DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision MakerOverseas Investment Office
Decision Date20 September 2019
Pathway(s)Sensitive land – special forestry test
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 489.7157 hectares of land at 633 Waimaha Road, Tahunga, Gisborne.
Consideration$4,565,000
ApplicantWolfgang Leitner
Austria 100%
VendorChristene Anne Waddell and Ngapuke Stn Trustee Co 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 is known as at Ngapuke Station and 453.5 hectares are currently being grazed by sheep and beef stock.

The Applicant will subdivide and sell approximately 9 hectares which contains one residential dwelling which is not required for forestry activities.

The Applicant will plant approximately 390 hectares as a commercial forest. The remainder of the land includes existing vegetation (native trees) or land unsuitable for planting.

The commercial forest is due to be harvested around the year 2045 and replanted following harvest. 

More informationCatherine Reid
Barrister
catherine@catherinereid.co.nz