| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 4 February 2020 |
| Pathway(s) | Sensitive land – special forestry test |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 302.59 hectares of land at Whakatomotomo Road, Pirinoa. |
| Consideration | $1,400,000 |
| Applicant | Drylandcarbon One Limited Partnership New Zealand Public (59.6938%) Australian Public (14.3639%) United States Public (14.1321%) Various (11.8102%) |
| Vendor | Guy Stuart Didsbury, Andrea Dorothy Didsbury, and Timothy David White as Trustees for the Guy Didsbury Family Trust 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 to be acquired is currently used as a grazing property and finishing operation and 223 hectares are currently being grazed by sheep and cattle. The remainder of the land is made up of 26 hectares of existing radiata pine and 54 hectares existing reverting scrub. The Applicant proposes to plant approximately 214 hectares as a commercial rotation forest. A further 9 hectares will be planted dependant on obtaining resource consent, or if resource consent is not obtained this area will be left to revert to scrub. The Applicant intends to harvest the existing crop of trees and replant following harvest. |
| More information | Susie Kilty Buddle Findlay PO Box 2694 WELLINGTON 6140 |