Applicant
Kempen Capital Management N.V. and Paheko Orchards Limited Partnership
Case number(s)
202100633
Decision date
Type
Decision
Decision Consent Granted 
Section 12(a) Overseas Investment Act 2005
Decision Maker The Minister for Land Information and the Associate Minister of Finance
Decision Date 15 July 2022
Pathway(s) Benefit to New Zealand (Benefit to New Zealand - Farm land)
Investment Acquisition of a freehold interest in approximately 65.6 hectares of land located at 11 Radford Road, Lowburn, Central Otago
Asset Value $4,950,000
Applicant Kempen Capital Management N.V. and Paheko Orchards Limited Partnership
Each Netherlands (100%)
Vendor

Swann Road Farm Limited 
New Zealand (100%)
Background

Applicant Kempen Capital Management N.V (Kempen) is an asset management company incorporated in the Netherlands. Kempen has established a fund to give institutional investors opportunity to invest in farming operations worldwide, including in New Zealand. The other applicant, Paheko Orchards Limited Partnership (POLP) is Kempen’s holding entity for its New Zealand Investments. 

Applicants have been granted consent to acquire approximately 65.6 hectares of land in Lowburn, Central Otago (land) in order to establish a cherry orchard.  They intend to convert the land as follows:

  • 45 hectares into a cherry orchard; 
  • 11.6 hectares into a native forest; and
  • 9 hectares for auxiliary facilities needed for operation of the orchard (like sheds, load out area, new irrigation system, access and tracks). 

The investment is likely to result in new permanent jobs (orchard management positions), increased export receipts (about 70% of the cherry crop will be exported), additional investment for development purposes (installation of auxiliary facilities), and environmental benefit (as a result of the forest that will be established). 
More information Nicholas Russell 
Harbour Chambers
PO Box 10-242
The Terrace, Wellington