| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 17 May 2019 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 1037.0442 hectares of land at 2489 State Highway 2, Wairoa (the Land).1 |
| Consideration | $6,000,000 |
| Applicant | Te Au Limited Hugh Lane-Spollen, Singapore (100.0%) |
| Vendor | Alec Robert Ernest Haynes and Jill Diane Haynes New Zealand (100%) |
| Background | The Applicant has applied for consent under the special forestry test relating to forestry activities set out in section 16A(4) of the Act. The Land being acquired is known as Waihua Station and is currently used as a sheep and beef farm. The Applicant will subdivide and sell the areas that are not required for forestry activities, and plant approximately 500 hectares as a commercial forest. The Land is due to be harvested around the year 2045 and replanted following harvest. |
| More information | Christina Lefever Duncan Cotterill PO Box 5 CHRISTCHURCH 8140 |
1Note that the acquisition includes two titles that are subject to the Māori Land Court confirming alienation (approximately 114 hectares).