James Cameron continues NZ buying spree

Last updated 15:39 31/07/2013

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Hollywood filmmaker James Cameron is buying another large Wairarapa property.

The Overseas Investment Office revealed today that it has granted permission for the Avatar and Titanic director to buy 420 hectares of land in Western Lake Rd, south of Featherston.

The value of the sale was kept confidential in the decision, which was made last month but made public today.

The land was sold by Peveral Industries Ltd and Macland Farms Ltd - both 100 per cent New Zealand owned.

As with previous decisions, the office reiterated that Cameron, 58, and his family - wife Suzy Amis and daughters Claire and Quinn, 10, and Elizabeth Rose, 5 - plan to live indefinitely in New Zealand and are buying land on Western Lake Rd to use together as a home and working farm. 

This latest decision followed the purchase last month of a walnut orchard in Carterton and another 10-hectare property on Western Lake Rd.

In a buying spree over the last few years, the Canadian-born director - who has helmed some of the most lucrative films in cinema history - paid about $20 million for a 817ha Pounui property and a 250ha dairy farm in January 2012.

Later in 2012 he added a 10ha lifestyle block, two further lifestyle blocks and a 13ha site containing several buildings - all in the South Wairarapa district.

Documents released under the Official Information Act last year showed that Cameron applied for New Zealand residency under Immigration New Zealand's Investment Plus category - which is restricted to people investing more than $10m.

He was required to spend at 88 days in the country over two years to meet his residency requirements.

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- © Fairfax NZ News

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