| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Overseas Investment Office |
| Decision date | 13 September 2022 |
| Pathway(s) | Special forestry (One-off purchase) National Interest assessment |
| Investment | An overseas investment in sensitive land, being the Applicant’s acquisition of a freehold interest in approximately 854.9074 hectares of land located at 1543 Annedale Road, Tinui, Wairarapa. |
| Consideration | $11,000,000 |
| Applicant | Lime Timber New Zealand Limited (Singapore 99%, United States of America 1%) |
| Vendors | Annedale Partnership (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 used by the Vendor for sheep and beef farming, with areas of production forestry woodlots (approximately 106 hectares). Following settlement, the Applicant intends to subdivide and sell approximately 22 hectares of the land (including all dwellings and various farm buildings) back to the Vendor. The Applicant will convert the majority of the remaining land (approximately 615 hectares) into a commercial plantation forest. The Applicant intends to harvest the crop of trees once matured and replant following harvest. The remaining land will be made up of approximately 42 hectares of native bush and scrub and 70 hectares of unplantable land, infrastructure and buffer land which will include riparian and boundary setbacks. By way of background, the land that is the subject of this application is Land Use Capability (“LUC”) classifications: LUC 3 (3 hectares), LUC 6 (228 hectares) and LUC 7 (623 hectares). The Minister of Finance has determined that the Investment is not contrary to New Zealand’s national interest. |
| More information | Sherryn Harford Mayne Wetherell PO Box 3797 Shortland Street Auckland |
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