| Decision | Consent Declined Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | The Minister for Land Information and the Associate Minister of Finance |
| Decision date | 05 October 2023 |
| Pathway(s) | Sensitive Land – Benefit test |
| Investment | Acquisition of freehold interest in approximately 700ha of land in Otago (the Land). |
| Consideration | $9,000,000 |
| Applicant | NZ Forestry Partnership LP United Kingdom 100% |
| Vendors | Withheld under section 9(2)(a) of the Official Information Act 1982 New Zealand 100% |
| Background | The Applicant is a recent new investor in New Zealand, ultimately owned by a United Kingdom family. The Land is currently operated primarily as a deer farm (with a small number of cattle, and a significant existing forestry plantation of 146 hectares) . The Land consists of approximately 250 hectares of LUC3 and 450 hectares of LUC 6. The Applicant intended to convert the Land to production forestry by planting approximately 524 hectares of radiata pine trees. The Applicant claimed the Investment would benefit New Zealand through increased job opportunities, increased revenue, increased domestic processing and exports, advancing significant government policy, increased biodiversity, and increased public access (including new mountain bike access). Consent was declined as Ministers were ultimately not satisfied that the likely benefit was proportionate to the sensitivity of the Land and the nature of the overseas investment. |
| More information | Sam Nelson Lane Neave Queenstown |
See the attached Assessment report linked below, which was published in response to an Official Information Act request: