| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 17 November 2020 |
| Pathway(s) | Forestry (Special forestry - One-off purchase) National interest assessment |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 663.9673 hectares of land at Waihopai Valley Road, Waihopai, Marlborough. |
| Consideration | $4,000,000 |
| Applicant | Marberry Estate Limited ANZFF3 Limited which is wholly owned by ANZFOF3 NZ Pty Limited which is ultimately owned by The Trust Company (Australia) Limited as trustee for the New Forests Australia New Zealand Forest Operating Fund 3 which is wholly owned by certain overseas investment funds. The New Forests Australia New Zealand Forest Operating Fund 3 is managed by New Forests Asset Management Pty Limited. |
| Vendor | Susan Jill Cambridge, and Simon James Dorman and Susan Jill Cambridge (as trustees of the Michael John Cambridge Children's Trust) jointly as Partners of the Cambridge Family Partnership 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 land being acquired is already a commercial forest known as the ‘Cambridge Forest’. The land use is 581 hectares of forestry, 71 hectares of native vegetation and 2 hectares of unproductive land containing roads and tracks. The Applicant intends to continue to operate the land as a commercial forest, and replant the crop of trees following harvest. The Minister of Finance has determined that the Investment is not contrary to New Zealand’s national interest. |
| More information | Daniel Williams Anderson Lloyd (Auckland) PO Box 399 Shortland Street Auckland 1140 |
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