| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Overseas Investment Office |
| Decision date | 12 August 2022 |
| Pathway(s) | Special forestry (One-off purchase) |
| Investment | Acquisition of approximately 137 ha of freehold interest in land located at Opouteke Road, Pakotai, Whangarei (the Land). |
| Consideration | $476,000 |
| Applicant | Greenheart Mangakahia Forest Land Limited Hong Kong 100% |
| Vendor | RW & BJ Alison Limited New Zealand 100% |
| Background | The Applicant has been granted consent to acquire the Land under the special test relating forestry activities set out in section 16A(4) of the Act. The Applicant is a New Zealand incorporated company established in 2009 whose activities involve forestry management, silviculture, harvesting and sale of logs. The Land currently has breeding cows being grazed. The Applicant intends to convert the Land to forestry, establishing and maintaining plantation forest (predominantly Pinus Radiata). The Applicant has estimated new planting of approximately 70 hectares after allowing for unplantable areas of approximately 66 hectares. By way of background, the Land Use Class (LUC) details for the Land are:
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| More information | Catherine Reid Barrister catherine@catherinereid.co.nz |
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