03-05-2023, 03:46 PM
https://www.odt.co.nz/business/ikea%E2%8...a-forestry
"The applicants were owned by Ingka Investments B.V., the investment arm of Ingka Group, one of 12 different groups of companies that own the Swedish furniture and homeware giant.
In a statement, the company stressed the property — like its other two New Zealand acquisitions — would be planted in plantation forestry, not used for carbon farming.
Last year, it got consent to buy 5500ha sheep and beef station Wisp Hill in the Owaka Valley and it acquired the 610ha Old Hill Rd property in Central Hawke’s Bay in April.
The summary said the company intended establishing and maintaining plantation forest — predominantly radiata pine — over parts of the land at Koneburn assessed as being best suited to forestry.
It estimated new planting of about 977ha of the land which was best suited to planting after allowing for infrastructure (4.9ha), native plantings (52.5ha), unplantable (43.3ha) and various setbacks (31.3ha).
It proposed to subdivide and sell about 9ha, including a house and three sheds."
I can't say I'm happy about too much foreign ownership; imo there should perhaps be a limit of say 40% of any property which anyone non Kiwi can own. Of course, if they want to become a Kiwi then they're welcome to own an entire business or property.
"The applicants were owned by Ingka Investments B.V., the investment arm of Ingka Group, one of 12 different groups of companies that own the Swedish furniture and homeware giant.
In a statement, the company stressed the property — like its other two New Zealand acquisitions — would be planted in plantation forestry, not used for carbon farming.
Last year, it got consent to buy 5500ha sheep and beef station Wisp Hill in the Owaka Valley and it acquired the 610ha Old Hill Rd property in Central Hawke’s Bay in April.
The summary said the company intended establishing and maintaining plantation forest — predominantly radiata pine — over parts of the land at Koneburn assessed as being best suited to forestry.
It estimated new planting of about 977ha of the land which was best suited to planting after allowing for infrastructure (4.9ha), native plantings (52.5ha), unplantable (43.3ha) and various setbacks (31.3ha).
It proposed to subdivide and sell about 9ha, including a house and three sheds."
I can't say I'm happy about too much foreign ownership; imo there should perhaps be a limit of say 40% of any property which anyone non Kiwi can own. Of course, if they want to become a Kiwi then they're welcome to own an entire business or property.
in order to be old & wise, you must first be young & stupid. (I'm still working on that.)