| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 20 September 2019 |
| Pathway(s) | Sensitive land – special forestry test |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 170.9200 hectares of land at Whataroa Forest. |
| Consideration | $870,000 |
| Applicant | New Zealand Forest Industries Limited United Kingdom (100%) |
| Vendor | New Zealand Forestland 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 intends to continue the existing land use for commercial forestry. The land currently has 140 hectares of forest which will reduce by 5 hectares as part of harvesting for use as roading and setbacks. The remainder of the land contains approximately 26.7 hectares of non-productive area, 1.2 hectares of steep coastal area, and 2.8 hectares of road and skid. The land will not be used for residential purposes. There is a cottage which will only be used for accommodation for forestry activities carried out on the land. The land contains special land, foreshore and seabed, which has been offered back to the Crown in accordance with the regulations. |
| More information | Catherine Reid Barrister catherine@catherinereid.co.nz |