btn enquire

Overseas Buyers

Gracefarm,  New  Zealand  rural   lifestyle of preference.  Tick all the boxes

 

If you are considering migrating to New Zealand for part time or permanent occupation   OR an expat New Zealander planning to establish a home base now or for the future, Gracfarm Estate offers a special, secure, rural lifestyle that could be right for you.


 Consider these features

 

  •  

 

Contact us now

Prices of Freehold rual sections and what does that convert to

Price $265,000 NZ

At exchange rates on 13th October 2010

US and AUS @ say 75cent to NZ dollar  cost  $198,750  US or AUS

UK pound @ 47p to NZ dollar  cost 124,550 pounds

Euro  @ 53 euro to NZ dollar  cost 140,450 euro

 

 Lifestyle Properties & New Migrants

The Overseas Investment Office (OIO) handles applications for consents for overseas investors to buy land in New Zealand. Lifestyle property is mentioned specifically in their web site. 

Our interpretation for overseas investors to buy a lot on Gracefarm Park rural property is that it may be subject to an application for a consent through the OIO. It comes under the catagory of non-urban in the description of "sensitive land"  Land on Gracefarm Park is zoned Rural.  The second test is land area. If the land area exceeds 5 hectare the purchase is subject to a consent. With Gracefarm a purchaser is buying a freehold site of only .4 hectare, however the land title also includes a 1/12th share in the common land comprising 98 hectare. It depends how the OIO interprut this but it may mean that the area of land exceeds the minimum area permitted with out applying for a consent.. We are seeking an opinion on this

 

Here is an extract from the OIO web site regarding Rural Lifestyle property 

 

Introduction to Lifestyle property

Before buying a lifestyle property or holiday home in New Zealand you may need to apply for consent.

Consent is only required if you are an overseas person as defined in New Zealand’s legislation and the property is considered “sensitive” land. They suggest obtaining legal advise about this  (see below for definition of sensitive land)

If you are planning to migrate to New Zealand indefinitely, you may need to consider short term accommodation in New Zealand before buying a lifestyle property. However, consent may be granted in advance if you can demonstrate your intention to migrate to New Zealand indefinitely.

Lifestyle properties are not defined by the Overseas Investment Act 2005, nor is there any concessional treatment for property being acquired for purely personal or lifestyle purposes. However, the OIO’s approach is somewhat different than other forms of investment.

 

Selling New Zealand Assets to Overseas Investors

Overseas investors or associates of overseas investors may need to apply to the Overseas Investment Office (OIO) for consent if they plan to acquire:

  • sensitive land or an interest in sensitive land (eg by buying shares in a company that owns sensitive land), or

  • business assets worth more than $100 million, or

  • fishing quota or an interest in fishing quota.


 

Schedule 1 of Part 1 describes:
What land is sensitive

What land is sensitive

Land is sensitive under this Act if—

  • (a) the land is or includes land of a type listed in table 1 and the area of that type of land exceeds the corresponding area threshold (either alone or together with any associated land of that type), if any; or

  • (b) the land (land A) adjoins land of a type listed in table 2 and the area of land A exceeds the corresponding area threshold (either alone or together with any associated land), if any.

Table 1

Land is sensitive if it is or includes this type of land   ... and that type exceeds this area threshold (if any)
non-urban land  (Gracefarm Park may come into this catagory)   5 hectares
land on islands specified in Part 2 of this schedule   0.4 hectares
land on other islands (other than North or South Island, but including the islands adjacent to the North or South Island)  
foreshore or seabed  
bed of a lake   0.4 hectares
land held for conservation purposes under the Conservation Act 1987   0.4 hectares
land that a district plan or proposed district plan under the Resource Management Act 1991 provides is to be used as a reserve, as a public park, for recreation purposes, or as open space   0.4 hectares
land subject to a heritage order, or a requirement for a heritage order, under the Resource Management Act 1991 or by the Historic Places Trust under the Historic Places Act 1993   0.4 hectares
a historic place, historic area, wahi tapu, or wahi tapu area that is registered or for which there is an application or proposal for registration under the Historic Places Act 1993

To view the Overseas investment Office website  it can be found here   www.linz.govt.nz/overseas-investment/index.aspx

 
   

Contact Us

Email: ray@gracefarm.co.nz
Phone:  +64 9 4238707
Mobile: 0274939703

20 Mangawhai Road, RD 5
Wellsford, 0975
 

btn enquire2

or call on

027 4939703