| 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 309.6100 hectares of land at 471 Moore Road, Pipiwai, Whangarei. |
| Consideration | $2,033,000 |
| Applicant | Kauri Forestry LP Switzerland (93%), Germany (7%) |
| Vendor | Trustees of the Kauri 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 Investment relates to 309.61 hectares of a total land area of 375.9 hectares of land, which is in the process of being subdivided by the Vendor. Approximately 249 hectares of land are currently used for farming operations. The Applicant intends to plant 223 hectares and retain 42 hectares of native bush. The balance of 44 hectares contains land not suitable for forestry planting (including ridges, gullies and setbacks, and roading and tracks, and non-productive scrub areas). As part of establishing a crop of trees on the land, some land will be leased to the Vendor to allow grazing on the property in the lead-up to afforestation. The land does not contain residential land, will not be used for residential purposes, and does not contain any special land. |
| More information | Christina Lefever Duncan Cotterill PO Box 5 CHRISTCHURCH 8140 |
-