Overseas investment decision for case 201900513 - Zentral Estate Limited | Toitū Te Whenua

Applicant: Zentral Estate Limited
Case number(s): 201900513
Decision date: 11 Nov 2019
Type: Decision

Decision	Consent granted Section 12(a) Overseas Investment Act 2005
Decision Maker	Toitū Te Whenua Land Information New Zealand
Decision Date	11 November 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 345.7364 hectares of land at 102 Waimiha Road, Benneydale, King Country, known as ‘Tregoweth Forest’.
Consideration	$7,395,450
Applicant	Zentral 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 Forest Operating Fund 3 which is wholly owned by certain overseas investment funds. The New Forests Australia New Zealand Forest Operating Fund 3 is managed by New Forests Asset Management Pty Limited.
Vendor	QIC Strategy Timber No.1 Limited Australia (100.0%)
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 being acquired is already a commercial forest with 240 hectares planted in mixed age tree stock. The remainder of the land contains 70.86 hectares of indigenous vegetation, 6 hectares of road and tracks and 30 hectares of non-productive areas. If used by the Applicant the two dwellings on the Land will be used for temporary and short-term forestry worker accommodation. The Applicant intends to harvest the existing crop of trees and replant following harvest.
More information	Daniel Williams Anderson Lloyd P O Box 399 Shortland Street Auckland 1140

Back to top