| Notification | Section 23A Overseas Investment Act 2005 Schedule 4(3) - Forestry activities – Standing consent transaction |
|---|---|
| Notification number | 13 (of 20) |
| Decision date | 21 November 2023 |
| Pathway(s) | Special forestry (Standing consent) |
| Investment | Acquisition of a freehold interest in approximately 482.8234 hectares at 398 Bull Road, Kaipara. |
| Asset value | $7,820,000 |
| Applicant | Kauri Forestry LP Switzerland 93% Germany 7% |
| Vendor | Derwent Downs Limited 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 thirteenth acquisition of land under the standing consent. The Consent Holder intends to convert the farmland into a commercial forest. Approximately 410 hectares will be planted in predominately Pinus Radiata. Approximately 30 hectares comprises existing natives and 25 hectares is unplantable. The Consent Holder is expecting a rotation time of 25-30 years. The land is predominantly LUC Class 6. |
| More information | Christina Lefever Lefever Law PO Box 33064 Christchurch 8244 |