| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 31 March 2025 |
| Pathway | Sensitive land – Benefit test |
| Investment | Acquisition of approximately 481 hectares of land located at 304 Middleton Road, Waipukurau, Central Hawke's Bay. |
| Consideration | $5,200,000 |
| Applicant | JD Droxford Limited Singapore 100% |
| Vendors | Donald Cavin Strawbridge, Janeane Claire Strawbridge and Richard James Peter Barrett as trustees of the Droxford Trust. New Zealand 100% |
| Background | The Applicant is a recently incorporated New Zealand company ultimately owned by Mr Jaleel of Singapore. This is the Applicant’s first investment in New Zealand. The land is currently used for sheep and beef grazing. The Applicant will convert approximately 417 hectares of the land into a commercial plantation forest (pinus radiata and redwood) with planting scheduled to commence in winter 2025. The land consists mainly of Land Use Capability (LUC) 6 (87%), with some LUC 3 (62 hectares, 13%). The main benefits to New Zealand are likely to include increased export receipts, increased productivity of the land, additional capital investment, increased jobs as well as climate change benefits. Consent was granted as the Applicant has met the investor test criterion and the investment is likely to benefit New Zealand. |
| More information | Catherine Reid, Barrister catherine@catherinereid.co.nz |