Box-office record breaker James Cameron is now also a Wairarapa walnut farmer, as his buying spree moves northward into the Carterton district.
Cameron, maker of some of the highest grossing films in history, was given permission by the Overseas Investment Office to buy a working walnut orchard in Carterton, as well as another 10-hectare property on Western Lake Road, south of Featherston, where he has previously bought several properties.
In decisions released today by the OIO, the amounts paid for the properties were kept confidential.
The OIO said both purchases, described as "overseas [investments] in sensitive land", satisfied the requirements of the Overseas Investment Act 2005.
The OIO said the Camerons intended to reside indefinitely in New Zealand and were acquiring the Western Lake Rd land as part of a larger acquisition to be used as a residence and working farm.
It said Cameron planned to continue to operate the orchard as a working walnut orchard, and that the vendors would also help him to establish walnut trees on Pouinui Station, which Cameron acquired last year.
Cameron paid about $20 million in January 2012 for the 817ha Pounui property and a 250ha dairy farm.
In March, he added a 10ha lifestyle block, and in June added two further lifestyle blocks and a 13ha site containing several buildings.
- © Fairfax NZ News
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