| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 19 September 2022 |
| Pathway(s) | Special forestry (One-off purchase) |
| Investment | An overseas investment in sensitive land, being the Applicant’s acquisition of a freehold interest in approximately 835.05 hectares of land located at 624 and 816 Mangamahoe Central Road, Masterton |
| Consideration | $12,600,000 |
| Applicant | Alpha Ally Three Limited Singapore (100%) |
| Vendors | Stewart John MacDonald, Ewen Walter MacDonald and Heather Mary MacDonald 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 predominantly as a sheep and beef farm. The Applicant intends to subdivide and sell approximately 21.67 hectares of land (including dwellings) and convert the majority of the remaining land (approximately 668.47 hectares) into a commercial plantation forest. The Applicant expects planting to begin in 2023. The Applicant will replant after harvesting the first crop of trees. The residual land will be made up of approximately 110.06 hectares of native bush and scrub, 10.69 hectares of unplantable land, 2 hectares of infrastructure and 22.16 hectares of 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 6 (approximately 631 hectares) and LUC 7 (approximately 198 hectares). |
| More information | Catherine Reid Catherine Reid Barrister catherine@catherinereid.co.nz |
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