SUN&L New Zealand Limited
Case number(s)
Decision date
DecisionConsent granted
Section 12(1)(a) Overseas Investment Act 2005
Decision makerThe Minister for Land Information and the Associate Minister of Finance
Decision date12 February 2024
Pathway(s)Sensitive Land - Benefit Test
InvestmentAcquisition of freehold interest in approximately 321.7979 hectares of land at 1110 Mangaehu Road, Makahu, Stratford, 4392 in Taranaki, (known as ‘Makahu Farm’)
ApplicantSUN&L New Zealand Limited 
South Korea 100%
VendorNicholas Kane Irwin and Rebecca Ann Connell 
New Zealand 100%

The Applicant is ultimately owned by a South Korean listed company.

The Applicant is acquiring a sheep and beef farm to convert about 270 hectares into Pinus radiata commercial forest, and up to 28 hectares of tōtara. The Land is LUC 4 (15%), LUC 6 (65%), and LUC 7 (20%). 

The key benefits likely to occur because of the investment include the creation and retention of jobs, a commitment to selling 40% of logs to domestic suppliers, increased revenue from timber sales, capital and development expenditure, and environmental benefit (including protecting native bush, planting of up to 28 hectares of tōtara, and weed and pest control).

Consent was granted to this Investment as the Applicant met the investor test criterion and the Investment is likely to result in benefit to New Zealand.

More informationPavanie Edirisuriya
DLA Piper New Zealand
PO Box 160