| Decision | Consent Granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 16 October 2023 |
| Pathway(s) | Sensitive land – Special forestry test (one off) |
| Investment | Acquisition of approximately 305.94 ha at 438 Mangamuka Road (Omakura Forest), Mangamuka |
| Consideration | Withheld under s.9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Summit Forests New Zealand Limited Japan 100% |
| Vendor | South Pacific Forestry Holdings Limited New Zealand 100% |
| Background | The Applicant is is one of the largest commercial forest owners in New Zealand, ultimately owned by Sumitomo Corporation. The land is used nearly exclusively for forestry with approximately 180 hectares planted in radiata pine. The remaining approximately 120 hectares of land contains native bush and scrub, roads, tracks, buffer land, set backs and riparian planting. The Applicant will continue to use the land nearly exclusively for forestry by harvesting and replanting the existing crop of trees. Consent was granted as the Applicant met the investor test criterion and the special forestry test criteria. |
| More information | Robert McGregor Summit Forests New Zealand Limited Level 10 57 Fort Street Auckland Central 1010 |