| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 19 July 2019 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 710.9010 hectares of land at 867 Mahanga Road, Mahia, Wairoa (the Land) |
| Consideration | $5,500,000 |
| Applicant | Te Au Limited Hugh Lane-Spollen, Singapore (100.0%) |
| Vendor | Rough Family Trust 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 Te Au Station and is currently used as a sheep and beef farm. The Applicant will subdivide and sell off the dwelling that is not required for forestry activities, and plant approximately 460 hectares as a commercial forest. The remainder of the land includes existing indigenous forest or land unsuitable for planting. The commercial forest is due to be harvested in stages from around the year 2045 and replanted following harvest. |
| More information | Christina Lefever Duncan Cotterill PO Box 5 CHRISTCHURCH 8140 |