Property Express Autumn 2018

“Springers”, St Arnaud Quality 500 Hectare Dry Stock Farm (see feature story for details on this property)

AUTUMN 2018 | www.pggwre.co.nz

Welcome Intense competition for top-end rural properties expected in autumn

Autumn will feature keen interest in some high-profile listings as buyers compete for a selection of prestigious farms and orchards.

Summer’s rural property market began strongly, with considerable activity in November and December. Plenty of farms went unconditional in the Northland and Southland regions at the end of 2017. In the dairy sector, pre-Christmas action was clustered around the top end-Waikato districts, where transactions ranged from $65,000 to $95,000 per hectare, slightly firm on the values that had previously prevailed.

Demand for sheep and beef farms has been strong for months. Confidence is high, reflected in the number of less sought after North Island dairy farm listings under consideration by sheep and beef farmers contemplating decommissioning the cowsheds. Weather conditions, although challenging in some regions, have generally been excellent for pastoral production, and export returns are playing a positive part. Hindering the market for sheep and beef properties, however, is the shortage of listings. Farmers are reckoning the good times will continue, and they see greater opportunities to capitalise on that by farming on, than by cashing in.

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Viticulture and horticulture properties, particularly kiwifruit orchards, also remain in heavy demand. This season’s kiwifruit property market started spectacularly with a series of gold kiwifruit orchards selling between $1.05 million and $1.076 million per canopy hectare.

While there were no further sales at this level during the summer, that was due to the lack of listings rather than exhaustion of demand, which remains at acute levels. As in the sheep and beef sector, growers and investors are anxious to buy, though reluctant to sell when returns are so good, hence less activity than purchasers seek.

One Bay of Plenty transaction in process puts that in perspective. This is a dairy farm with around 60 per cent of its area able to be planted in kiwifruit. While it is currently worth approximately $45,000 per hectare as a fully developed mid-level dairy block with a solid production record, its value for kiwifruit, even simply as bare land (before any development, planting, infrastructure or production) rates more than double that, at $100,000 per hectare.

New Zealand’s leading rural real estate company

Dry stock farmers and kiwifruit growers considering listing property can expect a warm reception from an under-supplied autumn market populated by a gallery of purchasers who are keen to invest.

Demand for pipfruit and stonefruit orchards is also strong, though likewise, property market activity is hampered by the limited listings available and the lack of anywhere suitable for vendors to move on to after they sell, which most at present are inclined to do rather than exit the sector.

Undoubtedly, there are some significant issues in the rural sector, including banks reducing their exposure to agriculture and rural property, uncertainty around the impact of the government’s changes to the overseas investment guidelines, and water quality issues, which are all creating grounds for disagreement on land values between buyers and sellers. These factors will all work their way through the system, however, the

Our Offices For specialist knowledge on buying and selling real estate throughout New Zealand, contact your local PGG Wrightson Real Estate branch.

North Island

South Island

Kerikeri Whangarei Dargaville Wellsford Pukekohe Hamilton Matamata Te Kuiti Thames Morrinsville Cambridge Te Awamutu Putaruru Tauranga Rotorua Waihi Katikati Te Puke Whakatane Taupo Hastings Gisborne Waipukurau Wairoa Feilding Whanganui Levin Taihape Marton Hawera Dannevirke Masterton

Nelson Blenheim Greymouth Rangiora Christchurch Ashburton Timaru Geraldine Fairlie Oamaru Cromwell Alexandra Dunedin Mosgiel Balclutha Te Anau Gore Invercargill

09 407 4832 09 470 2522 09 439 3342 09 423 9712 09 237 2014 07 858 5338 07 888 4572 07 878 0265 07 867 9582 07 889 0171 07 823 0647 07 870 6219 07 882 1485 07 571 5795 07 349 5486 07 863 6589 07 571 5795 07 573 0243 07 349 5486 07 377 8928 06 878 3156 06 838 8059 06 858 6073 06 838 8059 06 323 0076 06 349 2000 06 367 0820 06 323 0076 06 323 0076 06 349 2000 06 374 4630 06 370 1866

03 543 8590 03 578 3019 03 768 1222 03 313 0610 03 341 4301 03 307 8700 03 687 7330 03 687 7330 03 685 9092 03 433 1340 03 445 3735 03 440 2380 03 470 0317 03 470 0317 03 418 1381 03 249 8611 03 209 0300 03 211 3130

