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Applicant
Pine Plantations Private Limited
Case number(s)
202100772
Decision date
Type
Decision
DecisionConsent granted
Section 12(1)(a) Overseas Investment Act 2005
Decision MakerOverseas Investment Office
Decision Date09 March 2022
Pathway(s)Special forestry (One-off purchase)
InvestmentAs overseas investment in sensitive land, being the Applicant’s acquisition of approximately 264ha of land located at 563 Happy Valley Road, Tuatapere (Land).
Consideration$2,000,000
ApplicantPine Plantations Private Limited
Malaysia (100%)
VendorBoundary Creek Limited
New Zealand (100%)
Background

The Applicant has been granted consent to acquire the Land under the special test relating to forestry activities set out in section 16A(4) of the Act. 
The Applicant intends to acquire the Land as an investment in commercial forestry. The Applicant is an experienced forestry investor in New Zealand and the Land adjoins other forestry land owned by the Applicant.

The Land is currently mostly farm land (approximately 160ha) with the remainder being mostly pockets of native bush. There are no dwellings on the Land. 

The Applicant will convert approximately 160ha of the Land into commercial forestry (pinus radiata) with the new forest to be planted by the end of 2024. Harvesting of the new forest is due to commence in 2048 when the trees are 26 years old, and replanting of a second rotation will commence once the first rotation of trees is harvested. 

By way of background, the Land that is the subject of this application is Land Use Capability (LUC) classifications: LUC 4 (2 ha) and LUC 6 (262ha).

More informationRachel Petterson
rachel@rurallaw.co.nz

See the attached assessment report linked below, which was published in response to an Official Information Act request:

Pine Plantations’ applications for consent to acquire land in Southland

Related files