| Notification | Section 23A Overseas Investment Act 2005 Schedule 4(3) - Forestry activities – Standing consent transaction |
|---|---|
| Notification number | 5 (of 20) |
| Decision Date | 17 October 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 376.049 hectares of land at 246 Brownlie Road, Frasertown, Wairoa Hawkes Bay. |
| Asset Value | $4,800,000 |
| Applicant | Kauri Forestry LP Switzerland (93.00%) Germany (7.00%) |
| Vendor | Ross Craig Mitchell, Trudi Lee Mitchell and Bain & Sheppard Trustees No 1 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 fifth acquisition of land under the standing consent. The land was primarily used by the Vendor as a cattle farm. The Applicant intends to plant approximately 290 hectares of the land as a commercial forest. The remaining 86 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 1-5 (18.8 hectares), and 7 (356.1 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 |