DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision MakerOverseas Investment Office
Decision Date30 August 2019
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 3,948 hectares of land at located in Marlborough (Northbank and Benhopai Forests).
ConsiderationWithheld under s9(2)(b)(ii) of the Official Information Act
ApplicantMarberry Estate Limited
ANZFF3 Limited which is wholly owned by ANZFOF3 NZ Pty Limited which is ultimately owned by The Trust Company (Australia) Limited as trustee for the New Forests Australia New Zealand Forestry Operating Fund 3 which is wholly owned by certain overseas investment funds. The New Forests Australia New Zealand Forestry Operating Fund 3 is managed by New Forests Asset Management Pty Limited.
VendorSCFNZ Limited
Korean Public (97.18%)
Various overseas persons (2.82%)
Background

The Applicant has applied for consent under the special test relating to forestry activities set out in section 16A(4) of the Act.

The Applicant is managed by New Forests Asset Management Pty Limited, an Australian investment fund that specialises in investing in forestry assets.

Approximately three quarters of the land is planted in commercial forestry with the remainder being mostly indigenous vegetation. Upon harvest of the existing commercial crop of trees, the Applicant intends to replant the harvested commercial crop with a new crop of trees. The indigenous vegetation will not be harvested.

More informationDaniel Williams
Anderson Lloyd
P O Box 399
Shortland Street
Auckland 1140