| Decision | Consent Granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 22 November 2024 |
| Pathway | Sensitive land – special forestry (one-off) |
| Investment | Acquisition of approximately 523 hectares of freehold land at Maraenui Road, Northern Hawkes Bay (River Rock Forest) |
| Consideration | $4,500,000 |
| Applicant | Nuhaka River Rock Ltd Switzerland 100% |
| Vendor | William Menzies Buddo New Zealand 100% |
| Background | The Applicant is a newly incorporated New Zealand company wholly owned by Supernova AG (Supernova), a Swiss based corporation which owns real estate and consulting companies in Switzerland. Supernova, through its subsidiaries, has a number of investments in New Zealand including forestry. The Applicant is acquiring approximately 523 hectares of freehold land for commercial rotational forestry purposes. The total productive forest area is approximately 402 hectares (of which approximately 273 hectares is held under a forestry right), which is already used for forestry (predominantly pinus radiata). The Applicant intends to harvest the crop of trees once matured, and replant following harvest. Consent was granted as the Applicant has met the investor test criterion and the special forestry test criteria. |
| More information | Oliver Thomas Roth Alltree AG 5000 Aarau Switzerland |
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