| Decision | Consent Approved Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 06 September 2022 |
| Pathway(s) | Special forestry (One-off purchase) |
| Investment | Kakapo Estate Limited acquiring 419.2543 ha at Hope Forest Estate, Mount Trotters Road, Otago |
| Consideration | $11,700,000 |
| Applicant | Kakapo Estate Limited ANZFF3 Limited which is wholly owned by ANZFOF3 NZ Pty Limited which is ultimately owned by The Trust Company (Australia) Limited as trustee for the New Forests Australia New Zealand Forest Operating Fund 3 which is wholly owned by certain overseas investment funds. The New Forests Australia New Zealand Forest Operating Fund 3 is managed by New Forests Asset Management Pty Limited. |
| Vendors | Averil Clarice Hope, Preston Andrew Hope, Alistair John Hope, Lynley Alison O'Connell and Clarke Craw & Company Nominees Ltd 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 Applicant is a holding company for forestry assets, of which the manager is an experienced forestry investment management firm. The land use is approximately, 382.9 hectares of forestry, 26 hectares of native vegetation, and 10.35 hectares of unplantable land relating to ridges, gullies and steep land, roads and tracks. The Applicant intends to continue to operate the land as commercial forests, and replant the crop of trees following harvest. The Applicant will continue to maintain relevant existing arrangements on the land, including an agreement with the Waitaki District Council. |
| More information | Daniel Williams Anderson Lloyd (Auckland) P O Box 399 Shortland Street Auckland 1140 |