| Notification | Section 23A Overseas Investment Act 2005 Schedule 4(3) - Forestry activities – Standing consent transaction |
|---|---|
| Notification number | 1 (of 20) |
| Decision Date | 1 April 2022 |
| Pathway(s) | Special forestry (Standing consent) |
| Investment | An overseas investment in sensitive land, being the Consent Holder’s acquisition of a freehold interest in approximately 200.3826 hectares of land at 351 Bull Road, Paparoa, Kaipara District. |
| Asset Value | $3,120,000 |
| Applicant | Kauri Forestry LP Switzerland (93.00%) Germany (7.00%) |
| Vendor | KK Mason Farms Limited New Zealand (100%) |
| Background |
The Consent Holder was granted a standing consent under the special forestry test on 22 March 2021. This permits the Consent Holder to acquire up to 6,000 hectares of land in up to 20 transactions by 30 September 2023. This is the first acquisition of land under the standing consent. The land was primarily used by the Vendor for sheep and beef cattle grazing. The Applicant intends to plant approximately 123 hectares of the land as a commercial forest. Approximately 51.3 hectares of the land containing one dwelling will be subdivided from the land and sold to a third party. The remaining 25.7 hectares of land will be made up of unplantable land, native bush and buffer land which will include riparian and boundary setbacks. By way of background, the land is Land Use Capability Classifications 4 (56.2 hectares), and 6 (144.1826 hectares). We are satisfied that the notified transaction falls within the scope of the standing consent. |
| More information | Christina Lefever Lefever Law PO Box 33064 Christchurch 8244 |