Applicant
The New Zealand Redwood Company
Case number(s)
201610014
Decision date
Type
Decision

Decision

Consent granted
Section 12(a) Overseas Investment Act 2005

Decision Maker

The Minister for Land Information and the Associate Minister of Finance

Decision Date

6 July 2018

Investment

An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 1,147.6139 hectares of land at 1190 Ohura Road, Matiere.

Consideration

$7,000,000

Applicant

The New Zealand Redwood Company
Family share-holders representing the decedents of the founder Soper and Wheeler families, United States of America (100%)

Vendor

Graham Francis Robertson, Elizabeth Constance Walton Robertson and Bailey Ingham Trustees Limited, as trustees of the Tarata No2 Trust
New Zealand (100%)

Background

The Applicant is an American owned forestry company specialising in the cultivation of redwood trees. The property is currently farm land which the Applicant intends to convert into a redwoods forest.

The conversion of the property to redwood forestry is likely to:

  • Increase jobs by approximately six full time equivalent employees per annum on average over the life of the forest;
  • Increase the export receipts and the processing of primary products in New Zealand through exporting the majority of the redwoods products to North America in a processed form;
  • provision enduring walking access across the land; and
  • Advancing the one billion trees policy through planting approximately 650 hectares of trees.

More information

Scott Whitaker
Duncan Cotterill
PO Box 5
CHRISTCHURCH 8140