Section 12(1)(a) Overseas Investment Act 2005
|The Minister for Land Information and the Associate Minister of Finance
|20 September 2023
|Benefit to New Zealand (Benefit to New Zealand - Forestry)
|Acquisition of a freehold interest in approximately 256 ha at 411 Cannock Road,
|NZ Forestry Partnership LP
United Kingdom (100%)
|RH & Y Alloway Trust
New Zealand (100%)
The Applicant is ultimately owned by two United Kingdom citizens (both of whom hold New Zealand permanent resident visas), and this will be their second forestry acquisition in New Zealand.
The Land is currently used predominantly to graze sheep and beef, with around 20% of the Land being existing trees.
The Land is entirely LUC classes 6 (158ha) and 7 (97ha). There is one dwelling on the Land which the Applicant intends to subdivide off along with around 7ha of land.
The Applicant intends to convert the Land to be used nearly exclusively for forestry activities by planting approximately 193ha of pine trees.
The Investment is likely to benefit to New Zealand through increased job opportunities, increased revenue from the land, increased development expenditure, various ecological benefits, advancing significant government policy and potential increased public access.
Consent was granted as Ministers were satisfied that the Applicant has met the investor test criterion and that the Investment is likely to result in benefit to New Zealand.
See the attached Assessment Report linked below, which was published in response to an Official Information Act request:
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