James Cameron has added another 20 hectares of land to his Wairarapa holdiings, including a Walnut orchard.
Overseas Investment Office documents released today (here and here) show the Hollywood director was given approval in May to buy two 10ha blocks.
One is on Western Lake Rd, where Mr Cameron already owns two properties, a 250ha dairy farm and a 817ha hillside block overlooking Lake Pounui.
"James F. Cameron and his family intend to reside indefinitely in New Zealand. They are acquiring the land as part of a larger acquisition of land in South Wairarapa which they will use as a residence and working farm," the application says.
The other block includes the Pinnacle Grove walnut orchard at 240 Norfolk Road, Carterton (see map below).
Mr Camerson "intends to continue to operate the land as a walnut orchard and utilise the vendors’ knowledge and expertise to establish walnut trees on Pounui Station," the application says.
A Canadian by birth, Mr Cameron has applied for New Zealand residency under Immigration New Zealand’s Investment Plus scheme. This category applies to people investing more than $10 million.
To qualify he must spend a minimum 44 days a year here each year in the final two years of a three-year investment period.
No sale prices are included in the OIO decisions, as per the director's demands. But NBR understands Mr Cameron has spent upwards of $20 million on his Wairarapa purchases so far.
The May round of Overseas Investment Office decisions also includes approval for Australian company MYOB to buy Auckland-based Media Transfer Services (trading as BankLink) for $136 million.
The deal closed on June 4 (read The $136 million payday).
NBR staff
Mon, 01 Jul 2013
Mon, 01 Jul 2013
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James Cameron adds walnut orchard to his Wairarapa holdings
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