| Notification | Section 23A Overseas Investment Act 2005 Schedule 4(3) - Forestry activities – Standing consent transaction |
|---|---|
| Notification number | 14 (of 20) |
| Decision date | 21 November 2023 |
| Pathway(s) | Special forestry (Standing consent) |
| Investment | Acquisition of a freehold interest in approximately 472.0100 hectares at 1637 Ruakituri Road, Ruakituri, Wairoa, Hawkes Bay. |
| Asset value | $5,650,000 |
| Applicant | Kauri Forestry LP Switzerland 93% Germany 7% |
| Vendor | Peter John McCarthy and Vickie Marie McCarthy 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 fourteenth acquisition of land under the standing consent. The Consent Holder intends to convert the farmland into a commercial forest. Approximately 330 hectares will be planted in predominately Pinus Radiata. Approximately 90 hectares of the land comprises existing bush/reversion and approximately 20 hectares is unplantable. The Consent Holder is expecting a rotation time of 25-30 years. The land is predominantly LUC Class 7. |
| More information | Christina Lefever Lefever Law PO Box 33064 Christchurch 8244 |