| Decision |
Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | The Minister for Land Information and the Associate Minister of Finance |
| Decision Date | 14 December 2022 |
| Pathway(s) | Special forestry (One-off purchase) |
| Investment | Acquisition of approximately 827.9566 hectares of farm land located at 9 Prentice Road, Rimu Road, 158 Ohura North Road and 106 Waikaka Road, Ohura, Ruapehu District |
| Consideration | $14,025,000 |
| Applicant |
Johannes Trauttmansdorff-Weinsberg Austria (100%) |
| Vendors |
Roseanne Ellen Louisa Parkes, Evan Lewis Parkes and Bailey Ingham Trustees Limited (as trustees of the REL & EL Parkes Family Trust) New Zealand (100%) Roseanne Ellen Louisa Parkes, Evan Lewis Parkes and Bailey Ingham Trustees Limited (as trustees of the RD Parkes Trust) New Zealand (100%) Roseanne Ellen Louisa Parkes, Evan Lewis Parkes and Ross Desmond Parkes (as partners of the EL & REL & RD Parkes Partnership) New Zealand (100%) |
| Background |
The Applicant applied for consent under the special test relating to forestry activities set out in section 16A(4) of the Act. The Applicant is an experienced forestry investor in New Zealand and intends to acquire the Land as an investment in commercial forestry. The Land is currently used as a sheep and beef farm. The Applicant plans to establish and maintain approximately 579.8 hectares of commercial plantation forest consisting of Pinus radiata and Redwoods. Planting is planned to begin in 2023. Approximately 169.6 hectares of land (including three dwellings) will be subdivided and sold. The residual land includes 25 hectares of native bush and scrub. The Land is a combination of the following Land Use Capability classifications – LUC 3 (approximately 103 hectares), LUC 4 (approximately 115 hectares), LUC 6 (approximately 506 hectares) and LUC 7 (approximately 104 hectares). The Ministers granted consent in this case as they considered the Applicant to have met the criteria for the investor test and the special forestry test. |
| More information |
Catherine Reid Catherine Reid Barrister catherine@catherinereid.co.nz |