Tasman District Council’s Howard Forest and the neighbouring Porika Block have been sold, returning a combined $6.085 million and supporting the council’s long-term investment strategy.
The 955ha Howard Forest and smaller Porika Block, located off SH63 between Kawatiri Junction and St Arnaud, were placed on the market earlier this year. The sale process was managed by specialist forestry real estate company Arotahi Agribusiness and attracted strong interest from buyers.
Several offers were received, including bids for the combined blocks and separate bids for the Porika Block. The successful purchaser of Howard Forest was Ingka Investments Forest Assets NZ Limited, part of the Ingka Group, which owns home furnishing retailer IKEA and has extensive forestry holdings across New Zealand.
The Porika Block was purchased by a family with strong historical connections to the land.
Tasman District Council resolved in March 2025 to sell the Howard Forest and invest in the Diversified Resilience Fund, the goal being to diversify risk away from forestry.
Tasman District Council Chief Executive Leonie Rae says the sale is part of the council’s ongoing approach to managing its portfolio of income-producing assets.
“By reducing our exposure to forestry, we are creating a more balanced investment portfolio while continuing to deliver value for ratepayers.”
She says the Council’s Enterprise Team manages a range of assets held within a closed account. Income generated from these investments helps offset rates and contributes to the management of community reserves, including Rabbit Island.
Ms Rae said funds from the sale will be reinvested within the account, strengthening the council’s ability to respond to future challenges.
“Having a diverse investment portfolio provides greater financial flexibility and ensures resources are available if a major event, such as a large-scale natural disaster, affects the region and local markets. This approach helps safeguard community assets and supports the district’s long-term financial resilience.”
Ingka Investments Forestland Acquisition Manager Simon Honour says Tasman District Council has managed Howard Forest well.
"As an intergenerational investor, our core focus is production forestry – growing quality timber for domestic and international markets, including the IKEA supply chain. We’re committed to setting high standards in forest management, supporting healthy ecosystems, being part of the local community and creating lasting value for the many people.”
