| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 23 May 2023 |
| Pathway(s) | Special forestry (One-off purchase) |
| Investment | Acquisition of freehold interest in approximately 87.5093 hectares of land at 215 Hadlow Road, Timaru (Leckie Forest). |
| Consideration | $700,000 |
| Applicant | Kakapo Estate Limited (ANZFF3 Limited 100%) ANZFF3 Limited which is wholly owned by ANZFOF3 NZ Pty Limited which is ultimately owned by The Trust Company (Australia) Limited as trustee for the New Forests Australia New Zealand Forest Operating Fund 3 which is wholly owned by certain overseas investment funds. The New Forests Australia New Zealand Forest Operating Fund 3 is managed by New Forests Asset Management Pty Limited. |
| Vendor | Bruce Raymond Leckie and Glenda Marion Leckie (New Zealand 100%) |
| Background | The Applicant is a holding company for forestry assets and its manager is an experienced forestry investment management firm. The land is currently used as approximately 79.1 hectares of forestry (consisting of 36.4 hectares of existing plantation and 42.7 hectares of fallow land awaiting replanting), and 8.4 hectares of unplanted land (native bush, unplantable ridges, gullies and steep land, and roads and tracks). The Applicant intends to continue to operate the land as commercial forest and replant the crop of trees following harvest. Consent was granted as the Applicant has met the investor test criterion and the special forestry test criteria. |
| More information | Daniel Williams Anderson Lloyd P O Box 399, Shortland Street Auckland 1140 |
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