Applicant
Kauri Forestry LP
Case number(s)
201810211/3
Decision date
Type
Notification
Notification Section 23A Overseas Investment Act 2005
Notification number 3 (of 20)
Decision Date 29 September 2022
Pathway(s) Special forestry (Standing consent)
Investment An overseas investment in sensitive land, being the Consent Holder’s acquisition of a freehold interest in approximately 388.74601 hectares of land at 1750 Kanakanaia Road, Te Karaka, Gisborne
Asset Value $6,000,000
Applicant

Kauri Forestry LP
Switzerland (93.00%)
Germany (7.00%)

Vendor Daniel Noel Hood, Carolyn Sue Hood & Thomas Clifford Hood
New Zealand (100%)
Background

The Consent Holder was granted a standing consent under the special forestry test on 22 March 2021. This permits the Consent Holder to acquire up to 6,000 hectares of land in up to 20 transactions by 30 September 2023. 

This is the third acquisition of land under the standing consent. 

The land was primarily used by the Vendor for sheep and beef farm, along with some pockets of existing forestry. 

The Applicant intends to plant approximately 322 hectares of the land as a commercial forest. 

Approximately 14 hectares of the land containing one dwelling will be subdivided from the land and sold to a third party. 

The remaining 52 hectares of land will be made up of unplantable land, native bush and buffer land which will include riparian and boundary setbacks.

By way of background, the Land Use Capability classifications is classed as predominately LUC Class 7 - 357 hectares.  With Class 6 - 20 hectares, Class 8 - 11 hectares and Classes 1-5 - 1 hectare.

We are satisfied that the notified transaction falls within the scope of the standing consent.

More information Christina Lefever
Lefever Law 
PO Box 33064
Christchurch 8244