| 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 | 8 February 2023 |
| Pathway(s) | Special forestry (One-off purchase) |
| Investment | Acquisition of freehold interest in approximately 285.7710 hectares of land at 660 Happy Valley Road, Tuatapere. |
| Consideration | $3,470,000 |
| Applicant |
Pine Plantations Private Limited |
| Vendor |
Richard James Greer and Timothy William Greer as trustees of the Greer Family Trust |
| 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 being used as a sheep farm with a small number of breeding cows. The Applicant intends to establish and maintain approximately 183.67 hectares of commercial plantation forest predominantly consisting of Pinus Radiata. Approximately 5 hectares of land will be subdivided and sold. The residual land of approximately 93.52 hectares contains native bush, buffer land, set-backs and riparian planting. The Land falls under these Land Use Capability (LUC) classifications: LUC 4 (approx. 64 hectares) and LUC 6 (approx. 223 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 |
Rachel Petterson |
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