A British forestry investor has paid $7.7 million for nearly 370ha of land in Northern Southland.
Toitū Te Whenua Land Information New Zealand approved a consent for NZ Forestry Partnership LP to buy 368.4767ha of land at 1285 Dipton Castlerock Rd, Castlerock.
The decision states NZ Forestry Partnership LP was a new forestry investor in New Zealand, which was owned by a trust of whom the beneficiaries were two United Kingdom citizens.
The land was mostly planted in pinus radiata between 2 and 3 years old.
Twenty hectares of the land are to be planted this year.