| Decision | Consent granted |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 16 April 2025 |
| Pathway | Benefit to New Zealand - Farm to Forestry conversion |
| Investment | Acquisition of a freehold interest in approximately 1,282 hectares of land located at 75 Saltwater Lane, Wairau Valley, Marlborough |
| Consideration | Withheld under section 9(2)(b)(ii) of the Official Information Act 1982 |
| Applicants | Ingka Investments Forest Assets NZ Limited and Ingka Investments Management NZ Limited |
| Vendor | Saltwater Station Limited |
| Background | The Applicants are two New Zealand incorporated companies which will acquire the land, and hold a forestry right over the land, respectively. The Applicants are owned by Ingka Investments B.V., the investment arm of Ingka Group, which is the largest franchisee of IKEA stores internationally. Approximately 1,246 hectares of the land is currently used as a sheep and beef grazing farm. The Applicants will convert approximately 1,136 hectares of the land into a commercial plantation forest (predominantly pinus radiata) with planting scheduled to start in winter 2025. The property consists of mainly Land Use Capability (LUC) class 3 (6 ha), class 4 (6 ha), class 6 (1,230 ha), class 7 (39 ha) and class 8 (1 ha). The main benefits to New Zealand were assessed as being increased expenditure, revenue and export receipts. Other benefits are likely to include increased jobs, domestic processing and climate change benefits. Consent was granted as the Applicants have met the investor test criterion and the investment is likely to benefit New Zealand. |
| More information | Pavanie Edirisuriya |