| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 10 June 2019 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 1,876 hectares of land at Lucas Road and Pokapu Road, Moerewa, Northland, currently known as ‘Moerewa Station’ (the Land). |
| Consideration | $15,000,000 |
| Applicant | Kauri Forestry LP Switzerland (93%) Germany (7%) |
| Vendor | Moerewa Station Limited as trustee of the Moerewa Station Trust New Zealand (100%) |
| Background | The Applicant has applied for consent under the special test relating to forestry activities set out in section 16A(4) of the Act. The Land to be acquired is currently in use predominantly as a dry stock farming operation, although also includes 251 hectares of existing forest. The Applicant will subdivide and sell two areas of flat farm land with dwellings not required for forestry activities (275 hectares combined), and plant and maintain a commercial forest of radiata pine over approximately 1,175 hectares of the remaining land. The majority of the new forest will be planted in the winter planting seasons commencing May 2020 and May 2021, although some planting will occur in 2019. The expected rotation time for the trees is between 25 to 30 years. |
| More information | Christina Lefever Duncan Cotterill PO Box 5 CHRISTCHURCH 8140 |