| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 07 September 2021 |
| Pathway(s) | Forestry (Special forestry - One-off purchase) |
| Investment | As overseas investment in sensitive land, being the Applicant’s acquisition of approximately 461 hectares of sensitive forestry land located at 1550 Glenora Road, Akitio, Tararua District (the Land). |
| Asset Value | Withheld under s9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Te Au (No 4) Limited Singapore (100%) |
| Vendor | Francis Hamish Armstrong, Pamela Ann Armstrong, Simon Christopher Curran as trustees of the Armstrong Farming Trust New Zealand (100%) |
| Background | The Applicant has been granted consent to acquire the Land under the special test relating to forestry activities set out in section 16A(4) of the Act. The Applicant intends to acquire approximately 299 hectares immediately, with an option to purchase the remainder within three years. The Applicant is part of a group which is an experienced forestry investor in New Zealand. The Applicant intends to acquire the Land as an investment in commercial forestry. The Land is the site of an existing 283 hectare pinus radiata forest which was established in 2011. Once harvested, the Applicant will replant the Land within two years of harvesting. Approximately 172 hectares of the Land is native vegetation which will remain unchanged. The Land does not include residential or farm land, and there are no known historic heritage or wahi tapu sites. The Land includes special land which has been offered to the Crown. |
| More information | Catherine Reid Barrister Email: catherine@catherinereid.co.nz |