| Notification | Notification of a transaction under a Standing Consent Section 23A Overseas Investment Act 2005 Schedule 4(3) - Forestry activities – Standing consent transaction |
|---|---|
| Notification number | 10 (of 20) |
| Decision date | 21 November 2023 |
| Pathway(s) | Special forestry (Standing consent) |
| Investment | Acquisition of a freehold interest in approximately 241.1003 hectares of land at 102 Aponga Road, Purua, Whangarei. |
| Asset value | $3,870,000 |
| Applicant | Kauri Forestry LP Switzerland 93% Germany 7% |
| Vendor | Adrian Talbot Broughton, Greig Irving Alexander and RTT AB Limited New Zealand 100% |
| Background | The Consent Holder was granted a standing consent under the special forestry test on 22 March 2021. This permits the Consent Holder to acquire up to 6,000 hectares of land in up to 20 transactions by 30 September 2023. This is the tenth acquisition of land under the standing consent. The Consent Holder intends to convert the farm land into a commercial forest. Approximately 241.1003 hectares will be planted in predominately Pinus Radiata. The Consent Holder is expecting a rotation time of 25-30 years. There are 234.7 hectares of land in LUC Class 6 and 11.1 hectares of land in LUC Class 4. |
| More information | Christina Lefever Lefever Law PO Box 33064 Christchurch 8244 |