Japanese buyer has big golf plans

Hiroshi Hasegawa has bought the upmarket Terrace Downs golfing resort an hour's drive south of Christchurch. Photo / Supplied

A Japanese investor has bought Canterbury's upmarket Terrace Downs golfing resort, taking control of the 250ha rural property with its large stone-clad lodge.

The Overseas Investment Office granted Hiroshi Hasegawa approval to buy all the shares in Cathedral Square Investments for an undisclosed sum. That company owns the luxury estate near Windwhistle, offering two-night packages for $849.

Marketing and IT millionaires Tim Williams and Jonathan Hendriksen sold Value Click Japan eight years ago and bought the resort. Williams has since built a gated clifftop mansion near Takapuna Grammar on the North Shore.

Hendriksen said yesterday he would remain at Terrace Downs and manage the changes. The Japanese owner has big plans for the property.

"The applicant intends to work with current management to improve the resort so that it becomes globally recognised as a leading luxury golf and adventure destination," the office said.

The resort is an hour south of Christchurch and 20 minutes from Methven.

In other decisions out yesterday, the world's largest hotel chain, Accor, gained consent to buy shares in two New Zealand hotels.

Accor's AAPC Properties of France bought property from Australia's Mirvac Woolloomooloo - the Sebel Suites in Viaduct Harbour and Quay West Suites Hotel at 8 Albert St, both in Auckland.

Accor is expanding its New Zealand hotel management.

Various businesses related to Australian firm Carriage got permission to buy New Zealand's Go-Bus Holdings and the deal needed approval because sensitive land on Lincoln Rd and Bernard St in Christchurch was involved.

Go-Bus will expand services in existing and new regions.

Belgian Francois Mandy got permission to buy apartment 1201 at 45 Stanley Point Rd on Auckland's North Shore. He invested significant funds in forestry ventures in New Zealand in the early 1990s and wants to retire here.

Film mogul James Cameron has again extended his Wairarapa farm holdings, this time by 25ha. Throughout this year, the Canadian director has succeeded in applying to buy chunks of farm land via the state authority.

The three decisions released were for a 13.4ha block from an unnamed party, a 4.3ha block from Andrew Scott Miller, of the United States, and a 9.1ha block from Victoria Ann Shaw and Jeremy Richard Bennett of New Zealand.

The man behind Avatar and Titanic has made a series of separate applications to buy farmland in the area and now has well over 1000ha.

Cameron and his family intend to reside indefinitely in New Zealand and Europe Research of Canada was buying two blocks as part of the wider acquisition.

Cameron's Anglin Classics, of Canada, applied to buy the larger 13.4ha block. All 25ha is at Western Lake Rd and all prices on the land were confidential in the OIO decisions.

Andrew Patersen, of Bell Gully, handled the applications to the office and the purchases needed approval because the land is regarded as sensitive.