| Decision |
Consent granted |
|---|---|
| Decision maker | The Minister for Land Information and the Associate Minister of Finance |
| Decision date | 20 March 2023 |
| Pathway(s) | Special forestry (One-off purchase) |
| Investment | Cerberus Vermogensverwaltung GmbH - Acquisition of 368.1575 ha of land located at 69 Inches Road, Masons Flat, Hurunui (69 Inches Road) |
| Consideration | $3,100,000 |
| Applicant |
Cerberus Vermogensverwaltung GmbH |
| Vendor | Loch Ard Limited New Zealand (100%) |
| Background |
The Applicant, a repeat investor, has been granted consent to acquire the Land under the special test relating to forestry activities set out in section 16A(4) of the Act. The Applicant is majority owned by Dr Wolfgang Leitner, an Austrian citizen. The Applicant has developed and operated forestry investments in New Zealand since 2019. The Land is currently used for stock grazing. The Applicants plans to establish and maintain a total of approximately 320 hectares of rotation forest. The trees will be harvested after approximately 27 to 30 years, and replanting will occur following harvest. Planting is intended to commence on the Land in 2023. The remaining land will be allocated to infrastructure, native plantings, and various setbacks. By way of background, the Land Use Class (LUC) details for this property are: LUC Class 3(<1 ha), LUC Class 6 (364 ha). |
| More information |
Catherine Reid |