Overseas Investment Office – April 2026 Decisions

IKEA Investment Arm Expands New Zealand Forestry Holdings

Ingka Investments Forest Assets NZ Limited and Ingka Investments Management NZ Limited (Netherlands 100%) have been granted consent to acquire approximately 521 hectares of forestry land at Weber in the Tararua District. The vendors are Cranco Forst (United States 100%). The applicants are owned by Ingka Investments BV, the investment arm of the Ingka Group, best known as the largest global franchisee of the IKEA retail network. The property contains around 364 hectares of productive forestry land, including cut-over areas that the applicants intend to replant. The land will continue to be used for production forestry under New Zealand’s special forestry pathway.

The decision reflects the continuing expansion of large international institutional investors into New Zealand’s forestry sector. While overseas forestry investment provides capital for replanting, land management, and long-term forest productivity this however, continue to raise concerns about the growing transfer of productive land into foreign ownership and the increasing role of overseas investment funds in controlling New Zealand’s forestry estate.

See also: OIO Decisions, December 2025, “IKEA Investment Arm Expands Forestry Footprint In Marlborough”, https://www.cafca.org.nz/foreign-investment-in-aotearoa-new-zealand/foreign-investment-in-new-zealand/analysis-of-foreign-investment-decisions-by-year/oio-decisions-for-2025/2026/04/overseas-investment-office-december-2025-decisions/

US Investor Acquires Marlborough Farm For Intensive Cattle OperationGlobal Packaging Company With New Zealand Assets

Sjerp William Ysselstein, as trustee for The Marlborough Family Estate Trust (United States 100%), has been granted consent to acquire approximately 288 hectares of farmland at Kenepuru Sound, Marlborough, for $4.25 million. The property is currently operated as a sheep and cattle breeding and finishing farm and was purchased from New Zealand owners. The vendors were RW Hopkinson and EJ Hopkinson-Young Partnership (New Zealand 100%).

The applicant, who has a background in North American dairy and beef farming, intends to convert the property into an intensive feedlot operation using barn systems for feeding and housing cattle. Anticipated benefits include increased agricultural production, higher export earnings, new employment opportunities, and additional capital investment.

The investment may improve productivity and generate economic returns but the proposal represents a significant shift in land use toward a more intensive farming model. This also highlights the continuing acquisition of New Zealand farmland by overseas investors, raising broader questions about foreign ownership of agricultural land and the long-term environmental and social implications of increasingly intensive farming systems.

Australian Investor Acquires Twizel Lifestyle Block For Tourism Development

Ryan Thomas Bullock (Australia 100%) has been granted consent to acquire approximately 13.3 hectares of land near Twizel for $685,000. The property is currently used as a lifestyle block, but the purchaser intends to convert it into a boutique lodge aimed at attracting high-value domestic and international tourists. The vendors were Grant Andrew Robertson and Rachel Ann Bates (New Zealand 100%). The investment is likely to benefit New Zealand through capital expenditure and the creation of employment opportunities associated with the tourism development.

While relatively small in scale compared with major tourism investments, the Decision reflects the continued acquisition of New Zealand land by overseas investors for tourism-related ventures. Despite that boutique accommodation developments can generate regional employment and attract visitor spending, this, however, may question the cumulative effects of foreign ownership in tourism destinations and the increasing conversion of rural and lifestyle properties into visitor accommodation aimed at higher-income markets.

Foreign Investors Acquire Australasian Self-Storage Business

Iridium SP Bidco Pty Ltd and ITG Australia TS Sub Pty Ltd as trustee for the Iridium SP Bid Trust (Singapore 50%, North America 30%, Various 20%) have been granted consent to acquire up to 100% of the shares in National Storage Holdings Limited and up to 100% of the units in the National Storage Property Trust. Vendor is National Storage REIT (Australia 48%, United States of America 20%, United Kingdom 5%, Various 27%).

