| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 16 October 2019 |
| Pathway(s) | Sensitive land – special forestry test |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 488.5360 hectares of land at 481 Moore Road, Pipiwai. |
| Consideration | $3,485,000 |
| Applicant | Kauri Forestry LP Switzerland (93%) Germany (7%) |
| Vendor | Alexander James Moore, Sharyn Kaye Moore and YHPJ Trustees (2018) Limited (as trustees of the Wairere Trust) 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 is currently used as follows: approximately 285 hectares are used as a farming operation, there is an existing forest on 154 hectares, and the remaining 47 hectares are non-productive native bush (including riparian planting). Kauri intends to plant 235 hectares in pinus radiata and retain the existing forestry and native bush areas. Approximately 50 hectares have characteristics that are not suitable for planting (including steep ridges, gullies, roading and tracks, and non-productive scrub areas). The Land contains a dwelling, 7 farm buildings (workshops and sheds), and a shearer’s quarters. Kauri does not intend to use any of these buildings for any residential purposes and may choose to dismantle structures or subdivide off relevant land portions in the future. The Overseas Investment Office was satisfied the Investment met the requirements of the special forestry test. |
| More information | Christina Lefever Duncan Cotterill PO Box 5 CHRISTCHURCH 8140 |