Northland Bay of Plenty/South Waikato/Central Plateau Waikato

Hawke’s Bay/ Manawatu/Wairarapa

Nelson/Marlborough Canterbury/West Coast

Mid/South Canterbury

North Otago

Otago/Central Otago

PGG Wrightson Real Estate office locations (store placement and regional lines are an indication only - map details are not to scale) PGG Wrightson Real Estate sub-offices

Southland

Our Company PGG Wrightson Real Estate is one of New Zealand’s largest single full-service real estate companies and is well-placed to offer exceptional specialist service throughout the nation. With 37 offices nationwide and a network of over 160 salespeople, our rural specialists span the country, ready to work together with you to exceed your best outcome.

As an organisation, our mission is to help grow the country – helping farmers to become successful. Ultimately, our ability to do this comes down to the products and services that we provide and, in particular, the capability and integrity of our people. While we are a big company, we value the importance of the local touch and encourage our people to bring fresh thinking to “go the extra mile” to help our clients succeed.

An outstanding brand The PGG Wrightson Real Estate brand stands out from all the others – signifying trust, integrity and remarkable results.

A network that really works When you deal with us, you are dealing with one company and one team, not a

group of franchised operators and offices.

This means you get access to our national network, with salespeople covering the entire country, who really do work together to achieve the best possible outcome for you.

Specialist knowledge and world-class service Our experienced, specialist staff will go out of their way to ensure your property objectives are met, delivering the very best service for your entire real estate experience, whether your property choice is urban, lifestyle or rural.

People focused Our clients and our staff mean everything to us. This is our company’s hallmark and we are proud of it. Our clients are the

core, the heart of our business, and the very reason for our success. Our staff are among the best and most accomplished in the real estate industry. Together, they have made us who we are today and we recognise their importance in every aspect of our business.

Unbeatable track record We aim to be the best in what we do and we have been focused on achieving this since our business was founded almost 170 years ago. Added to this is a genuine desire to make the process of buying and selling property an exciting and seamless experience for everyone.

Connecting people with property

Helping grow the country

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Significant sales SOLD

SOLD

SOLD

SOLD

Mangawhai 74.06ha

Titoki 222.43ha

Rangiriri 289.69ha

Paengaroa 5.917ha

Scott Tapp

Mel Currin

Adrian van Mil & Mark Needham

Stan Robb

This Northland dairy farm, located 5km from Mangawhai Village, which produces 80,000kg milksolids from 250 cows, was sold in September to purchasers who intend to convert the land to a grazing block.

This dairy farm, located in Mangakahia Valley north-west of Whangarei, was settled in January with the purchaser returning to the area where raised as a child.

Located west of Rangiriri, this property, including four titles, specialises in finishing prime Angus beef. Sold in January, the buyer is on a neighbouring section and intends to expand their farming operations.

This Bay of Plenty kiwifruit property, comprising 5.06 canopy hectares of G3 SunGold, sold in November to an existing orchardist.

SOLD

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SOLD

SOLD

SOLD

Paengaroa 8.604ha

Paengaroa 7.034ha

Arohena 413.81ha

Maraekakaho 848.38ha

Stan & Chris Robb

Stan & Chris Robb

Peter Wylie

Doug Smith & Paul Harper

This Western Bay of Plenty kiwifruit property has 5.58 canopy hectares of G3 SunGold. It was sold in October to an existing orchardist.

This Western Bay of Plenty orchard, sold in November, has 6.75 canopy hectares of G3 SunGold kiwifruit and is located in Paengaroa.

The property was sold to an existing orchardist.

This premier Waikato cattle grazing and supplement-making property located in Arohena was sold in December to a neighbour to support existing dairy operations.

Olrig, one of Hawke’s Bay’s landmark stations, is an easy contoured property used primarily to winter stock. Its sale is the first time Olrig has been to the market since 1859, with the buyer returning to the Hawke’s Bay from Auckland.

New Zealands leading rural real estate company

The following is a sneak peek into the past few months’ successful sales from our top regions nationwide. If you are after local knowledge, experience and the best outcome, contact our real estate specialists today to get your property listed and sold!

