| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 15 September 2022 |
| Pathway(s) | Special forestry (One-off purchase) |
| Investment | 332.2135 hectares of land located at Apley Road, Puketapu, Hawkes Bay |
| Consideration | $6,550,000 |
| Applicant | Heilig Assets NZ Limited (Austria 100%) |
| Vendors | Stuart Harry Harper, Bailey Ingham Trustees Ltd and Redoubt Trustees Ltd as trustees of Stuart Harper Family Trust (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 land to be acquired is currently used by the Vendor for sheep and beef farming. Following settlement, the Applicant intends to subdivide and sell approximately 4 hectares of the land. The Applicant intends to develop the remaining land into a commercial Pinus Radiata Forest and use it exclusively for forestry. Once planting is complete approximately 82% of the Land will be used as a commercial forest. The remaining area of land will be made up of 28 hectares of existing native bush and scrub and 10.3174 hectares of infrastructure and buffer land which will include riparian and boundary setbacks. By way of background, the land that is the subject of this application is Land Use Capability (“LUC”) classifications: LUC 3 (3 hectares), LUC 6 (333 hectares). |
| More information | Catherine Reid, Barrister catherine@catherinereid.co.nz |
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