grows NZ forestry interests

Western Southland, and a 379ha Wairarapa forestry block from Tunakino Forestry Ltd.

and 2015. The intention is to continue operating it as a commercial plantation forest.

NETHERLANDS-based Ingka Investments has increased its New Zealand forestry investment, with the government approving its purchase of a Southland livestock farm and existing Wairarapa forestry.

The Overseas Investment Office (OIO) is allowing Ingka, under the special forestry provision, to purchase a 597ha sheep and beef farm at Happy Valley near Tūātapere in

Ingka’s intention for the Southland farm is to establish and maintain forests on about 535ha and to subdivide and sell two homes.

The European company – the largest franchisee of IKEA stores internationally – already owns or manages about 16,000ha spread over eight properties in NZ.

It paid $2.8 million for the Wairarapa forestry block, a second rotation forest established between 2012

The OIO has also approved the sale for forestry of a 1133ha sheep and beef farm at Taumarunui.

Austrian buyer Johannes Trauttmansdorff-Weinsberg, who has extensive NZ forestry interests, paid $9.2m for the property.

All sales were approved under the special forestry one-off purchase provisions, which have been replaced by a new, higherstandard NZ benefit test.