Date Range: 26 September 2017 - 19 February 2018

SOLD

SOLD

SOLD

SOLD

Okaramio 234.107ha

Fairhall 8.16ha

Ohoka 114.13ha

Seadown 32ha

Greg Lyons & Joe Blakiston

Ken McLeod

Peter Crean

Jamie McKenzie

With a stunning four-bedroom homestead, this ideal finishing unit is located 25km from sunny Blenheim. The property was sold in December to buyers who are planning to build a Land Rover museum on the site.

This Marlborough vineyard, with its clay-based soils, is renowned for producing top Pinot Noir wine.

Planted in 4.13 ha of Pinot Noir and 0.85 ha Sauvignon Blanc, the property was sold in January to existing vineyard owners.

Situated in North Canterbury, this cattle-finishing unit in 10 titles was sold in August to a local purchaser with plans to finish cattle and grow specialist crops.

This South Canterbury irrigated farmland was sold for the first time since 1920 in November to neighbours who are planning to extend their dairy operation.

SOLD

SOLD

SOLD

SOLD

Cave 129.74ha

Arthur’s Pass 6570.86ha

Wendon 250.55ha

Hunter Doig

Sam Davidson

Bill McDonald & Darrell Duncan

Andrew Patterson & Todd Anderson

Stituated west of Timaru, this property sold in November, having not been on the market since 1917.

The property produces arable and feed crops and was sold to third generation farmers from the same area.

Craigieburn Station, a substantial landholding, perpetually leased by the University of Canterbury, was sold in October to a Canterbury family who will run the property in conjunction with their other farms.

This Southland finishing property offers multiple farming options with 187ha of gentle rolling paddocks with good soils and 63ha of hill country.

Purchased by a local who wants to extend their operations.

Situated in Southland, this established, flat-contour dairy run-off, wintering up to 1,500 cows, was sold in October to a local dairy operation.

Mossburn 180.01ha

Helping grow the country

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Decision on foreign farm ownership will re-energise the market says rural leader, Peter Newbold When the new government was sworn in last year, one of its first priorities was to tighten policy around foreign ownership of New Zealand property.

Prior to the election, this issue was the focus of some doubt, creating a gap between buyers and sellers on the perceived value of certain farms.

In real estate, perception is important, and removing foreign investment inevitably placed pressure on values.

How it will play out now in the market depends on how the Overseas Investment Office (OIO) applies the amended rules.

Sales are pending where these new guidelines will come into force. However, as we are still waiting for approvals, we do not yet know whether there will be an adjustment in values based on those decisions. Even where the purchaser is not from overseas, buyers and sellers of similar properties are reluctant to commit while that uncertainty prevails.

However, this should be resolved once the OIO starts to announce decisions under the new guidelines. To have foreign

investment taken out of the equation, even if only temporarily, has altered perceptions on values. They should come back into line once the true picture is revealed and understood.

When perceptions on value are aligned again, farmland will change hands at the normal frequency. This should recommence once the OIO starts to announce decisions.

Only a minimal proportion of farm transactions involve foreign ownership.

Our sales account for around one-third of the market. Of the approximately 1000 rural and farm sales PGG Wrightson Real Estate processes nationwide in an average year, the number involving nonNew Zealand residents or corporations is statistically insignificant. Typically, in any given year, this figure is between one and two per cent of all rural property sales.

For the vast majority of farm sales, buyers are local. When our salespeople are engaged to market a farm, and looking out for suitable buyers, the first option is always to foster ‘through the fence’ relationships. A neighbour, or someone else nearby, is invariably the most likely purchaser of a farm. These overseas investment changes are not going to affect that in any way, and will only come into consideration for a handful of sales each year.

Logically, what that will mean is that these changes will make no appreciable difference to the value of rural property transactions. However, only when the market witnesses that, and becomes comfortable with it, will the number of sales begin to rise again.

“The number of sales involving non-New Zealand residents or corporations is statistically insignificant”.

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New Zealand’s leading rural real estate company

North Island Notable recent North Island sales include: A prime 289 hectare beef finishing unit at Rangiriri, Huntly, sold in November to a local purchaser at a value reflecting the excellent quality of the farm.

A 252 hectare Te Kuiti grazing property sold at auction in early December for $3.5 million, purchased by a neighbour to extend the family sheep and beef farm to around 800 hectares.

