Decision
| Consent granted |
|---|---|
Decision Maker | The Minister for Land Information and the Associate Minister of Finance |
Decision Date | 19 July 2018 |
Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 1,241 hectares of land near Whanganui (Land). |
Consideration | $13,000,000 |
Applicant | Summit Forests New Zealand Limited |
Vendor | Whanganui District Council |
Background | Summit Forests New Zealand Limited (Summit) operates an extensive forestry estate in New Zealand, mostly in Northland. Having built up a forestry portfolio in Northland, the Applicant now wishes to establish a forestry portfolio in the Whanganui region. The Investment is expected to result in a substantial and identifiable benefit to New Zealand. The Investment is likely to advance the Government's strategy to plant one billion trees between 2018 and 2027. The Investment will also result in the offer of approximately 148 hectares of land to a local iwi for nil consideration (once Summit has identified the appropriate iwi to receive the offer). Summit has committed to obtain FSC or PEFC certification in respect of the forests on the Land and to grant protective covenants in respect of significant areas of indigenous vegetation. The Investment will also result in Summit allowing public access to the Land for hunters, walkers and mountain-bikers who have been issued with a permit. In addition, permit-free access will generally be provided on Sundays and public holidays. |
More information | Henare Walker |