Applicant
Kakariki Joint Venture
Case number(s)
202100351
Decision date
Type
Decision
DecisionConsent granted
Section 12(1)(a) Overseas Investment Act 2005
Decision MakerOverseas Investment Office
Decision Date10 March 2022
Pathway(s)Special forestry (One-off purchase)
InvestmentAn overseas investment in sensitive land, being the Applicant’s acquisition of a freehold interest in approximately 393.114 hectares of land located at Webb Road, Waipahi, Otago
Consideration$1,260,000
ApplicantKakariki Joint Venture
United States of America (50.75%)
United Kingdom (19.81%)
Luxembourg (13.4%)
Germany (4.555%)
Switzerland (3.66%)
Various (7.6%)
VendorArthurton Seven 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 is already used as a commercial forestry operation and has approximately 342 hectares planted in mature commercial forest. The remainder of the land (approximately 51 hectares) is predominantly native bush or unsuitable for planting.
The Applicant intends to purchase the Land to continue its existing use as a commercial forestry estate. The majority of the existing tree crop is currently being harvested (pursuant to an existing forestry right) and the Applicant expects to begin replanting this area in 2023.

There are no existing arrangements in place in relation to the land.

More informationAsha Stewart 
Quigg Partners
PO Box 3035
Wellington 6140