Port Blakely Limited
Case number(s)
Decision date

Consent declined
Section 12(1)(a) Overseas Investment Act 2005

Decision maker The Minister for Land Information and the Associate Minister of Finance
Decision date 20 August 2023
Pathway(s) Sensitive land – Benefit test
Investment Acquisition of a freehold interest in approximately 800 hectares of land located in the Otago region
Consideration Withheld under section 9(2)(b)(ii) of the Official Information Act 1982

Port Blakely Limited 
United States of America 100%

Vendor Withheld under section 9(2)(a) of the Official Information Act 1982
New Zealand 100%

The Applicant is ultimately owned by the Eddy family.  The Applicant has approximately 30 years’ experience investing in New Zealand production forestry.

The land has rolling terrain and is currently operated as a sheep and beef farm, with a small area of forestry (approx. 40 hectares). 

The land is a mixture of LUC 3 (approx. 60% of the land) and LUC 6 (approx. 40% of the land). 

The Applicant intended to convert the land to production forestry by planting approx. 650 hectares of new Pinus radiata (together with the existing forestry takes the total to approx. 690 hectares). 

The Applicant claimed that the Investment would benefit New Zealand economically through increased job opportunities and increased revenue off the Land, including the provision of 50% of the new timber for domestic processing. 

The Applicant also claimed that the Investment would provide various environmental, public access, and advancement of significant government policy benefits.

Consent was declined as Ministers were ultimately not satisfied that the likely benefit was proportionate to the sensitivity of the land and the nature of the overseas investment.

More information

Catherine Reid, Barrister

See the attached Assessment report linked below, which was published in response to an Official Information Act request:

Overseas Investment assessment reports involving applications relating to farmland to forestry conversion

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