|The Minister for Land Information and the Associate Minister of Finance
|21 August 2023
|Sensitive land – Benefit test
|Acquisition of a freehold interest in approximately 600 ha located in the Otago region
|Withheld under s 9(2)(b)(ii) of the Official Information Act 1982
Corisol New Zealand Limited
Withheld under s 9(2)(a) of the Official Information Act 1982New Zealand 100%
The Applicant is a prominent land and forest owner in New Zealand, ultimately owned by a Swiss company.
The Land is currently used predominantly for sheep farming and includes a small area of forestry. The Land is clean rolling hill country which contains approximately 40% LUC 4 land and approximately 60% LUC 6 land.
The Applicant intended to convert the Land to production forestry by planting approximately 473 hectares of radiata pine trees.
The Applicant claimed the Investment would benefit New Zealand through assisting New Zealand in meeting its Nationally Determined Contribution to climate change under the Paris Agreement, increased job opportunities, increased export receipts, advancing significant government policy, increased biodiversity, and increased public access.
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.
See the attached Assessment report linked below, which was published in response to an Official Information Act request:
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