Canadian film director James Cameron is continuing his buying spree in the Wairarapa.
He now owns a large swathe of land along the western edge of Lake Wairarapa of more than 1500ha that has cost him well over $20 million.
In the latest deal, he has Overseas Investment Office permission to buy 6.7ha at Western Lake Rd, south Wairarapa “for use as a residence and working farm.”
The vendor was the Gascoigne family.
Mr Cameron, 58, also has the go ahead to buy 41ha at 3434 Western Lake Rd from Kiriwai Farm.
The amounts he has paid have been kept secret by the OIO.
These acquisitions follow earlier purchases including 420ha in Western Lake Rd where the price also kept secret.
The land was sold by Peveral Industries and Macland Farms.
The information from the OIO claims that Mr Cameron and family plan to live in New Zealand. Under residency rules he must spend at least 88 days in New Zealand over two years.
His other acquisitions include a walnut farm at Carterton.
One of the issues of contention over his purchases is access to Lake Pounui in the centre of one of his acquisitions from 2012.
Some locals have queried whether he will continue to allow public access.
Chris Hutching for NBR NZ Property Investor
Mon, 30 Jun 2014
Mon, 30 Jun 2014
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