The acquisition will give the investors control of National Storage, one of the largest self-storage operators in Australia and New Zealand. The purchasers are jointly owned by Brookfield, a global investment firm, and a Singaporean State-owned investment entity responsible for managing assets on behalf of the Government of Singapore. The transaction was subject to a national interest assessment because of the involvement of a foreign government-linked investor. The Minister of Finance determined that the investment was not contrary to New Zealand’s national interest

While the investment involves commercial storage facilities rather than farmland or strategic infrastructure, it reflects the growing role of large international investment funds and sovereign wealth-related entities in New Zealand’s property and business sectors. Despite that such investments provide capital and operational expertise we can see the increasing ownership of New Zealand commercial assets by foreign institutional investors raises broader questions about the concentration of economic ownership offshore and the long-term flow of profits from businesses operating in New Zealand.

German Forestry Investor Expands Holdings Across Northland And Taranaki

Sustainable Forestry New Zealand Limited (Germany 70%, United States 10%, United Kingdom 4%, Various 16%) has been granted consent to acquire four forestry properties in Northland and Taranaki comprising approximately 1,521 hectares of land. The properties include Kirikopuni Forest near Tangiteroria, Pukehuia Forest at Arapohue, O’Carroll Forest near Maungakaramea, and Okau Forest in the Taranaki region.

Together, the forests contain approximately 1,218 hectares of productive radiata pine plantation which are all 100% New Zealand owned. The purchaser is part of the German insurance and financial services group HDI Haftpflichtverband der Deutschen Industrie VaG. The company intends to continue operating the properties as commercial production forests, with harvesting of some areas expected to begin in 2044.

The acquisition continues the expansion of large overseas institutional investors into New Zealand’s forestry sector. While foreign investment provides capital for forest management, replanting, and long-term timber production it is to be noted, however, that points to the steady transfer of productive land into overseas ownership and questions the growing influence of international financial institutions over significant areas of New Zealand’s forestry estate and future land-use decisions.

See also: “Foreign Ownership Of New Zealand Ramps Up, Especially Forestry”, Council of Outdoor Recreation Associations of New Zealand, 15/4/26, https://coranz.org.nz/foreign-ownership-of-new-zealand-ramps-up-especially-forestry/.

UAE-Australian Tourism Investors Expand New Zealand Holiday Park Holdings

Tasman Tourism New Zealand Limited (United Arab Emirates 90%, Australia 10%) has been granted consent to acquire approximately 6.95 hectares of land associated with the Hahei Beach Resort and Raglan Sunset Motel. The company operates holiday accommodation businesses under the Tasman Holiday Parks brand and intends to continue operating the properties while investing further capital into the sites. The vendor was Hahei Beach Limited (New Zealand 100%).

The investment would generate economic benefits through increased capital expenditure, greater productivity of the tourism assets, and support for Government tourism objectives. Because the company is majority owned by overseas investors, including interests linked to the United Arab Emirates, the transaction was also subject to a national interest assessment.

The purchase continues the trend of overseas investment funds and tourism operators acquiring New Zealand accommodation assets. While this point to investment, visitor growth, and tourism development benefits, the transaction further transfers ownership of strategic tourism infrastructure and associated land into foreign ownership. It highlights the ongoing tension between attracting overseas capital and retaining domestic control over assets linked to New Zealand’s tourism economy.

See also: OIO Decisions, June 2025, “Tasman Tourism New Zealand Limited Acquires Wanaka Holiday Park”, https://www.cafca.org.nz/foreign-investment-in-aotearoa-new-zealand/foreign-investment-in-new-zealand/analysis-of-foreign-investment-decisions-by-year/oio-decisions-for-2025/2025/12/overseas-investment-office-june-2025-decisions/.

