OIO grants Austrian buyer third approval

Wednesday 6 Apr 2022

(RNZ) Overseas Investment Office approves Austrian aristocrat's farm purchase for forestry conversion - An Austrian aristocrat has been given approval to buy another farm in Aotearoa and plant pine trees in it.

The latest round of Overseas Investment Office (OIO) consents show Johannes Trauttmansdorff-Weinsberg has been given the green light to purchase the 445 hectare Te Maire Farm near Masterton.

Just over 300 hectares of the farm will be planted in pine trees which will be harvested in 2048, before a second rotation is planted. Described as an experienced forestry investor by the OIO, Trauttmansdorff- Weinsberg purchased three farms in 2019 for conversion to forestry.

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Source: RNZ News



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