Kauri Forestry LP Acquires Makirikiri Forest, Masterton
Kauri Forestry LP (Switzerland 65%, Germany 35%) and part of the Craigmore Sustainables Group, has received OIO consent to acquire freehold interests in approximately 711.7 hectares of land at Springhill Road, Bideford, Masterton (Makirikiri Forest). The vendors are James George Williams and Luce Jane Williams as trustees of the Longridge Trust (New Zealand 100%). The applicant is a forestry and horticulture investment vehicle with existing land holdings in New Zealand for similar purposes.
The property includes approximately 645 hectares of productive forestry land, almost entirely planted with Pinus radiata, which the applicant intends to continue using for production forestry. Consent was granted under the Sensitive Land – Special Forestry Test (One-off) pathway. The applicant satisfied the investor test and special forestry test criteria, allowing the transaction to proceed without requiring a national interest assessment.
While the acquisition secures professional management of a productive forestry estate, the consolidation of sensitive land under offshore ownership may reduce local input in land use decisions. Long-term management plans focused on financial returns could prioritise harvest schedules and investment strategies over environmental sustainability or regional community interests. The concentration of forestry assets within a single foreign-controlled entity may also limit competition in local forestry markets and reduce transparency for communities affected by land management practices. These issues highlight ongoing tensions between foreign investment, national interest, and sustainable forestry management in New Zealand.
See also: July 2025: Craigmore affiliate acquisitions of Omakere and Taihape forestry estates (OIO Decisions, March 2025 & July 2022); June 2025: ANZLAFF NZ Limited forestry acquisitions (OIO Decisions, June 2025).
Anglesea Hospital Limited Expands Hamilton Hospital Site
Anglesea Hospital Limited (Australia 55%, New Zealand 29%, South Korea 6%, China 5%, Various 5%), part of the Evolution Group, has received OIO consent to acquire a leasehold interest for 1.0037 hectares at 11 and 19 Knox Street, Hamilton. The vendor is South Bloc Limited (New Zealand 100%). The lease is part of an expansion project for the hospital, which provides private surgical and related healthcare services in Hamilton and surrounding areas. Total consideration payable over the lease term exceeds $100 million, triggering the requirement for OIO consent.
Consent was granted under the Significant Business Assets pathway. The applicant satisfied the investor test, and the Minister of Finance determined that the investment is not contrary to New Zealand’s national interest.
Although the investment supports healthcare expansion and improves capacity in Hamilton, the significant foreign ownership in a private healthcare provider may raise questions about local governance, pricing, and accessibility of services. Large-scale investments by international healthcare groups could prioritise profit and operational efficiency over community-centered healthcare objectives. While the land is not sensitive, ongoing oversight may be necessary to ensure alignment with national healthcare priorities and equitable access for patients.
See also: July 2025: PM Nominees C Pty Ltd acquisition of AVJennings residential land (OIO Decision, June 2025); July 2025: Anglesea Hospital lease expansion complements broader healthcare investment trends (OIO Decisions, 2025).
Trelinnoe Forest LP Acquires Kereru Forestry Land, Hastings
Trelinnoe Forest LP (100%), owned by German citizen Wilhelm Wilderich Graf von Spee, has received OIO consent to acquire a freehold interest of approximately 222.94 hectares at 463 Gull Flat Road, Kereru, Hastings. The vendor is Pairatahi Holdings Limited (New Zealand 100%). This represents the applicant’s second investment in New Zealand forestry, demonstrating continued interest from European investors in productive forestry land.
The property currently includes approximately 179 hectares of productive Pinus radiata, which the applicant intends to continue managing for production forestry, with harvesting scheduled to commence in 2051. Consent was granted under the Sensitive Land – Special Forestry Test (One-off purchase) pathway. The applicant satisfied both the investor test and the special forestry test criteria, allowing the transaction to proceed without a national interest assessment.
While the acquisition secures professional long-term management of the forestry estate, foreign consolidation of sensitive land may reduce local control and influence over environmental stewardship and land-use decisions. Long-term harvesting plans may prioritise financial returns over biodiversity, climate adaptation, or regional community considerations. Concentration of ownership in a single foreign entity may also limit market competition and reduce transparency for neighbouring communities and stakeholders. These issues reflect broader debates around foreign investment in New Zealand’s forestry sector.