Salm-Salm Timber Luxembourg Sàrl (Germany 88%, Luxembourg 12%) has been granted consent to acquire approximately 248 hectares of forestry land known as Ben Nevis Forest near Dannevirke. The forest contains around 229 hectares of productive pine plantation and will continue to be managed for commercial forestry purposes. The purchaser is a Luxembourg-based investment vehicle ultimately backed by a group of European insurance companies and private investors. The vendor was Melrose Station Limited Partnership (New Zealand 100%).

The investment adds to the growing trend of overseas institutional investors acquiring New Zealand plantation forests as long-term assets. Despite that the forestry investment provides capital, supports rural employment, and contributes to timber production and carbon sequestration objectives, this continues to raise concerns about the steady transfer of productive land into foreign ownership, the concentration of forestry assets in large international investment portfolios, and the extent to which long-term economic returns flow offshore rather than remaining within regional communities.

Overseas-Owned Developer Acquires Land For Havelock North Subdivision Infrastructure

CDL Land New Zealand Limited (Singapore 57%, New Zealand 38%, Various 5%) has been granted consent to acquire approximately 0.36 hectares of sensitive land at Te Aute Road, Havelock North, for $200,000. The company, a subsidiary of NZX-listed CDL Investments, plans to use the land for stormwater infrastructure associated with an adjoining residential subdivision already under development. The acquisition is intended to support the servicing requirements of the wider housing project and facilitate future residential growth in the area. The vendor was Catherine Theresa Bradbury (New Zealand 100%)

The acquisition contributes to housing development by enabling essential infrastructure that local communities need to accommodate population growth. Stormwater systems are a critical component of urban development, helping manage flooding risks, environmental impacts, and the long-term sustainability of new residential areas. However, the case also reflects the broader role of overseas-controlled property developers in New Zealand’s housing sector.

While foreign capital can help finance and accelerate development projects, that increasing reliance on overseas investment may gradually shift influence over land use and urban development away from local ownership. The cumulative effect of many small acquisitions can also contribute to concerns about the extent of foreign involvement in New Zealand’s property market and whether the long-term benefits generated by development remain within New Zealand communities.

Carbon Offset Forestry Investment Expands In Wairarapa

SCOOF Taonga Investments Limited (United Kingdom 96%, Bermuda 4%), acting for the Stafford Carbon Offset Opportunity Fund, has been granted consent to acquire approximately 566 hectares of land at Admiral Station Road, Gladstone, for production forestry use. The land, currently already used for pinus radiata forestry, will continue to be managed for long-term carbon forestry and timber harvesting purposes under the new ownership structure. The vendor was Pukekiekie Farming Ltd (New Zealand 100%).

The investment reflects the growing role of international capital in New Zealand’s carbon forestry sector, where land is increasingly viewed not only as a productive asset but also as part of global emissions reduction and carbon offset strategies. Such investments bring long-term capital stability, continued forestry employment, and alignment with climate objectives through carbon sequestration and sustainable land use.

However, this would point to the continued consolidation of forestry land under offshore-managed carbon funds, raising concerns about long-term ownership patterns and the extent to which carbon-credit driven investment priorities align with local land use needs. There are also broader questions about whether returns from carbon forestry are retained within New Zealand communities or increasingly captured by overseas investment structures. This adds to ongoing debate around the balance between climate-driven investment flows and domestic control of productive land.

Swiss–German Forestry Investor Expands New Zealand Landholdings Through Multiple Wairarapa Acquisitions

Kauri Forestry LP (Switzerland 65%, Germany 35%), part of the Craigmore Sustainables Group, has been granted consent across multiple transactions in April 2026 to acquire and convert a combined portfolio of rural land in the Wairarapa and Hawke’s Bay regions. The investments include approximately 206 hectares of existing production forest at Tinui (Manawa Forest) and a further approximately 360 hectares of farmland at Omakere intended for conversion into Pinus radiata forestry, alongside continued commercial forestry use of existing assets.

