| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 20 June 2022 |
| Pathway(s) | Special forestry (One-off purchase) |
| Investment | Acquisition of a freehold interest in approximately 80 hectares of sensitive land contained in a proposed subdivision of 1337 Kawautahi Road, Ōwhango, Ruapehu District (the Land). |
| Asset Value | Withheld under section 9(2)(b)(ii) of the Official Information Act 1982. |
| Applicant | Drylandcarbon One Limited Partnership At the time of the application in April 2022: New Zealand: 64.9% Australia: 11% North America: 8.9% United Kingdom: 7.1% Various: 8.1% |
| Vendor | Trustees of the Opango Trust New Zealand: 100% |
| Background |
The Applicant has been granted consent to acquire the Land under the special test relating to forestry activities set out in section 16A(4) of the Act. The Applicant is a limited partnership established as an investment entity for the purposes of developing a large and geographically diverse forestry portfolio. The Vendors of the Land operate a beef and sheep farm over the land surrounding the proposed subdivision. The Vendors identified the Land as suitable for subdivision and sale due to its unsuitability for farming. Approximately 63 hectares of the Land is planted in Pinus radiata. The remaining 17 hectares comprises unplantable land. The trees will be harvested in accordance with the Applicant’s optimal rotation. The Land is all classified as LUC 6 (80 hectares). |
| More information | Susie Kilty Buddle Findlay (Wellington) PO Box 2964 Wellington 6140 |