| Notification | Section 23A Overseas Investment Act 2005 Schedule 4(3) - Forestry activities – Standing consent transaction |
|---|---|
| Notification number | 17 (of 20) |
| Decision date | 21 November 2023 |
| Pathway(s) | Special forestry (Standing consent) |
| Investment | Acquisition of a freehold interest in approximately 127.796 hectares at 758 Glenroy Road, Whangara, Gisborne. |
| Asset value | $2,000,000 |
| Applicant | Kauri Forestry LP Switzerland 93% Germany 7% |
| Vendor | Peter David Garland New Zealand 100% |
| Background | The Consent Holder was granted a standing consent under the special forestry test on 22 March 2021. This permits the Consent Holder to acquire up to 6,000 hectares of land in up to 20 transactions by 30 September 2023. This is the seventeenth acquisition of land under the standing consent. The Consent Holder intends to convert the farmland into a commercial forest. Approximately 68 hectares will be planted in predominately Pinus Radiata, 40 hectares of the land comprises existing natives and 5 hectares is unplantable. Approximately 7.5 hectares of the land, including a dwelling will be subdivided and sold. The Consent Holder is expecting a rotation time of 25-30 years. The land is predominantly LUC Class 6. |
| More information | Christina Lefever Lefever Law PO Box 33064 Christchurch 8244 |