| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 2 July 2019 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 216.9 hectares of land located at Kenningtons Road, Marlborough (Kennington Forestry Block). |
| Consideration | $4,200,000 |
| Applicant | Marberry 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 | Kennington Forestry Company Limited New Zealand (100%) |
| Background | The Applicant has applied for consent under the special test relating to forestry activities set out in section 16A(4) of the Act. The Applicant is managed by New Forests Asset Management Pty Limited, an Australian investment fund that specialises in investing in forestry assets. Almost all (approximately 194 hectares) of the land is planted in mature commercial forestry. Upon harvest of the existing commercial crop of trees, the Applicant intends to replant the harvested commercial crop with a new crop of trees. |
| More information | Alan Paterson Anderson Lloyd P O Box 399 Shortland Street Auckland 1140 |
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