Assessing the potential of the whenua

The changing nature of PKW’s approach to business means its land management plan needs rewriting from a whole new perspective.

Previously carried out in 1998, the original land management plan was an ambitious undertaking that demonstrated the foresight and aspirations of the then Committee of Management.

“At the time dairying farming was seen as the catalyst for providing a prosperous future for shareholders, while regaining active control of the whenua. As a result the CoM focused on aquiring land, in order to build up the number of cows and so milk production,” says Richard Buttimore, General Manager Property. “The plan identified and assessed every one of the 326 parcels of corpus whenua, providing a comprehensive record of the fundamentals, assessing each parcel in terms of productivity and desirability for acquisition priority.”

He acknowledges the mahi of Ranald Gordon, a PKW stalwart who was responsible for developing the original plan and is still contributing his wealth of knowledge to the organisation.

“Now we need to repeat the process, but overlay a Te Ara Putanga lens, ensuring the strategic aims and direction of PKW is at the forefront,” continues Richard.

Richard Buttimore General Manager Property

“One of our core strategies is the diversification of the investment portfolio, which means in this case we need to revisit each parcel and look at what purpose it can best support. This may mean the assessment of some land may change – just because it scores low for dairying doesn’t mean it won’t fit another purpose perfectly. We have always regarded corpus whenua as our core asset, revising the land management plan will allow us to investigate how we can best leverage that asset.”

It’s a big job, revisiting and re-evaluating 20,000 hectares of corpus whenua on a new set of principles, but Richard is excited by the prospect.

“There are now so many things to consider such as the Kaitiakitanga Strategy, alternate land use options, PKW’s response to climate change, our desire to be a bestin-class investor and nurture innovation. The cultural significance of a particular piece of whenua is also an important factor in deciding how a piece of land should be used and cared for,” he explains.

Initially each parcel of land will be assessed using a classification matrix, giving a snapshot of the potential it may offer. It will then be evaluated against a short to medium term 10-year-plan to ensure the final management approach can provide flexibility and adaptability for the long-term.

“This review will help explore the full potential of our whenua, in alignment with the strategic aims and core values PKW holds as an Incorporation and a business,” says Richard.

A draft of the new land management plan is expected to have been completed by the end of the year.