described as follows:
When they received their 1996 flood of cash, he and his two daughters, Lisbet and Sigrid, invested it in search of yet more. There was so much of it that it took them 10 months to set up a structure to handle it. They opened what was, in effect, a private bank and brokerage house, Arctic Services AG, based in Bleicherweg, Zurich, where they hired a small staff to move their billions around the planet in search of profit. For example, they embarked on a massive project to buy up prime arable land. An internal Rausing memo set out the objectives.
“Losses are unacceptable,” it said, adding: “Cheap labour, subject to proper ethical safeguards, is acceptable.” The memo went on to consider the quality of land, availability of water, profitability, labour costs and the environment but never once suggested that the family ought to invest in the UK: “We prefer working in English and neo-English countries (eg Australia, Canada), but we are willing to work in less stable political environments if the increased political risk is offset by price discounts and excellent long-term prospects.”
New Zealand was apparently sufficiently neo-English.
When the Listener consulted CAFCA on what the New Zealand land holdings might be, we could only guess that Ingleby best suited the bill. However that was confirmed by Sunday Star-Times journalist, Sarah Catherall, who contacted Davies for the identity of the New Zealand holding company. Her story appeared in the Sunday Star-Times on 28/4/02 (“Billionaire’s NZ buy-up”, p.A7), including information and comment provided by CAFCA. Ingleby’s land holdings in Aotearoa are listed below, from our previous OIC commentaries.
Davies informs us that “The main mover behind the purchase of the land is Hans’ eldest daughter, Lisbet Rausing, aka Lisbet Koerner, although the money she is investing is Rausing family money, via Arctic, their Swiss holding company. Her adviser on this is a Kent landowner and farmer called Oliver Doubleday.”
Land that the OIC has previously approved for sale to the Ingleby Trust is as follows:
September 1999: In a decision with a number of unusual parts suppressed, The Ingleby Company Ltd, the name of whose owner in the U.S.A. was suppressed, gained approval to acquire the 3,616 hectare Puketiti Station, Haku Road, near Piopio, King Country, Waikato, for $8,500,000.
“Puketiti Station is described as a large back country station which has been on the market for some years. The current use of the property is mixed cattle and sheep farming carrying about 25,600 stock units over a grazeable area of approximately 2,700 hectares.”
The 17th longest cave in Aotearoa, the Thunderer Cave (4,726 metres), is in the Puketiti area. It, along with other caves in the area, are accessed through the Station.
March 2000: The Ingleby Company Ltd, owned in the U.S.A. gained approval to acquire two further blocks of land at Paekaka Road, near Piopio. One was of 414 hectares, for $2,868,750, the other of 175 hectares, for $1,209,375. The new acquisitions would give “significant efficiencies of scale” and would be used for finishing stock from Puketiti. The company has also “entered into a relationship with Massey University that will result in experimental and research work being undertaken on its properties.”
September 2000: The Ingleby Company Ltd of the U.S.A. was given approval to acquire the 2,180 hectare Pakira Station, at Te Kumi Road, Hicks Bay, Gisborne, which it purchased from Pakira Station Ltd for $5,460,984. It was to be run with cattle and sheep for meat and wool, and “will be made available for research work by Massey University postgraduate students”.
January 2001: The Ingleby Company Ltd, now of the U.K., received approval to acquire a 192 hectare dairy farm at Paekaka Road, Piopio, King Country for $3,172,500.
August 2001: The Ingleby Company Ltd of the U.K. gained approval to acquire the Waikura Station, Waikura Road, Cape Runaway, Gisborne, which is made up of 2,843 hectares of freehold land and 275 hectares of leasehold. It is being purchased from Awakeri Farm Ltd of Aotearoa for $4,412,175 and will be operated as a sheep and cattle farm. It is a neighbour of the Pakira Station.
