6 February 2012
The Overseas Investment Office (OIO) is expected to announce shortly whether an unnamed foreign buyer can purchase more than 2000 hectares of eastern Taranaki farmland in a deal that locals fear will destroy their community. An application for approval to buy four beef and sheep farms for conversion to forestry in the Whangamomona-Tahora area was lodged with the office in the middle of last year.Colin Couchman, of Shamrock Station at Kohuratahi, is expecting the purchase to go ahead despite offers on at least two of the farms from neighbouring farmers. He said he wanted to buy one of the farms and employ people to run it but his offer could not compete with that made by the foreign investor.
"I haven't got a problem with overseas investors. I have got a problem with them changing the land use. We are a very small community out here. If you let four properties go to pine we lose four families and you need everyone here working just to keep the community going."
It is understood the investor is European, possibly Austrian, but little else is known about him.
Rob Webster, of NZ Forestry Ltd, is acting as an agent for the investor and said the deal would go through as soon as OIO gave approval.
"I think it will be a great thing for the area, a good economic stimulus," he said. "Some of the fears you get are unfounded. This guy in particular is motivated to be part of the community, get involved in things like the Republic Day."
He said his client planned to plant 2000 hectares in pine trees and other species over a number of years, with pastoral farming continuing on the properties in the meantime.
Taranaki Federated Farmers told the Taranaki Daily News that the withdrawal of stock from the farms would reduce spending in the area by as much as $100 per animal.
Source: Stuff website. Story by Matt Rilkoff, Taranaki Daily News. To read the full story, click here.