Across the three approvals, the Applicant is consolidating a long-term forestry portfolio focused on both maintaining existing forest estates and expanding into farm-to-forestry conversion projects. The Tinui and Manawa Forest acquisition continues established timber production, while the Omakere property represents a shift from pastoral farming into carbon-sequestering plantation forestry, with planting planned over the 2026/27 period. The broader strategy reflects Craigmore Sustainables’ model of combining environmental outcomes such as carbon reduction with export-oriented timber production.

These investments may bring strong long-term forestry management expertise, sustained rural employment, and increased export earnings from timber production, while also contributing to carbon sequestration and land-use optimisation of lower capability farmland. However, concerns remain around the continued accumulation of large-scale rural land by offshore-backed investment structures, particularly in regions where land-use change from farming to forestry can affect local rural economies, community identity, and downstream agricultural production capacity. While the environmental benefits are often highlighted, the long-term distribution of ownership and profits from carbon forestry remains a recurring policy debate.

UK–NZ Renewable Energy Investor Expands Solar Portfolio In Waikato

Harmony Energy Holdings (TSF) Limited (New Zealand 50%, United Kingdom 50%), ultimately linked to UK-based renewable energy developers, has been granted consent to acquire up to 50% of shares in HENZ Midco Limited, giving it indirect interests in approximately 262 hectares of sensitive land at Te Aroha, Waikato. The vendor was Harmony Energy Limited (United Kingdom 57%, New Zealand 28%, Portugal 15%).

The investment continues an existing project pipeline already approved in 2024, where the group was permitted to establish and develop solar farm infrastructure across New Zealand. The current transaction consolidates ownership and governance of that development pathway, ensuring continuity of construction and operation of large-scale solar generation assets. The Applicant’s background in UK and European battery storage and solar projects signals transfer of technical capability into the New Zealand market.

The deal’s expected benefits include increased clean electricity generation, infrastructure investment, and potential technology spillovers but there is increasing complexity of cross-border ownership in strategic infrastructure such as energy generation. While benefits include capital inflow and expertise, concerns often focus on foreign control of critical energy assets and the long-term governance of nationally significant infrastructure, especially where ownership is split across multiple jurisdictions.

Singapore–Australia Impact Investment Secures Arapaoa Island Farm For Youth Training And Mixed Agriculture

LWC 2025 LP (Singapore 50%, Australia 50%) has been granted consent to acquire approximately 467.7 hectares of farm land on Arapaoa Island in Marlborough for $4.4 million. The vendor was Heberley Brothers Trustee Limited as trustee of the Heberley Brothers Trust (New Zealand 100%). The investment involves continued sheep and cattle farming operations, alongside the development of vocational education facilities aimed at hosting youth training programmes for students aged 11–18. The project is structured as a hybrid agricultural and social impact initiative.

Alongside maintaining productive farming, the Applicant intends to introduce cattle operations and develop on-site accommodation and training infrastructure. The involvement of Singapore-based charitable interests is central to the project’s positioning, with the land also being used to support youth development programmes through outdoor and vocational learning.

This may be a strong example of impact investment in rural New Zealand, combining productive land use with education, employment creation, and community development outcomes. The continued agricultural use of the land also ensures ongoing export production while adding a social services dimension that is less common in traditional overseas farm acquisitions. However, this leads to questions whether long-term control of rural land by offshore-linked entities aligns with New Zealand’s broader land sovereignty and rural ownership objectives. While the stated social benefits are significant, outcomes will depend heavily on long-term delivery of education programmes and whether community benefits remain central beyond the initial investment phase.

Japanese Forestry Group Secures Long-Term Control Of 4,400ha Wairarapa Forest Estate

Juken New Zealand Limited (Japan 78%, Hong Kong 22%), ultimately owned by WoodOne Co. Ltd, has been granted consent to acquire a forestry right over approximately 4,419 hectares of land across the Ngaumu Forest area in Masterton for $375,000. The transaction replaces an existing Crown forestry licence and allows the company to continue long-term production forestry operations in the region. The vendor was RTMR Custodian Trustee Limited (New Zealand 100%).

