| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 22 July 2021 |
| Pathway(s) | Forestry (Special forestry - One-off purchase) |
| Investment | An overseas investment in sensitive land, being the Applicant’s acquisition of a freehold interest in 982.4350 hectares at 1092 Moerangi Road, Oparau, Waikato |
| Consideration | $9,000,000 |
| Applicant | Port Blakely Limited United States of America (100%) |
| Vendors | Shabor Limited New Zealand (100%) |
| Background | The Applicant has applied for consent under the special test relating to forestry activities set out in section 16A(4) of the Act. The Applicant is a US owned forestry management company. Since the Applicant’s first forestry acquisition in New Zealand in 1994 it has acquired additional forest and land through more than 20 separate OIO consents. The land to be acquired is currently used for farming purposes, with deer, sheep and cattle kept on the land. The Applicant intends to plant approximately 752.74 hectares of the Land as a commercial forest. The Applicant intends to harvest the crop of trees once matured and replant following harvest. There are two houses on the land which the Applicant intends to subdivide and sell. The balance of the land will comprise of 170.93 hectares of native bush (including scrub), 26.38 hectares of unplantable land, 23.27 hectares of buffer land and 4.56 hectares of infrastructure. The land contains special land which has been offered to the Crown. By way of background, the land that is the subject of this application is Land Use Capability (LUC) classifications: LUC 3 (3 ha), LUC 4 (188 ha), LUC 6 (778 ha), and LUC 7 (20 ha). |
| More information | Hugh Lindo Simpson Grierson PO Box 874 Christchurch 8140 |