| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 25 July 2019 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 4,273 hectares of land at 134 Lagoon Hill Road, Tuturumuri, South Wairarapa. |
| Consideration | $33,200,000 |
| Applicant | Kauri Forestry LP Switzerland (93%) Germany, (7%) |
| Vendor | Stonehaven Trustee Limited as trustee of the Stonehaven 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 in use as a dry stock farming operation, as well as 1,341 hectares of existing forest. The Applicant will investigate a subdivision and sale of approximately 594 hectares of farm land, including all or most of the six dwellings on the land. It will plant and maintain a commercial forest predominately of radiata pine on approximately 2,646 hectares of the remaining land (including the existing forest). The majority of the new forest will be planted in the winter planting seasons of 2020 and 2021, although some planting may occur in 2019. The expected rotation time for trees is between 25 to 30 years. |
| More information | Christina Lefever Duncan Cotterill PO Box 5 CHRISTCHURCH 8140 |