KEY POINTS:
Central North Island hunting and fishing lodge Poronui Station has been sold to an American company, but with public access benefits for New Zealanders.
The luxury lodge, near Taupo, was already American-owned, but the new sale had to go through the Overseas Investment Commission (OIC) - and with that came the increased public access for tramping and fishing, which has been welcomed by Fish & Game New Zealand.
Finance Minister Michael Cullen and Land Information Minister David Parker announced the sale yesterday, but no price was released. Before it went to the OIC, the sale price was reported as $35 million, a significant gain on the $9.5 million paid for it 1998 by the San Francisco-based Blake family.
The new owner is Westervelt Sporting Lodges, a subsidiary of Westervelt Realty, which is part of the Gulf States Paper Corporation.
The 6500-hectare property borders the Kaimanawa Forest Park. It offers guided trout fishing, sika deer hunting and eco-tourist activities including nature trails, mountain biking, horse trekking and hiking. Its main activities are farming and forestry.
Dr Cullen said while the station remained overseas-owned, the Government had used the sale process to make important riverbeds publicly owned and to ensure permanent legal walking access to the rivers and through the station for all New Zealanders.
"Because Poronui Station is a site with special environmental values, the potential purchaser of this property had to undergo a rigorous screening process as required by the Overseas Investment Act 2005. The act is designed to recognise that it is a privilege for overseas investors to own or control sensitive New Zealand land," he said. "We are satisfied that the investment proposal by Westervelt Sporting Lodges meets all the legal requirements. The new terms agreed for public access and conservation are a big improvement on the status quo."
Dr Cullen said Westervelt planned to expand the lodge's hunting business and market the lodge more aggressively overseas, which would help New Zealand's tourism profile.
Fish & Game New Zealand chief executive Bryce Johnson said the station was the centre of public access controversy for many years, which was a significant factor in the inclusion of habitat, conservation and public access provisions in the new OIC Act (2005).
"The new owners are to be complimented for embracing the spirit of the new legislation and negotiating openly with Fish & Game New Zealand. Through goodwill and a commitment to a positive outcome from all parties, including the Crown, we now have free and practical public access to renowned trout fishing in the Taharua and Mohaka Rivers."
Mr Johnson said the decision created a great precedent for the implementation of the new act.
"However, the new irony is that Kiwi anglers and hunters are now better served when sensitive land with special values is sold to overseas buyers than when it is sold to New Zealanders, where there is currently no obligation to consider habitat protection or public access issues."
- NZPA
