| Decision | Consent granted |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 21 January 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 415 hectares of land at 454 Ridgemount Road, Tutira, Hawkes Bay. |
| Consideration | $3,460,000 |
| Applicant | Veronika Leeb-Goess-Saurau Austria (100%) |
| Vendor | Michael Satchwell and Carol Joyce Satchwell as trustees of the Kanui Farm Trust |
| 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 intends to acquire approximately 415 hectares of land located in Hawkes Bay (Land), which adjoins Carlsberg Forest (another property owned by the Applicant). The Land is currently a sheep and beef finishing farm with a small flock of sheep that run on the Land. The Applicant intends to convert the Land for forestry purposes, by planting approximately 354.5 hectares of Pinus Radiata. The remaining 60.9 hectares is unplantable. The Applicant expects to harvest the forest in 2047 for sale to domestic and export markets then replant in 2048. Land Use Capability Classification (LUC) is a broad classification system in which land is categorised into eight classes based on a broad assessment of the land’s capability and versatility for different types of agricultural production given its physical limitations. The Land is a combination of LUC Class 7 (approximately 7 hectares) and LUC Class 6 (approximately 396 ha) which are generally suitable for pastoral or forestry uses. In addition, there is also approximately 12 hectares of land classified as LUC Class 4 which is generally suitable for a broader range of land uses such as cropping and horticulture, as well as pastoral or forestry. |
| More information | Catherine Reid Barrister catherine@catherinereid.co.nz |