| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 19 March 2025 |
| Pathway | Benefit to New Zealand (Benefit to New Zealand - Farm to Forestry conversion) |
| Investment | Acquisition of a freehold interest in 804.78 hectares at 413 Te Manuiri Road, Omakere, Central Hawkes Bay. |
| Consideration | $8,600,000 |
| Applicant | Kauri Forestry LP Switzerland 69% Germany 31% |
| Vendor | AJ and MA Smith Family Trust New Zealand 100% |
| Background | The Applicant is a New Zealand limited partnership which is part of the Craigmore Sustainables Group. It is a forestry and horticulture investment vehicle which currently holds over 19,000 hectares of land in New Zealand for forestry investment purposes. The Applicant is acquiring a sheep and cattle breeding farm in Central Hawke’s Bay. The Applicant will convert approximately 525 hectares of the land into a commercial plantation forest (predominantly pinus radiata) with planting scheduled for winter 2025 and 2026. Once matured, the crop of trees will be harvested and replanted. The property consists of Land Use Capability (LUC) class 3 (approximately 5 hectares), LUC 4 (approximately 57 hectares), LUC 6 (approximately 431 hectares) and LUC 7 (approximately 312 hectares). The key benefits that will likely result from this investment are economic benefits in the form of increased export receipts, creation of employment, and additional capital investment. Consent was granted as the Applicants have met the investor test criterion and the investment is likely to benefit New Zealand. |
| More information | Christina Lefever PO Box 33064 Barrington, Christchurch 8244 |