November 2001: The Ingleby Company Ltd, which we are now told is owned by The Ingleby Trust of the U.K., has approval to acquire the 5,381 hectare Puketoro Station, Ihungia Road, Te Puia, Gisborne for $4,806,255 from Plateau Farms Ltd. “Ingleby propose to operate the property as a sheep, cattle and deer farm. It is also proposed to further develop the forestry activities on the unutilised bush and scrub areas of the property. The company’s main objective in purchasing the property is to upgrade and improve the property to enhance productivity and product quality.” Colonial First State of Australia buys properties from Kiwi IncomeColonial First State Property Limited, owned by the Commonwealth Bank of Australia, has approval to acquire unspecified assets from Kiwi Income Property Limited and Kiwi Property Management Limited for $57,750,000. It has approval to acquire “assets of Kiwi Property Management Limited”, and “up to 100 percent of the specified securities of and/or having the right to exercise or control the exercise of the voting power of and/or appoint or control the appointment of the board of directors of Kiwi Income Properties Limited”.
The OIC states that the shareholders of the two “Kiwi” companies are 37.36% in Australia in public listings, 6.5% by LL (Lend Lease) Employee Holdings Custodian Pty Limited of Australia, 3.78% by The Capital Group, Inc of the U.S.A., 2.36% by Merrill Lynch Asset Management of the U.S.A., and 50% in Aotearoa. Colonial “carries on business in New Zealand and Australia managing investment funds in shares, property, fixed interest and cash. It currently manages stock exchange listed unit trusts in New Zealand and Australia with a diverse portfolio of property investments.”
The two “Kiwi” companies are the managers of the Kiwi Income Property Trust (KIPT). They had been half-owned by joint managing directors Ross Green and Richard Didsbury and Australian property group Lend Lease. Colonial acquired management of KIPT as from the end of March 2002, and also manages Newmarket Property Trust and Colonial First State Property Trust. KIPT is one of New Zealand’s biggest listed property companies with a market capitalisation of about $268 million. It invests in large-scale Central Business District commercial and large retail property. As well as managing Newmarket and Colonial First State Property Trust, Colonial First State Property Ltd controls them through its 38% and 62% ownership of them respectively (Press, 3/4/02, “Colonial Prop in no rush to merge trusts”, by Alan Williams, p.26). Universal Homes of Singapore and China buys more land at Huapai, AucklandUniversal Homes Limited, owned 76.1% in public listings in Singapore and 23.9% by China Merchant Holdings International Limited of China, has approval to acquire 2.0 hectares at 64 Tapu Road, Huapai, Auckland for $1,181,250 from Elephant Developments Limited of Aotearoa.
Universal Homes
“is a predominant player in the Auckland housing market selling house and land packages primarily to the mid-income market. Its principal activity is the development of blocks of land in the Auckland region for the construction and disposal of residential house and section packages aimed at the mid range of the housing market. The Applicant is continually searching for land for residential development to meet the demands of the population. The North Shore area is a rapidly growing area with a high housing demand, and Universal Homes has a substantial association with the area, having developed extensive areas of land in that region.
The Applicant proposes to develop the subject land as a 30 unit residential development site with the associated infrastructure and then market the units to the public. The development will commence in February 2002 and is expected to take approximately 18 months.”
Universal’s last purchase was in November 1999 (when it was owned 73% in Singapore, and 27% by China Everbright Holdings Ltd of China). Then it was given OIC approval to acquire three hectares of land at Kyle Road, Greenhithe, North Shore, Auckland, for $1,650,000. Maclab of Australia acquires Coromandel land for mussel processingMacLab (NZ) Limited, owned by J.M. and W.R. Broadbent of Australia, has approval to acquire 0.56 hectares at 185 Wharf Road, Coromandel for $382,500 from Strongman Auto Marine Limited of Aotearoa.
