A 450-hectare beef and dairy farm near Paparoa has been sold to a Swiss forestry company for just over $7 million.
An Overseas Investment Office (OIO) report shows approval was given in June last year to sell the property at 20 Taylor Rd, about 26 kilometres from Paparoa and 30km from Maungaturoto, to Kauri Forestry LP.
Kauri Forestry is a limited partnership which is 93 per cent Swiss-owned and 7 per cent German.
The vendor was given as Martinvale Farms Ltd and the sale price as $7,140,000.
According to the OIO, Kauri Forestry intended to plant about 145ha as a commercial forest.