Applicant
Norsewood Estate Limited
Case number(s)
201900450
Decision date
Type
Decision
Decision  Consent granted
Section 12(a) Overseas Investment Act 2005
Decision Maker Toitū Te Whenua Land Information New Zealand
Decision Date 11 November 2019
Pathway(s) Sensitive land – special forestry test
Investment An overseas investment in sensitive land, being the Applicant's acquisition of a forestry right for approximately 198.26 hectares of land at 195D Whitemans Valley Road, Whitemans Valley (known as the ‘Mangaroa Forest’).
Consideration $3,730,000
Applicant

Norsewood 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 Integrated AG 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 Investment generally relates to 422.80 hectares of land but provides the Applicant with cutting rights over a total of approximately 198.26 hectares of land which is the productive stocked area of the land. The existing tree stock is mixed age pinus radiata.

The Applicant intends to harvest the existing crop of trees. After the land is harvested it will be handed back to the Vendor, the cutting right does not allow the Applicant to replant the harvested crops of trees.
More information Daniel Williams
Anderson Lloyd
P O Box 399
Shortland Street
Auckland 1140