“The primary business of the Applicant is growing, production and processing of mussels for health products and dietary supplement purposes. The proposal will assist the Applicant in developing and arranging for the processing of mussels from the Coromandel area in order to continue and increase its production of its health and dietary supplement products. This involves securing a supply of mussels from growers and from its own water space. The Applicant has purchased one marine farm in the Coromandel area and is looking for other opportunities. The proposal is to develop a marine service facility initially to construct mussel buoys and to act as a base for its Coromandel operation. … As the development will only occupy part of the land it has been agreed that the vendor is to continue their business on the remainder of the property as a lessee.”
In September 1999 we reported that MacLab (NZ) Ltd had approval to acquire 103 hectares of land at Hallam Cove, French Pass, Marlborough Sounds from Nelson Pine Industries Ltd, owned by Sumitomo Forestry Company Ltd of Japan, for $281,250.
MacLab grows and processes mussels for “health products and dietary supplement purposes”, and has a factory in Nelson for this purpose. It intended to use part of the Hallam Cove land for “managing its supply and purchase of mussels from the Marlborough Sounds”. It said it would “develop the land by constructing a warehouse and a wharf at the property to service its growing fleet of vessels used to conduct mussel harvesting”, giving it a “guaranteed increased supply of mussels”. Two-thirds of the Hallam Cove land was in pinus radiata forest, which MacLab will eventually mill. Land for forestry· JPS, owned by the Soper and Wheeler Families of the U.S.A., has approval to acquire 2,082 hectares at Waihi Gorge, Geraldine, South Canterbury for $1,629,000 from JD and NJ Ecroyd of Aotearoa. According to the OIC, “JPS is a New Zealand unlimited liability company which is wholly owned by Soper Pacific LLC. Soper Pacific LLC is a United States company. The shares in Soper Pacific LLC are owned by two other companies, Soper LLC and Soper Company.” This is the fourth acquisition by the Group (see our commentary for August 2001, when it bought 1,278 hectares at Hokonui, Southland; December 2001 when it bought 1,189 hectares at Clutha, Otago; and January 2002 when it bought a 4,146 hectare station at Conway Hills, North Canterbury). The Soper Group has had forest interests in California since the early 20th century. It currently manages 40,000 hectares in California, and its “principal activity is the harvesting and management of trees for sale in the forest products industry”. It “proposes to acquire approximately 10,000 hectares in the lower South Island and convert the land to forestry plantations”. In the present case, “there is a large area of the subject property at higher altitude which has had very low levels of grazing by the vendor over summer. This area also contains a number of trophy hunting wild animals and is essentially marginal for either farming or forestry.” Land for wine· T J and P Evill of Singapore, have approval to acquire 4.2 hectares at Hoddys Road, Richmond, Nelson for $932,618 from RF and MM Stack. It will be used principally as a lifestyle property to oversee their other interests in the region: “They intend to construct a dwelling and to eventually reside on the property. The property has not been recently used for any economic purpose. The Applicants intend to oversee their existing tourism/vineyard interests in the Nelson/Marlborough region from the property. This includes a 70% interest in vineyards totalling 40.072 hectares and a 40% interest in the Hotel d’Urville in Blenheim.” They “intend to apply for New Zealand permanent residency under the Business Investment category in 2004 when their current business contract in Singapore expires.” However, they will plant some grapes: “About half the subject property is to be planted in Pinot Noir vines from which the Applicants intend to launch their own wine label from the property with the wine made from grapes from this property and their existing vineyards.” And they might extend their