| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 21 October 2024 |
| Pathway | Sensitive land – Special forestry test (one off) |
| Investment | Acquisition of a freehold interest in approximately 428 hectares of land at 166 Airstrip Road, Pikowai, Bay of Plenty |
| Consideration | $8,580,000 |
| Applicant | Enterprise Investments WRI Limited United Kingdom 100% |
| Vendor | Awatea Forest Fund Trustees Limited New Zealand 75% Monaco 7% Germany 6% Various 12% |
| Background | The Applicant is ultimately owned by a United Kingdom citizen, and this is the fourth forestry acquisition it has made in New Zealand, since 2022. The land is currently used for forestry purposes. The total productive area of the land is approximately 365 hectares planted with pinus radiata. The Applicant plans to continue using the land for forestry purposes. Consent was granted as the Applicant has met the investor test criterion and the special forestry test criterion. |
| More information | Amanda Spratt MinterEllisonRuddWatts (Auckland) |