| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 24 March 2021 |
| Pathway | Sensitive land- special forestry test |
| Investment | An overseas investment in sensitive land, being the Applicant’s acquisition of a freehold interest in approximately 227.1725 hectares of land at Mt Olympus Forest, SH 63 Wairau Valley, Marlborough. |
| Consideration | $1,521,000 |
| Applicant | Ellis Campbell (NZ) Limited United Kingdom (100%) |
| Vendor | Mount Olympus Forestry Limited New Zealand (100%) |
| Background | The Applicant has applied for consent under the special test relating to forestry activities set out in s 16A (4) of the Act. The Applicant is a subsidiary of a family-owned UK company. It currently holds four other forestry assets and its first forestry investment was made in New Zealand in 1998. The land is currently forestry land but was harvested in 2019/2020 so it is being acquired in a cutover state. 213 hectares of the land will be replanted as a commercial forest, a further 19 hectares will be used for forestry-related infrastructure and 5 hectares will be set aside as buffer land. The land will continue to be used for forestry activities and will be replanted after harvest. |
| More information | Paul Gibson Gascoigne Wicks PO Box 2 BLENHEIM |