| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua LINZ |
| Decision date | 25 January 2023 |
| Pathway(s) | Special forestry (One-off purchase) |
| Investment | 161.0821 hectares of land located at Whangaehu Valley Road, Whangaehu Valley, Masterton |
| Asset value | $2,350,000 |
| Applicant | Heilig Assets NZ Limited |
| Vendor | James Falloon, Joanna Falloon, and Stephen Kerr as Trustees of the Ditton No.2 Trust |
| 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. The Applicant intends to develop the land into a commercial Pinus Radiata Forest and use it exclusively for forestry. Once planting is complete approximately 86% of the Land will be used as a commercial forest. The remaining area of land will be made up of existing native bush and scrub, infrastructure, and buffer land which will include riparian and boundary setbacks. The land that is the subject of this application is Land Use Capability (“LUC”) classifications: LUC 3 (10 hectares), LUC 6 (149 hectares). |
| More information | Catherine Reid Catherine Reid Barrister catherine@catherinereid.co.nz |
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