NZ: Japanese buy vineyard
NZ: Japanese buy vineyard
Jan 19, 2012 6
(Stuff) - Overseas interest in Marlborough's wine industry accounted for four out of five applications to buy land approved by the Overseas Investment Office for the region last year.
Japanese company The Folium Vineyard (TFV) was allowed to buy 8.42 hectares in Brancott Rd for $2.24 million in March 2011. The vineyard was formerly owned by Fromm & Partner.
The application was approved on the grounds it would create and retain jobs, increase exports, and provide investment for development.
TFV said Japan was the eighth largest market in the world for exporting New Zealand wine. Wine had become one of the most popular alcoholic beverages in Japan.
Comments