Applicant
Wairarapa Estate Limited
Case number(s)
201720043
Decision date
Type
Decision

Decision

Consent granted
Section 12(a) Overseas Investment Act 2005

Decision Maker

The Minister for Land Information and the Associate Minister of Finance

Decision Date

30 May 2018

Investment

An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 199.4129 hectares of land at 1,094 Glenross Road, Waiwhare, Hawkes Bay.

Consideration

$3,420,000

Applicant

Wairarapa Estate Limited
The Trust Company (Australia) Limited as trustee for the New Forests Australia New Zealand Forest Operating Fund 2 (100%) which is wholly owned by certain overseas investment funds.  The New Forests Australia New Zealand Forest Operating Fund 2 is managed by New Forests Asset Management Pty Limited.

Vendor

Tenco Limited
New Zealand (78.43%)
Thailand (16.9%)
China (4.67%)

Background

The Applicant is a company created to hold forestry assets. The Applicant intends to acquire the land to harvest the current crop of pine trees between 2020 and 2022 and then replant the land with a new commercial crop of pine trees.

The benefits to New Zealand include:

  • increasing the volume of harvested logs available for domestic processing;
  • environmental protection of indigenous vegetation; and
  • sustainable forestry practices by obtaining Forest Stewardship Council certification for the forest estate.

More information

Alan Paterson
Anderson Lloyd
P O Box 399
Shortland Street
Auckland 1140