| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 16 August 2019 |
| Investment | An overseas investment in sensitive land, being the Applicant’s acquisition of a freehold interest in approximately 1,000.1399 hectares of land located at Adams Peak Road, Masterton, currently known as Bushgrove and Glentarn Station. |
| Consideration | $4,214,295 |
| Applicant | DI (FH) Johannes Trauttmansdorff-Weinsberg Austria 100% |
| Vendor | Roger Dickie Developments 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 land to be acquired was previously used as 2 separate sheep and beef farms. The Vendor planted 121.7 hectares the land in Pinus Radiata during 2018 and the remaining plantable area of 548 hectares is currently being planted. The Vendor is also undertaking subdivision of the land which is not required for forestry activities. By the time the Applicant acquires the Land it is anticipated that the land will be fully converted into a commercial forest. The Applicant intends to harvest the trees in 2044. |
| More information | Catherine Reid Barrister Catherine@catherinereid.co.nz |