| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | The Minister for Land Information and the Associate Minister of Finance |
| Decision date | 19 December 2022 |
| Pathway(s) | Special forestry (One-off purchase) |
| Investment | Acquisition of approximately 496.7962 hectares of land located at 550 Dixon Road and 875 Woodleigh Road, Waikato. |
| Consideration | $7,920,000 |
| Applicant | Ponga Silva Limited Germany (52%) United Kingdom (10%) USA (15.4%) France (6.3%) Switzerland (4.6%) Various (11.7%) |
| Vendor | Burklee Limited New Zealand (100%) |
| Background | The Applicant 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 as a commercial sheep and beef farming and grazing operation. The Applicant plans to establish and maintain approximately 395 hectares of commercial plantation forest consisting of Pinus radiata. Planting is planned to begin in 2023. Approximately 3.8 hectares of land will be subdivided and sold. The residual land includes 33.4 hectares of native bush and a further 57.7 hectares to accommodate infrastructure, buffer areas and setbacks. The Land is a combination of the following Land Use Capability classifications – LUC 4 (approximately 6 hectares) and LUC 6 (approximately 491 hectares). The Ministers granted consent in this case as they considered the Applicant to have met the criteria for the investor test and the special forestry test. |
| More information | Sarah Blackmore Russell McVeagh (Auckland) PO Box 8 Auckland 1140 |
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