The investment is part of a continuation strategy rather than a new land-use change. The Applicant already manages the forest under existing arrangements and will maintain radiata pine production and harvesting cycles across the estate. The acquisition of the forestry right effectively secures operational continuity and long-term supply certainty for its timber and building materials business in Japan and international markets.

The deal supports ongoing forestry exports, regional employment, and sustained investment in plantation forestry infrastructure. However, the transaction also reflects a broader structural trend: long-duration control of large-scale forestry assets by offshore industrial groups. Such arrangements raise recurring policy questions around long-term land control, value capture, and whether forestry-linked returns sufficiently remain within New Zealand.

Swiss–German Forestry Fund Expands Conversion Strategy Into Hawke’s Bay Farmland

Kauri Forestry LP (Switzerland 65%, Germany 35%), part of the Craigmore Sustainables Group, has been granted consent to acquire approximately 360 hectares of farmland at Omakere, Hawke’s Bay for conversion into a commercial Pinus radiata forestry operation. The vendors were John Geoffrey Kerr and Beverley Helen Kerr (New Zealand 100%). The land, largely classified as lower-quality Land Use Capability LUC 6 and 7 soils, is scheduled for afforestation during the 2026/27 planting seasons, with long-term harvest and replanting cycles planned.

The investment continues a broader strategy of converting marginal agricultural land into production forestry assets. The Applicant intends to integrate the site into its wider forestry and horticulture portfolio across New Zealand, with expected gains in export forestry output, regional employment, and capital investment into land development and planting infrastructure. However, the transaction also raises familiar trade-offs.

Large-scale offshore-linked forestry conversion can reduce the availability of land for domestic food production, particularly in regions where future agricultural intensification might otherwise be possible. Also, it is to be noted that while carbon and export benefits are significant, ownership and long-term revenue streams remain largely offshore, reinforcing concerns about gradual foreign consolidation of productive rural land. There is also ongoing debate about whether plantation forestry delivers sufficient regional diversification compared to mixed farming systems.

Singapore Sovereign-Linked Investor Expands Auckland CBD Commercial Portfolio

Precinct Pacific Investment Limited Partnership (Singapore 75%, New Zealand 22%) has been granted consent to acquire a long-term leasehold interest in the office and commercial complex at 10–26 Jellicoe Street, Auckland, for approximately $205 million. The transaction involves a partnership between Reco Pacific Private Limited and Precinct Properties New Zealand Limited, focused on commercial real estate investment and asset management.

The vendor was Kiwi Property Holdings No. 4 Limited (New Zealand 66%, United States 9%, Australia 5%, United Kingdom 3%, Europe Region 2%, Various Regions 15%).The asset will continue to operate as a leased commercial property, with tenants occupying office and business spaces in Auckland’s waterfront precinct. The Applicant’s strategy is centred on stable, long-duration returns from premium urban real estate, supported by strong institutional capital backing, including Singapore-linked sovereign investment structures.

The deal reinforces continued foreign institutional confidence in Auckland’s commercial property market. It supports liquidity in large-scale property transactions, ongoing asset redevelopment potential in the CBD, and integration into global capital markets. The involvement of Precinct Properties also suggests continuity with existing local development expertise. However, the transaction also reflects the steady consolidation of high-value urban commercial assets under offshore-aligned capital.

While such investment improves capital availability and market depth, it raises recurring concerns about long-term control of strategic urban real estate, rental affordability pressures in premium precincts, and the extent to which returns generated in central Auckland remain within New Zealand’s domestic economy. Sovereign-linked capital also introduces geopolitical sensitivity considerations, particularly where large-scale infrastructure-adjacent property is involved.

ronics manufacturer that supplies components to global markets and intends to complete the acquisition through a full takeover offer under the New Zealand Takeovers Code.

