| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 10 March 2022 |
| Pathway(s) | Special forestry (One-off purchase) |
| Investment | As overseas investment in sensitive land, being the Applicant’s acquisition of approximately 20ha of land located at 1458 Queen Charlotte Drive, Linkwater, Marlborough (Land). |
| Consideration | $145,880 |
| Applicant | Tasman Pine Forests Limited Japan (77%) Various (23%) |
| Vendor | Waerenga Southland 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 bare forestry land which has recently been harvested. There are no dwellings on the Land. The Applicant will replant almost all of the Land into commercial forestry ('pinus radiata') with the new forest to be planted by 30 June 2024. Harvesting of the new forest is due to commence around 2049, and replanting of a second rotation will commence once the first rotation of trees is harvested. |
| More information | Catherine Reid catherine@catherinereid.co.nz |
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