| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 27 June 2012 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 1,209.9771 hectares of land known as Mohau Station located at 1115 Waikura Road, East Coast. |
| Consideration | $3,620,000 |
| Applicant | Monte Forestry Limited Christian Welte, Switzerland (100.0%) |
| Vendor | Kenneth Rae McLanachan New Zealand (100%) |
| Background | The Applicant intends to combine Mohau Station with its adjoining land to create a single productive and financially sustainable farming and forestry operation. Mohau Station includes land with high erosion classification which the Gisborne District Plan requires to be established in effective tree cover. The Applicant will continue pastoral farming on the land that is less prone to erosion and can be sustainably farmed. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors: Overseas Investment Act 2005 Overseas Investment Regulations 2005 |
| More information | Rachel Petterson Blackman Spargo PO Box 6206 ROTORUA |