While the transaction involves a high-technology manufacturing business rather than land or traditional infrastructure assets, it continues a long-standing trend of successful New Zealand technology companies being absorbed into larger overseas corporations. Despite foreign ownership being able to provide access to global distribution networks, investment capital, and expanded research opportunities, it is to be noted, however, that acquisitions of innovative New Zealand firms can also result in strategic decision-making, intellectual property, and future economic returns being increasingly controlled offshore, raising broader questions about New Zealand’s ability to retain ownership of advanced technology enterprises as they grow and mature.

See also: NZX announcements regarding the Bourns takeover offer for Rakon (2026) e.g. https://www.nzx.com/announcements/471909

German Investment Fund Expands Forestry Holdings In Northland

Sustainable Forestry New Zealand Limited (Germany 70%, United States 10%, United Kingdom 4%, Various 16%) has been granted consent to acquire three Northland forestry properties comprising approximately 1,177 hectares of land, including around 993 hectares of productive forest. The acquisitions include Paradise Forest at Tangiteroria (279 hectares), a forestry property at 4098 State Highway 14, Tangiteroria (460 hectares), and Maungaturoto Forest near Paparoa (438 hectares). The company is part of the German insurance and financial services group HDI Haftpflichtverband der Deutschen Industrie VaG and intends to continue using all three properties for commercial forestry production.

The transactions represent a further expansion of overseas ownership within New Zealand’s forestry sector, particularly by large institutional investment funds seeking long-term timber assets. Such investments may provide capital for forest management and contribute to export earnings. However, the continued transfer of significant forestry land into foreign ownership raises ongoing concerns about control of strategic natural resources, future land-use flexibility, and the growing role of overseas financial institutions in New Zealand’s forestry estate.

Foreign Consortium Wins Consent For Waikeria Prison Expansion Project

Cornerstone Infrastructure Partners Group (Spain 38%, Netherlands 30%, Japan 30%, United States 2%) and a newly established special purpose vehicle (SPV2) have been granted consent to acquire a 21-year leasehold interest over approximately 26.5 hectares of land at Waikeria, near Otorohanga, and to acquire significant business assets associated with the next stage of the Waikeria Prison expansion project. The vendor was the King (acting by and through the Chief Executive of the Department of Corrections, New Zealand 100%).

The consortium is backed by international infrastructure investors including Pacific Partnerships, Japan’s Sojitz Corporation, and Dutch pension fund interests. The group previously financed, designed, and constructed the new Waikeria Prison facility completed in 2025. Under the new consent, the investors will undertake a further expansion involving three accommodation buildings, an additional court audiovisual suite, a new perimeter wall, and supporting infrastructure. The project forms part of New Zealand’s ongoing use of public-private partnership (PPP) models to deliver major correctional infrastructure.

Overseas capital can help fund large public infrastructure projects while transferring construction and financing risks away from the Government. However, it has long been questioned whether the increasing involvement of overseas investors in essential public assets and services ultimately reduces public control and creates long-term financial obligations for taxpayers. The Decision also reflects the continued role of foreign institutional investors in New Zealand’s correctional infrastructure sector.

Chinese Investor Acquires 21 Auckland Homes For Large Rental Development

Firstmiznz Limited Partnership (China 100%) has been granted consent to acquire 21 residential dwellings at the Limeburner’s Bay development in Hobsonville, Auckland, for $16.5 million. The properties are located on approximately 0.17 hectares of residential land at 4 Scott Road and will be operated as a large-scale rental housing development. The vendor was Aedifice Development Limited. The applicant, ultimately owned by two Chinese citizens, has committed to making all dwellings available as rental accommodation for third-party tenants.

The consent was granted under the Overseas Investment Act’s large rental development pathway, which allows overseas investors to acquire residential property where it increases the supply of rental housing. While institutional rental developments can contribute to housing availability and provide professionally managed rental accommodation this however highlights the ongoing role of overseas capital in New Zealand’s housing market, raising wider questions about foreign ownership of residential assets and the balance between attracting investment and maintaining local control of housing stock.