| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Toitū Te Whenua LINZ |
| Decision Date | 22 July 2022 |
| Pathway(s) | Special forestry (One-off purchase) |
| Investment | An overseas investment in sensitive land, being the Applicant’s acquisition of a freehold interest in approximately 332.9106 hectares of land located at 1020 Mangleton Road, Kereru, Hastings. |
| Asset Value | $5,222,000 |
| Applicant | Greendom Limited Italy (90%), Switzerland (10%) |
| Vendor | Charles Mark Nelson, James Mark Nelson and Judith Ann Nelson as trustees of the Little Falls 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 predominately used for sheep and beef farming. The Applicant will convert the majority of the land (approximately 266.4 hectares) into a commercial plantation forest. The Applicant intends to harvest the crop of trees once matured and replant following harvest. The remaining land will be made up of approximately 4.9 hectares of existing forestry, 44 hectares of native bush and scrub and 17.61 hectares of unplantable land, infrastructure and buffer land which will include riparian and boundary setbacks. By way of background, the land that is the subject of this application is Land Use Capability (“LUC”) classifications: LUC 6 (251 hectares), LUC 7 (43 hectares) and LUC 8 (39 hectares). |
| More information | Catherine Reid Barrister catherine@catherinereid.co.nz(link sends e-mail) |