Foreign investment in Aotearoa/New Zealand
Overseas Investment Office – Repercussions From February 2017 Decision
The February 2017 Decisions (written up by Linda Hill) included this:
Paying Your Way On Waiheke
Keith and Alison Ross (Australia 100%) have consent to acquire approx. 2.4 hectares at 115 Nick Johnstone Drive, Waiheke Island from Nicholas Lindsay Scott Johnstone, Annette Mary Johnstone and Robin Winston Hargrave (trustees of the NLS & AM Johnstone Home Trust, 100% NZ). Price was $8 million. The land is being sold as a luxury residence featuring a large house, bush and bare, undeveloped land. The Rosses intends use the dwelling as a holiday home and will carry out an ecological development plan include planting and ongoing maintenance of indigenous plants, pest plant control, fencing and mammal pest control.
They will donate $NZ120,000 over eight years to the Royal Forest and Bird Society to fund works on the Atawhai-Whenua Reserve adjoining the land. They will also donate $NZ70,000 over seven years to the Westpac Rescue Helicopter service that provides medical services to residents of Waiheke Island. The transaction satisfied the s.16 criteria of the Overseas Investment Act 2005, with “benefit to New Zealand” under s.17(2)(a)(i) jobs, s.17(2)(b) indigenous vegetation/fauna, and Regulations 28(a) consequential benefits and 28(f) advance significant Government policy or strategy.
A Waiheke resident contacted CAFCA to report that this donation led to local Forest & Bird Committee resignations because, until 2008, Keith Ross was Managing Director of Whitehaven Coal Co with controversial mines at Maules Creek, NSW. See the report on Whitehaven Coal
Campaign Against Foreign Control of Aotearoa,
P.O. Box 2258
Christchurch.