| Decision | Consent granted Section 12(1)(a) and Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 17 December 2025 |
| Pathways | Sensitive land‑Special forestry (One‑off) and Significant Business Assets |
| Investment | Acquisition of a freehold interest in approximately 12,790.26 hectares of land in the Northland region (known as the Bayleys, Littles, Maropiu, Opouteke, Punakitere, Tangowahine, Waimatenui and Waiotama Forests) and 80.97 hectares in the Gisborne region (known as the Ormond Valley Forest). |
| Consideration | $134,150,000 |
| Applicants | Ingka Investments Forest Assets NZ Limited and Ingka Investment Managements NZ Limited Netherlands 100% |
| Vendors | Greenheart Mangakahia Forest Land Ltd, Greenheart Papakorakora Forest NZ Ltd and Greenheart Mangakahia Forest Maori Land Ltd Hong Kong 100% |
| Background | The Applicants will acquire the land, and hold a forestry right over the land, respectively. The Applicants are owned by Ingka Investments B.V., the investment arm of Ingka Group, which is the largest franchisee of IKEA stores internationally. The land is currently used for forestry purposes with the total productive area being approximately 9,952.2 hectares of pinus radiata. The Applicant plans to continue using the land for production forestry with harvesting commencing in 2028. Consent was granted as the Applicant met the investor test criterion and the special forestry test criteria. |
| More information | Pavanie Edirisuriya DLA Piper New Zealand PO Box 160 Auckland 1140 |