See also: July 2025: Kauri Forestry LP acquisition of Makirikiri Forest (OIO Decision, July 2025); June 2025: ANZLAFF NZ Limited forestry acquisitions in Otago and Southland (OIO Decisions, June 2025).
Kauri Forestry LP Converts Waiotira Farm To Forestry, Whangarei
Kauri Forestry LP (Switzerland 65%, Germany 35%), part of the Craigmore Sustainables Group, has received OIO consent to acquire approximately 423.19 hectares of land at 290 Hilcrest Road, Waiotira, Whangarei District. The vendor is Taringamutu Farms Limited (New Zealand 100%). The land, currently used for sheep and beef farming, is adjacent to the applicant’s existing forestry operations, allowing for operational synergies and expansion of plantation forestry.
The applicant plans to convert approximately 262 hectares into commercial plantation forest, predominantly Pinus radiata, with planting scheduled during the winters of 2025 and 2026. Once matured, the crop will be harvested and replanted, supporting sustainable production cycles. The land consists mostly of Land Use Capability (LUC) class 6 (415 ha) and class 4 (six ha). Consent was granted under the Benefit to New Zealand pathway – Farm to Forestry conversion, with the applicant satisfying the investor test, and the investment being likely to benefit New Zealand. Key anticipated benefits include economic gains from increased export receipts, employment creation, capital investment, and climate-related benefits through reduced net carbon emissions.
While the project has clear environmental and economic benefits, foreign ownership of formerly pastoral land may reduce local community influence over land management decisions. Long-term management will be driven by commercial objectives, which could prioritise profitability and carbon credits over regional ecological or social considerations. Additionally, large-scale farm-to-forest conversions may have implications for local rural communities, including changes in land use patterns, biodiversity impacts, and reduced availability of agricultural land. These factors highlight the ongoing balance between foreign investment, economic development, and sustainable land management in New Zealand.
See also: July 2025: Kauri Forestry LP acquisition of Makirikiri Forest, Masterton (OIO Decision, July 2025); June 2025: ANZLAFF NZ Limited forestry acquisitions in Otago and Southland (OIO Decisions, June 2025).
Kauri Forestry LP Converts Kairakau Farm To Forestry, Hawke’s Bay
Kauri Forestry LP (Switzerland 65%, Germany 35%), part of the Craigmore Sustainables Group, has received OIO consent to acquire approximately 344 hectares of land at 56 Nilsson Road, Kairakau, Hawke’s Bay. The vendors are Joshua William Clyde Marriott, Michelle Elizabeth Martin, and Hansen & Bate Trustee Company Ltd as trustees of the Marriott Family Trust (New Zealand 100%). The land, currently used for cattle breeding and finishing, is adjacent to the applicant’s existing forestry operations, enabling operational integration and expansion of plantation forestry.
The applicant plans to convert approximately 264 hectares into commercial plantation forest, predominantly Pinus radiata, with planting scheduled during the winters of 2026 and 2027. Once matured, the crop will be harvested and replanted, supporting sustainable production cycles. The land consists mostly of Land Use Capability (LUC) class 7 (259 ha) and class 6 (83 ha), with a small area of class 3 (four ha). Consent was granted under the Benefit to New Zealand pathway – Farm to Forestry conversion, with the applicant satisfying the investor test, and the investment being likely to benefit New Zealand. Anticipated benefits include increased export receipts, employment creation, capital investment, and carbon emissions reduction.
Although the investment promotes economic and environmental benefits, foreign ownership of former pastoral land may reduce local oversight and influence over land management decisions. Farm-to-forest conversions, while climate-positive, could impact regional biodiversity, water management, and community land-use patterns. Concentration of land under a single foreign-owned entity may also limit local market competition and long-term transparency. These considerations reflect broader discussions around sustainable land use and foreign investment in New Zealand forestry.
See also: July 2025: Kauri Forestry LP – Waiotira farm conversion (OIO Decision, July 2025); July 2025: Trelinnoe Forest LP – Kereru, Hastings forestry acquisition (OIO Decision, July 2025).
