| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 1 April 2026 |
| Pathway | Sensitive land - Special forestry (One-off) |
| Investment | Acquisition of a freehold interest in approximately 521.3312 hectares of land located at 566 Speedy Road, Weber, Tararua District. |
| Consideration | Withheld under s9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Ingka Investments Forest Assets NZ Limited and Ingka Investments Management NZ Limited Netherlands 100% |
| Vendor | Cranco Forst United States of America 100% |
| Background | 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 Applicants will acquire the land, and hold a forestry right over the land, respectively. The land is currently used for forestry purposes with a total productive area of approximately 364 hectares (of this 49.4 hectares is cut-over land which the Applicant will replant). The Applicant plans to continue to use the land for production forestry. Consent was granted as the Applicants met the investor test criterion and the special forestry test criteria. |
| More information | Pavanie Edirisuriya DLA Piper New Zealand PO Box 160 Auckland 1140 |