DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision MakerOverseas Investment Office
Decision Date16 August 2019
InvestmentAn overseas investment in sensitive land, being the Applicant’s acquisition of a freehold interest in approximately 1,000.1399 hectares of land located at Adams Peak Road, Masterton, currently known as Bushgrove and Glentarn Station.
Consideration$4,214,295
ApplicantDI (FH) Johannes Trauttmansdorff-Weinsberg
Austria 100%
VendorRoger Dickie Developments Limited
New Zealand 100%
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 land to be acquired was previously used as 2 separate sheep and beef farms. The Vendor planted 121.7 hectares the land in Pinus Radiata during 2018 and the remaining plantable area of 548 hectares is currently being planted. The Vendor is also undertaking subdivision of the land which is not required for forestry activities.

By the time the Applicant acquires the Land it is anticipated that the land will be fully converted into a commercial forest. The Applicant intends to harvest the trees in 2044.

More informationCatherine Reid
Barrister
Catherine@catherinereid.co.nz