Supplementary Forest Acquisition

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www.nzrlc.co.nz
28 April 2023
Supplementary Forest Acquisition
New Zealand Rural Land Company (NZL.NZX) has today settled an agreement to acquire a further forestry property
located in the Manawatū-Whanganui region in the North Island for a total purchase cost of approximately $8 million.
This forest has a total area of approximately 737 hectares and, as with the large forest estate acquired two weeks
ago, this forest is now leased to New Zealand Forest Leasing (NZFL) for a period of 16 years and has year one
income of $640,000, this is linked to annual CPI-linked rental adjustments. The forest will use a Pinus Radiata Crop
for Timber and/or carbon sequestration .
This concludes NZL’s current forestry estate acquisition. These forest acquisitions have successfully diversified NZL
from solely owning pastoral farm land and, as set out in the investment presentation released to market on 1 March
2023, are expected to be earnings accretive to NZL.
For further information please contact:
Richard Milsom - Director, NZRLM or
Mobile: 021 274 2476
Email: richard@nzrlm.co.nz
Christopher Swasbrook - Director, NZRLC
Mobile: 021 928 262
Email: chris@nzrlc.co.nz