tourist interests: “In the longer term they intend to investigate constructing self-contained units for use as a potential homestay operation.” The Evills “have previously made other significant investments in New Zealand and will use this property as their permanent residence to oversee their business interests in the region.” In June 2000 the OIC approved the Evill Lawson Partnership which was owned 70% by T.J. and P. Evill, and 30% by R. and B. Lawson of Aotearoa, acquiring two blocks of land in Marlborough for viticulture, one of eight hectares in Chaytors Road, Marshlands, for $343,406, and the second of 23 hectares in Waihopai Valley Road, for $774,998. In July 2000, the Evill Lawson Partnership which by then was owned 75% by T.J. and P. Evill, and 25% by R. and B. Lawson, gained approval to acquire a further block of land in Marlborough for viticulture. It was nine hectares in Chaytors Road, Marshlands, for $485,329. The partnership’s investments include an eight hectare vineyard and winery in Chaytors Lane, Blenheim, known as Lawsons Dry Hills Winery. · Moonee Property Limited, owned by the Bourgeois Family of France, has approval to acquire 8.1 hectares at State Highway 63, The Delta, Wairau Valley, Marlborough for $94,500 from Marlborough Development Company Limited of Aotearoa. The Bourgeois family who own Moonee are “a major French wine producer” who are “already developing a vineyard on a 91.1 hectare property acquired in 2000. This property is being planted in Sauvignon Blanc and Pinot Noir vines. The subject property adjoins the Applicant’s vineyard. The vendor has subdivided it from their property as the vendor deems it to be uneconomic to plant due to a gully between it and the remainder of the vendor’s property”. However, “the property will be converted into a vineyard and up to approximately 4.5 hectares will be planted in Pinot Noir grapes. The remaining area is steep. It is intended that this property will be developed and operated in conjunction with their existing property. · Montana Wines Limited, owned by Allied Domecq PLC, of the U.K., has approval to acquire 42 hectares comprising: · 22 hectares at State Highway 50, Napier, Hawkes Bay; and · 20 hectares at Rapaura Road, Blenheim, Marlborough for $3,900,000 from Sainte Neige Export Wines Ltd, which is owned by Kyowa Hakko Kogyo Co Ltd (90%), and Kanematsu Corporation (10%) both of Japan. The land is being bought to increase Montana’s supply of grapes for wine-making. Montana and Sainte Neige “have a processing agreement and a management agreement in respect to both properties which are located within close proximity of the Applicant’s existing vineyards. The subject properties lack processing facilities and the grapes are currently processed by the Applicant on behalf of the vendor.” · Nobilo Wine Group Limited, owned by BRL Hardy Limited of Australia has approval to acquire 133 hectares of leasehold land at Redwood Pass Road, Awatere Valley, Marlborough for $1,787,845 from The Favourite Limited of Aotearoa on a long term lease. “The property will be planted in Sauvignon Blanc vines and is expected to come into full production in 2007.” It is near other vineyards owned by Nobilo. Taiwan marketer of goat milk products buys share of suppliersOrient Europharma Co (N.Z.) Limited, ultimately owned 50.04% in listed shares in Taiwan and 49.96% by P Tsai of Taiwan, has approval to acquire 22 hectares at 135-139 Burbush Road, Hamilton, Waikato for $2,072,500 from RJ, MM, MJ and KM Moroney of Aotearoa.
This is a case of vertical integration in the supply of goat milk products. Orient Europharma’s “primary business is the marketing and distributing processed goat milk products in Taiwan”.
“In 1997 the Applicant entered into a 50% joint venture with Dairy Goat Co-operative (NZ) Limited (DGC) to market and distribute DGC’s products in Taiwan. The partnership has grown since 1997 and now totals $30 million annually in export sales. As a means of further strengthening the relationship the two partners propose to cross invest in each other’s companies. Since DGC is a farmer co-operative the only means for the Applicant to acquire a shareholding is to purchase a dairy goat farm.
