| Decision |
Consent granted |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 4 September 2023 |
| Pathway(s) | Sensitive Land - Special forestry (one off) |
| Investment | Acquisition of freehold interest in approximately 279 hectares of land located at Matau Forest Matau & Mangaoapa Roads, Kiore, Stratford District, Taranaki. |
| Consideration | $4,063,100 |
| Applicant |
Ingka Investments Forest Assets NZ Limited and Ingka Investments Management NZ Limited |
| Vendor | Matau Forestry Partnership New Zealand (100%) |
| Background |
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 comprises existing forestry of approximately 167 hectares which is managed as a commercial rotational forest. Harvesting of the first rotation is likely to occur in 2024 and will be replanted. The remainder of the Land will be unplanted due to native bush and infrastructure. Consent was granted as the Applicants met the investor test criterion and the special forestry test criteria. |
| More information |
Pavanie Edirisuriya |