| Notification | Section 23A Overseas Investment Act 2005 Schedule 4(3) - Forestry activities – Standing consent transaction |
|---|---|
| Notification number | 9 (of 20) |
| Date | 4 August 2023 |
| Pathway(s) | Special forestry (Standing consent) |
| Investment | Acquisition of a freehold interest in approximately 373.9295 hectares of land at 9 Clelands Road, Masterton. |
| Asset Value | $6,030,000 |
| Applicant | Kauri Forestry LP Switzerland (93%) Germany (7%) |
| Vendor | Geoffrey Russell Henry Smith, Margaret Helen Smith, and Russell Geoffrey Andrew Smith 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 ninth acquisition of land under the standing consent. The Consent Holder intends to convert the farmland into a commercial forest. Approximately 327 hectares will be planted in predominately Pinus Radiata. The Consent Holder is expecting a rotation time of 25-30yrs post-harvest. There is 269.4 hectares of land in LUC Class 6 and 108.1 hectares of land in LUC Class 7. |
| More information | Christina Lefever Lefever Law PO Box 33064 Christchurch 8244 |