The Applicant intends to develop the goat farm as a showcase property for visits to New Zealand by retailers, suppliers and customers of the Applicant. As the property will be used as a showcase the Applicant intends to upgrade the property and facilities to ensure at a high level of productivity.” Raetahi Lodge, Double Bay, Kenepuru Sound, Marlborough sold to Hong KongChoppy Enterprises Limited, owned 76% by C Symanski and M Leung and 24% by A J Hunter, both of Hong Kong, has approval to acquire 20 hectares at Raetihi Lodge, Double Bay, Kenepuru Sound, Marlborough for $2,399,928 from Raetihi Lodge Limited of Aotearoa. The Raetihi Lodge in the Marlborough Sounds
“is classed as a superior lodge facility providing 14 rooms, a small conference facility, and ancillary support services. The facility was substantially re-built and extended in 2000. The isolation/seclusion coupled with the scenic beauty of the area is a major attraction of the property. The Applicant intends to expand and further upgrade the facilities to match top level international facilities in order to re-position the lodge in the tourism market to attract increased international visitors in particular from the Asian market. The Applicant states they intend to work in with national and local tour operators and work in conjunction with other members of the local tourism industry including fishing charters and the wine industry.” Third property for U.S. buyer: 4,539 ha. Brooksdale Station, CanterburyBrooksdale Station Limited, owned by Julian Hart Robertson of the U.S.A., has approval to acquire the 4,539 hectare Brooksdale Station, State Highway 73, Springfield, Canterbury for $5,636,250 from Estate J Milliken of Aotearoa. The land is made up as follows: · 1,212 hectares freehold; · 18 hectares of Department of Conservation Licence, being Licence part Reserve 1918; · 3,304 hectares of Pastoral Lease; and · 6 hectares of Selwyn District Council Licence, being Licence over Reserve 995.
Robertson
“proposes to increase productivity from the property by utilising more intensive farming methods. It is proposed to increase stock capacity and production by converting the current farming system and farming a high performance sheep flock developed from genetic selection programmes, introducing a herd of high marbling Angus cattle and diversifying into a vegetable seed production programme. It is also proposed to undertake a forestry operation on the less productive parts of the property.
The property currently runs Corriedale ewes producing prime and store lambs. The Applicant proposes to change breed to running Romney Texel cross ewes targeting heavy weight, early season and prime lamb production. The Romney Texel cross breed is high performance in terms of lambing percentage, lamb growth rates and production of a heavy lean carcass in demand in the market place.
The Applicant intends to farm a high marbling breed of Angus cattle and increase numbers and production through increased calving, and more intensive finishing by wintering only high performance cattle. The operation will be targeting the high value high quality Japanese beef market.
Approximately 50 hectares of the flat land on the property are suitable for and will be utilised for vegetable seed production and will provide a profitable diversification and will not have any significant impact on livestock capacity. These will be grown under contract to South Pacific Seeds (NZ).
The Applicant is also proposing to investigate in the longer term the tourism opportunities associated with the property. The property is ideally located at the gateway to the Canterbury High Country and the Tussocklands Park, and within close proximity of an international airport.”
This is not Robertson’s first land purchase in Aotearoa. In the September 2000 OIC decisions we reported that his company, Waiaua Bay Farm Ltd, had approval to acquire 389 hectares at Hikura Road, Kaeo, Northland from Ross Snodgrass Family Trust for a suppressed amount. This was to enable farming on his first property after he had constructed an 18 hole golf course, Kauri Cliffs, on all but 712 hectares of it, with the possibility of a second one. A clubhouse and lodge was also being developed on the property. Approximately 140 hectares was planned to be onsold to a neighbouring farm owner.
The first purchase was approved in December 1994, and was a 1,605 hectare block of rural land near Kerikeri, acquired for an undisclosed sum. As with the present purchase, there were conservation issues. However, the OIC assured us that it was
“advised that Mr Robertson has a close affinity with New Zealand having lived here for over 12 months during the 1970s. He has strong conservationist values, has a very high regard for the relatively unspoilt New Zealand environment and is essentially in this purchase realising a dream for himself and his family to invest for the future in this somewhat remote part of the world and make his contribution to conservation and the better use of under-utilised rural resources.
“The Commission is also advised that Mr Robertson’s principal purpose is to use his capital to bring marginal farmland to full production, to develop timber plantations in suitable areas and to contribute to the conservation of native bush and birdlife and natural features worth preservation. In this regard an area of the property which includes a giant Kauri tree and areas of native bush and known as the Williams Family Reserve will be preserved and developed to become a Queen Elizabeth II National Trust Reserve or a similar type of reserve pursuant to the Resource Management Act or the Reserves Act.”
