| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 3 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 80.9650 hectares of land at Ormond Valley Road, Ormond, Gisborne. |
| Consideration | $2,900,000 |
| Applicant | Greenheart Papakorakora Forest NZ Limited Hong Kong (100%) |
| Vendor | First Forestry 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 land being acquired is already a commercial forest known as the ‘Ormond Valley Forest’. The land use is 73.4 hectares of forestry and 7.565 hectares of unproductive land containing setbacks. The Applicant intends to continue to operate the land as a commercial forest, and replant the crop of trees following harvest. |
| More information | Catherine Reid Barrister catherine@catherinereid.co.nz |