Ingka Investments Acquires Lochindorb Forest, Otago
Ingka Investments Forest Assets NZ Limited and Ingka Investment Managements NZ Limited (Netherlands,100%) have received OIO consent to acquire a freehold interest in approximately 774 hectares at 638 Glenfalloch Road, Otago (Lochindorb Forest). The vendor is Lochindorb Estate Limited (New Zealand 100%). The land is currently used for commercial forestry, with a productive area of approximately 558 hectares planted in Pinus radiata and Douglas Fir.
The applicants plan to continue using the land for production forestry, with harvesting scheduled to commence in 2026. Consent was granted under the Sensitive Land – Special Forestry Test (One-off) pathway. The applicants satisfied both the investor test and special forestry test criteria, allowing the transaction to proceed without a national interest assessment.
While the investment ensures continued professional forestry management, the consolidation of sensitive land under foreign ownership raises questions about local control and oversight of forestry practices. Long-term harvesting and land-use decisions may prioritise profitability over ecological, cultural, or community considerations. Additionally, as the land is managed by a large international investment group, there may be reduced transparency and local engagement in operational and environmental decisions, reflecting wider concerns about foreign investment in New Zealand’s productive forestry estate.
See also: July 2025: Kauri Forestry LP – Kairakau, Hawke’s Bay (OIO Decision, July 2025); July 2025: Trelinnoe Forest LP – Kereru, Hastings (OIO Decision, July 2025).
SBI Holdings Increases Control Of Shinsei Bank, NZ (Retrospective Consent)
SBI Regional Bank Holdings Co. Ltd and SBI Holdings, Inc (Japan 66%, USA 19%, UK 8%, Various 7%) have received retrospective OIO consent to acquire 100% of the voting rights and 75% of total securities in SBI Shinsei Bank, Limited, a New Zealand-registered financial services entity. The vendors were existing shareholders of SBI Shinsei Bank with the same ownership profile. The transaction resulted in increased control of UDC Finance Limited, a wholly-owned New Zealand subsidiary of SBI Shinsei Bank. Said consideration was $1,341,231,665.
This was a retrospective application because the Applicants had increased their interests in Shinsei Bank through three transactions since 2023 without prior consent. The Applicants self-reported the breach to LINZ once aware, and the retrospective consent process was deemed appropriate given the circumstances. Consent was granted under the Significant Business Assets pathway, as the Applicants met the investor test criterion. A $40,000 retrospective penalty was imposed.
Retrospective approvals highlight risks of compliance gaps in foreign investments, particularly in the financial sector, where undisclosed shareholding changes can affect oversight and regulatory monitoring. Concentration of ownership under a foreign entity may raise issues regarding local financial stability, influence over lending decisions, and transparency. While the breach was self-reported, the need for retrospective consent reflects challenges in ensuring ongoing compliance with the Overseas Investment Act.
See also: June 2025: PM Nominees C Pty Ltd – AVJennings Limited residential land acquisition (OIO Decision, June 2025); July 2025: Tribe BidCo Limited – Clanwilliam Headquarters Limited (OIO Decision, June 2025).
Coherent Hotel Limited Acquires Moose Lodge, Rotorua
Coherent Hotel Limited (Japan 51%, Indonesia 49%) has received OIO consent to acquire a freehold interest in approximately 38.343 hectares at 843 State Highway 30, Tikitere, Rotorua. The vendor is Cogent Corporation Limited (Indonesia 100%). The property, Moose Lodge, is a historic site on the shore of Lake Rotoiti that has been closed since 2005. The applicant plans to refurbish and fully reopen the lodge, creating a functional hospitality facility and supporting regional tourism.
Consent was granted under the Sensitive Land – Benefit Test pathway. The applicant satisfied the investor test criterion and the Minister of Finance determined the investment is likely to benefit New Zealand, particularly through capital expenditure, job creation, and increased international tourism revenue. While the reopening of Moose Lodge will boost tourism and local employment, the property’s foreign ownership may raise questions about long-term management and local decision-making, particularly for historic or culturally significant sites. Additionally, reliance on international investors in tourism can make regional economies vulnerable to global shocks or travel disruptions.
See also: July 2025: Tasman Tourism New Zealand Limited – Wanaka Top 10 Holiday Park (OIO Decision, June 2025); July 2025: SBI Regional Bank Holdings – Shinsei Bank, NZ (OIO Decision, July 2025).