Decision

Consent Granted

Section 12(a) Overseas Investment Act 2005
Decision Date2 August 2017
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 83.1114 hectares of land at 158 Kowhatu Road, RD7, Waimate.
Consideration$185,000
Applicant

Port Blakely Limited as trustee of the South Blakely Trust
Eddy Family, United States of America (100%)

Vendor

Peter Wilson McRae
New Zealand (100%)

Background

The Applicant is an existing forestry owner in New Zealand.

The land is currently predominantly populated with weeds and wilding pine with the balance of the land used for sheep and deer grazing. The Applicant will plant a commercial forest on the land and operate it in conjunction with its commercial forest on the neighbouring land.

The benefits to New Zealand include:

  • enabling the more efficient planting, managing, and harvesting of a forest on the land through the use of the Applicant’s infrastructure on the adjoining land;
  • enhancing the viability of the Applicant’s neighbouring forestry operation;
  • managing the forest in line with Forestry Stewardship Council certification;
  • extending existing public walking access arrangements to this land; and
  • ensuring appropriate protection of an historic site on the land. 
More information

Shahin Foroughian
Simpson Grierson
Private Bag 92518
AUCKLAND 1141