| Notification | Section 23A Overseas Investment Act 2005 Schedule 4(3) - Forestry activities – Standing consent transaction |
|---|---|
| Notification number | 6 (of 20) |
| Decision Date | 14 November 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 454.1175 hectares of land at 20 Taylor Road, Paparoa (Martinvale Farm). |
| Asset Value | $7,140,000 |
| Applicant | Kauri Forestry LP Switzerland (93.00%) Germany (7.00%) |
| Vendor | Martinvale 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 sixth acquisition of land under the standing consent. The land was primarily used by the Vendor as a dairy and beef farm, with some small pockets of existing forest. The Applicant intends to plant approximately 145 hectares of the land as a commercial forest. Three existing dwellings will be included in 206 hectares that will be subdivided and sold by the Consent Holder. The remaining 103 hectares of land will be made up of unplantable land, native bush (77 hectares), ridges, gullies, steep land (18 ha) and buffer land, setbacks and riparian planting (7.3 hectares). By way of background, the land is Land Use Capability Classifications 4 (221 hectares), and 6 (236 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 |