| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 6 April 2021 |
| Pathway(s) | Sensitive land – special forestry test |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 160.6386 hectares of land at Burnside Road, Makarau in Auckland (the Land). |
| Consideration | $2,464,000 |
| Applicant | Pointer Investment (NZ) Limited Chinese Public (62.6%) Chinese Government, People's Republic of China (36.7%) Hong Kong Public (0.7%) |
| Vendor | AJN Land Limited Germany (100%) |
| Background | The Applicant was granted consent to acquire the Land under the special test relating to forestry activities that is set out in section 16A(4) of the Act. The Applicant is currently developing its forestry business and operations in New Zealand, with its focus being on acquiring log supply. The Land is currently used for commercial forestry and the Applicant intends to continue its existing use. The Applicant plans to engage a local forestry management company to manage the Land. The forest is in its second rotation. The existing tree crop on the Land is pinus radiata with an age class range of 2001 to 2007 plantings. Approximately 134 hectares of the land is planted in exotic forestry, with the remaining area of the Land being native bush or unplantable (25 ha) and infrastructure such as roading (2 ha). Upon harvest, the Applicant plans to replant the tree crops on the Land. |
| More information | Robert McLean / Greg Mitchell Simpson Grierson Private Bag 92518 AUCKLAND 1141 |