Billionaires already here for forestry

Wednesday 6 May 2020

Austrian investor given approval to buy a $5m sheep and beef farm in Hawke's Bay - Austrian billionaire Wolfgang Leitner has sunk another $5 million of his vast fortune into land to expand forestry in Hawke's Bay, this time buying a sheep and beef farm at Tangoio, north of Napier. Application details indicate plans to plant 640 hectares in forest.

In 2019 Leitner applied for consent under the special forestry test to buy Ponui Station, which includes 14 hectares of commercial forestry and just over 700 hectares grazed by sheep and beef stock. His application Was been given permission by the Overseas Investment Office (OIO) for an $8 million purchase of land near Wairoa under a rule that fast-tracks forestry deals.

He also acquisition a freehold interest in 489 hectares of land at 633 Waimaha Road, Tahunga, Gisborne. According to Forbes, Leitner's fortune is worth US$1.5 billion (NZ$2.4 billion). He is the CEO of one of Austria's largest companies, plant and equipment manufacturer Andritz.

For details of his recent deals see below:

Tongaio property

Ponui Station

Gisborne property

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