| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 11 June 2019 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 373.2000 hectares of land at 139 Clay Creek Road, Ruakokoputuna. |
| Consideration | $1,119,600 |
| 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 Forestry Operating Fund 3 which is wholly owned by certain overseas investment funds. The New Forests Australia New Zealand Forestry Operating Fund 3 is managed by New Forests Asset Management Pty Limited. |
| Vendor | Apiary Land Holdings Limited Peter Thomas Puddick, New Zealand (50%) Robert Stanley Moore Family Trust, New Zealand (50%) |
| Background | The Applicant seeks consent to acquire approximately 373 hectares of land located in the South Wairarapa region to convert to forestry. The Applicant is managed by New Forests Asset Management Pty Limited, an Australian investment fund that specialises in investing in forestry assets. The Investment is expected to result in a substantial and identifiable benefit to New Zealand including the creation of jobs, the introduction of investment for development purpose into New Zealand and the advancement of the One Billion Trees Programme. In addition, the Investment is likely to result in mechanisms to protect and enhance significant areas of indigenous vegetation including the registrations of a conservation covenant and undertaking pest control on the land. |
| More information | Alan Paterson Anderson Lloyd P O Box 399 Shortland Street Auckland 1140 |