| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 9 August 2019 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 736.2195 hectares of land at 450 Mohaka Coach Road, Kotemaori, Wairoa (the Land). |
| Consideration | $6,700,000 |
| Applicant | Grandy Lake Forest (NZ) Limited Gemmingen-Hornberg family, Germany (100%) |
| Vendor | Whaitirinui Farm Limited 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 Applicant is a company that has been investing in forestry in New Zealand for 18 years. The Applicant owns a forestry block that adjoins the Land and is acquiring the Land to develop it into a commercial forest. The Applicant intends to develop approximately 496 hectares of the Land into a commercial forest. There is also an existing pre-1990 forest area of approximately 48 hectares of mixed poplar/willow stands that will be retained and/or replanted in alternative species tree crops. The Applicant does not intend to clear the existing areas of pioneer indigenous forest and indigenous vegetation. |
| More information | Jonathan Norman Sainsbury Logan and Williams PO Box 41 NAPIER |