The Overseas Investment Office has forced BCH Investments Ltd to sell the illegally bought land following an investigation. The company has also been instructed to sell the Albany properties within two years after they bought 5ha of land without OIO approval. "The OIO has an important role in protecting our sensitive land, and we will continue to pursue cases where people have bought land illegally." BCH bought properties at 79-95 Gills Rd in Albany for $12.95 million in 2013. Meanwhile, the owners of two Warkworth properties were fined $2.95 million after an OIO investigation found they too were bought illegally.

Source: Otago Daily Times July 15, 2019 06:33 UTC