Applicant
Ingka Investments Forest Assets NZ Limited and Ingka Investments Management NZ Limited
Case number(s)
202200624
Decision date
Type
Decision
Decision

Consent approved 
Section 12(1)(a) Overseas Investment Act 2005

Decision maker Toitū Te Whenua Land Information New Zealand
Decision date 24 March 2023
Pathway(s) Special forestry (One-off purchase)
Investment An overseas investment in sensitive land, being the Applicant's acquisition of 6 Tinui Valley Road, Tinui Valley, Masterton, Wairarapa (the Land).
Consideration $2,800,000
Applicant

Ingka Investments Forest Assets NZ Limited and Ingka Investments Management NZ Limited 
Netherlands (100%)

Vendor Tunakino Forestry Limited 
New Zealand (100%)
Background

The Applicants were granted consent under the special test relating to forestry activities set out in section 16A(4) of the Act.

The Applicants are two New Zealand incorporated companies who will acquire the Land, and hold a forestry right over the Land, respectively. The Applicants are owned by Ingka Investments B.V., the investment arm of Ingka Group, which is the largest franchisee of IKEA stores internationally.

The Land is currently used for forestry and silvicultural purposes. The Land contains approximately 379.7 hectares of existing forestry. This is a second rotation forest and was established between 2012 and 2015.

The Applicants plan to continue operating a commercial plantation forest on the parts of the Land suitable for planting. Once harvesting has been completed, the Applicants intend to replant approximately 379.7 hectares (more or less) of the plantable area in Pinus radiata or similar species.

More information

Pavanie Edirisuriya 
DLA Piper New Zealand 
PO Box 160  
Auckland