Decision

Consent granted

Section 12(a) Overseas Investment Act 2005
Decision MakerOverseas Investment Office
Decision Date20 March 2020
Pathway(s)Sensitive land – special forestry test
Investment

An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 478.0605 hectares of land at 344 Aropaoanui Road, Tangoio, Napier.

Consideration$5,250,000
Applicant

Wolfgang Leitner

Austria (100%)
Vendor

Frances Mary Tucker, Stephen Peter Lunn and Glenview Settlement Trustee Company Limited (as Trustees of the Glenview Settlement Trust)

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 currently part of ‘Glenview’ farm and 441.98 hectares are currently being grazed by sheep and beef stock.

Following settlement, the Applicant will plant approximately 386.4 hectares as a commercial forest.

The remainder of the land includes 15.2 hectares of existing native bush and unplantable land containing boundary and riparian setbacks and ponds.

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

Catherine Reid

Barrister

catherine@catherinereid.co.nz