Foreign land deals get OK after school donations

The rapidly growing Jack's Point area near Queenstown - home of a planned new luxury resort built by an Australian developer. File photo.

Foreigners making substantial financial donations to New Zealand schools are getting big land purchases approved.

The latest Overseas Investment Office decisions released this morning showed two such cases.

Glenorchy Homestead of Malaysia and Singapore got approval for a $2.7 million deal to buy land at 761 Malaghans Road in Arrowtown.

They will make a "$100,000 donation to the Wakatipu High School Foundation which must be used to provide financial assistance or hardship allowances for students at the school" and also consult with the Department of Conservation over the protection or enhancement of significant native vegetation or animals on the property, the OIO said.

In a separate deal, Bernard Jean Sabrier of Switzerland got consent for a $1.4 million deal to buy 47ha of land at Mataka Station in the Bay of Islands from an American Laurent Esquier.

"The applicant will make a donation to the Bay of Islands International Academy which will help address the school's critical needs - namely the support of priority learners and special needs students, and the preservation of a languages programme in Te Reo Maori and Spanish," that consent said.

In other deals, a new luxury resort on the fast-growing Jacks Point at the foot of The Remarkables and a polo retreat is being planned.

A new five-star luxury resort over three combined properties is being planned, with a hotel including restaurants, meeting facilities, fitness facilities and lodge, about 33 cabins, 14 two-bedroom units and 18 three-bedroom residences.

Wild Grass of Australia got consent to buy the land outside Queenstown from New Zealand's Jacks Point Land Holdings.

In another deal, consent was granted for a land purchase to build a polo facility in Queenstown. Australia's TJ Investments got consent for that deal. The land vendor is T A Property Trust of New Zealand involving members of the Porter family.

In a third deal, consent was given for a big fleet lease motor vehicle deal involving $279.4 million of assets. Germany's Volkswagen and Friedrich von Metzler are selling assets to global business LP Group B.V. LeasePlan NZ making a longterm investment here, consent says.

Pacific Health Group, owned and/or advised by Australia's Pacific Equity Partners, got consent for a manuka honey deal involving $110 million of assets.

"Manuka Health New Zealand Limited is a privately owned New Zealand company that develops, manufactures and distributes (both in New Zealand and overseas) Manuka honey and various other Manuka based products.

The investment is an opportunity for the applicant (with the support and expertise of PEP, and additional capital which may be invested) to further broaden and grow Manuka Health New Zealand Limited's business in New Zealand and in overseas markets," the decision sheet said.

See a Google map of the Arrowtown property bought by Malaysian and Singaporean interests here: