| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 2 June 2020 |
| Pathway | Sensitive land – special forestry test |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 316 hectares of land at 250 Sutherland Road, Manuka Creek, Lawrence. |
| Consideration | $1,775,000 |
| Applicant | Corisol New Zealand Limited Switzerland (100%) |
| Vendor | Micheal John Nicholl, Bernard James Nicholl and Anthony John Perkins as trustees of the MJ Nicholl Farm Trust New Zealand (100%) |
| Background | The Applicant applied for consent under the special test relating to forestry activities set out in section 16A(4) of the Act. The Applicant is a subsidiary of a family-owned Swiss company. The Applicant has previously invested in New Zealand and has undertaken forestry investments here since 2011. The Applicant plans to develop the land into a commercial forest. The Applicant intends to plant approximately 290 hectares of the land in tree crops by winter of 2022. The remaining 26 hectares will be native bush (including scrub), infrastructure (e.g. roading and tracks) and buffer land, or is otherwise unplantable. The Applicant intends for the land to be replanted after harvest as part of normal commercial forestry operations. The investment aligns with the Applicant’s broader plans to create an appropriately scaled forestry business. |
| More information | Ranui Calman Greenwood Roche P O Box 139 Christchurch 8140 |