| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 11 October 2019 |
| Pathway(s) | Sensitive land – special forestry test |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 419.7007 hectares of land at Port Underwood Road. |
| Consideration | $2,900,000 |
| Applicant | New Zealand Forest Industries Limited United Kingdom (100%) |
| Vendor | Zindia Timber Assets 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 Applicant intends to use the land as a commercial forest. The land currently has 178 hectares of forest which the Applicant intends to increase by 22 hectares planting some unproductive areas of land. The remainder of the land contains a 118.6 hectare conservation covenant recorded on the title, approximately 89.6 hectares of non-productive areas and 11.5 hectares of road and skid. The Applicant intends to harvest the existing crop of trees and replant following harvest. |
| More information | Catherine Reid Barrister catherine@catherinereid.co.nz |