So, we wondered in 2000, how did it end up as a golf course? Homestay at Dalefield, QueenstownJF and R Stubbs of the U.K. have approval to acquire 0.73 hectares at 446 Littles Road, Dalefield, Queenstown, Otago for $620,000 from SV and NM Perkins of Aotearoa. The property has “a substantial dwelling” on it, which will be used
“to establish a bed and breakfast homestay operation accommodating up to six people. The operation will commence later this year. In 5-6 years dependant on the success of the business the Applicants plan to further extend the accommodation facilities. The Applicants intend to operate the bed and breakfast personally over summer from November to April. During winter from May to October the Applicants will employ a live in host couple to operate the bed and breakfast. The Applicants intend to market the property both in New Zealand and overseas for ski packages and in the longer term plan to landscape the property and offer garden tours and use the property as a wedding ceremony venue.” Other rural land sales· JH and JL White of the U.K. have approval to acquire 5.7 hectares at 287 Lund Road, Katikati, Bay of Plenty for $790,000 from BA and BL Preston of Aotearoa. The Whites “have applied for New Zealand permanent residency under the Business Investor category and propose to acquire a lifestyle property situated at Katikati. [They] intend to reside on the property which comprises a dwelling and a newly established avocado orchard of 350 trees. Given the size of the orchard the property is essentially a lifestyle block. The Applicants have retired and intend to continue to develop and improve the orchard in the future.” · RC and M Benson of the U.S.A. have approval to acquire 603 hectares at Woodstock Road, RD, Oxford, Canterbury for $3,712,500 from the “Public of New Zealand” (what that means is not clear). They “propose to convert the property into a deer unit and introduce a genetic development and elite breeding programme in a manner which will substantially improve the performance and capacity of the property. An area of approximately 40 hectares is planted in forestry which is to be maintained. The deer unit is to be operated by an experienced farm manager and in conjunction with AgResearch in respect to the gene technology and elite breeding programme. It is anticipated that this unit will develop a mixture of stock types and a balance of stags and hinds and young stock with an emphasis on individual high performance.” · Chiam Heng Keng and Teresa Tan Leng Leng of Hong Kong have approval to acquire 7.1 hectares at Main South Road, St Andrews, Timaru, Canterbury for $168,750 from GC and P Bennett of Aotearoa. “Approximately 50% of the property is operated as a market garden and is currently producing strawberries, raspberries and a range of fresh vegetables including potatoes, broad beans, tomatoes, cauliflowers, cabbages, lettuces, sweetcorn, and carrots. The produce is predominantly sold through the retail shop situated on the property. The remainder of the property is used for casual grazing. The Applicants propose to convert the property into an organic market gardening operation, initially producing organic produce for the local market and in the longer term targeting niche markets overseas primarily in Asia, concentrating on the higher value-added produce such as herbs, seeds and fruit. The conversion of the property to an organic horticultural operation will take approximately three years. During the conversion period, the Applicant’s will undertake further feasibility studies as to the best method of developing the property to achieve the optimum productivity levels.” · B S and S G Alpert of the U.S.A. have 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 999 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 Alperts are acquiring 37 hectares comprising a block of 0.23 hectares plus 37 hectares which is a 1/27th interest in the remaining land, for $760,000. · Premier Dairies Limited, owned by the Clinton Family Trust of Ireland, has approval to acquire a further property, this time of 39 hectares at Ryal Bush, No 6 RD, Invercargill, Southland for $511,875 from PD and CA Hampton of Aotearoa. The Clintons have a number of dairy farms in Southland, the last two purchases being approved by the OIC in June 2001 (see our commentary for that month). The present property “is deemed to be uneconomic for reasons of size for its current use and adjoins the Applicant’s existing farm property. The Applicant proposes to develop the property and incorporate it into the existing dairy operation.”
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