Decision

Consent granted
Section 12(a) Overseas Investment Act 2005

Decision MakerOverseas Investment Office
Decision Date28 January 2020
Pathway(s)Sensitive land – special forestry test
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 799.7062 hectares of land at Ponui Station, 217 Ponui Road, Kotemaori, Wairoa.
Consideration$8,000,000
Applicant

Wolfgang Leitner
Austria (100%)

Vendor

Ponui Station 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 Ponui Station and 713.8 hectares are currently being grazed by sheep and beef stock.

There is currently 14 hectares of existing commercial forestry on the land. The Applicant will plant a further 640 hectares as a commercial forest.

The remainder of the land includes 32.6 hectares of native bush and 113.1 hectares of unplantable land containing boundary and riparian setbacks, ponds and infrastructure.

The Applicant intends to harvest the existing crop of trees and replant following harvest.
More information

Catherine Reid
Barrister
catherine@catherinereid.co.nz