In November, a 211 hectare Moutoa, Horowhenua, sheep and beef finishing property sold following a tender process for $9.8 million.

Allandale, a 393 hectare Greytown, Wairarapa, grazing property, sold as two blocks in late November, each at approximately $26,000 per hectare.

Helping grow the country

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Waipu farm for sale after 164 years After 164 years and four generations, the last remaining farming member of the McLean family is moving on from Waipu.

Having started their association with the district in 1853, when John and Dolina McLean, originally from near Loch Ness in Scotland, brought their large family to Waipu via a period in Nova Scotia, the couple’s great-great-grandson, Warren, has now listed the 159 hectare family farm, Waihoihoi, for sale.

As Warren explains, the family broke in the land, which was originally known as Birdgrove.

“John and Dolina had about a dozen children. To make a living, they had to bring the land into production, which they mostly did by hand, also using horses where they could, though on steeper country, that was impossible.

They were known as hard workers, and they managed to tame the country,” he said.

While a large family provided a ready source of labour, it also meant the Birdgrove McLeans needed to keep growing the farm.

“When the sons married, they were each given a bit of land with a new house built on it,” says Warren.

Initially dairy farming, Warren’s father sold the milking cows and took the farm into sheep and beef.

“My grandfather, Danny McLean, died relatively young. My father, Murdoch, was therefore young when he took over, which meant he could keep the farm going, doing it his own way, though the women were strong as well. I remember my grandmother. She was always growling. She was a McKenzie, and her mother was a Macauley, so there is plenty of Scots blood in us,” he says.

During Murdoch’s era, the family farm was extended to the hillier country of the Brynderwyns.

“Dad employed about half a dozen others to break in that country during the 1940s and 50s. They had to do it the hard way, using axes and slashers. That

10 New Zealand’s leading rural real estate company

was when aerial topdressing started to come in, which is what kept them going.

If you didn’t have fertiliser to put on, all that work to cut down the bush and establish pasture was money down the drain,” says Warren.

During his own era as Waihoihoi’s custodian, beginning in the 1960s, Warren has always focused on purchasing well-bred stock, therefore establishing a reputation of supplying top-quality livestock to the market.

With the remaining members of the Birdgrove McLean family now city people, and Warren now in his late 70s, his logical option is to sell Waihoihoi, which he has engaged Scott Tapp of PGG

For more information, see page 12.

Contact Scott Tapp on 021 418 161 or go to www.pggwre.co.nz/WEL27508

Wrightson Real Estate, Wellsford, to do.

“Waihoihoi is an historic finishing unit on flat to easy rolling contour, with spectacular pockets of native bush and water year-round from the creek. It is centrally raced and subdivided into 32 paddocks with excellent fences, and a soundly renovated homestead originally built in 1900. Its location, at the foot of the Brynderwyns, 44 kilometres south of Whangarei and 114 kilometres north of Auckland, will ensure plenty of interest in this well-regarded property,” he said.

Warren plans to move seven kilometres north, into Waipu township, where he has a house being built, though he doesn’t expect to stay away from the cattle industry.

“That’s what my life has been around.

I will still go to sales. I know plenty of people I’ve bought cattle from over the years, through most of the North Island.

You need to keep an interest, and it will be hard to leave it alone,” he says.

Helping grow the country 11

Waipu, Northland

Desirable Historic Finishing Block

Deadline Private Treaty

159.156ha of flat to rolling contour, impressive sea and Whangarei Heads views.

Impressive yards with hydraulic crush, reliable water and raced for access and excellent fencing throughout. Offered to the market for the first time in over 160 years is this highly recognisable finishing block located near the popular historic village of Waipu.

This magnificent north facing property is renowned for finishing large well-bred livestock year after year. The century old villa has been well maintained and renovated with attractive mature gardens. Properties like this are often sort, but rarely found.

Plus GST (if any) (Unless Sold Prior) Closes 3.00pm, Thursday 12 April

Scott Tapp B 09 423 9717 | M 021 418 161 | H 09 425 8161

12 New Zealand's leading rural real estate company

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www.pggwre.co.nz/WEL27508

Riponui, Northland

Dairy Farm Opportunity in Great Location

$1.7M

• Approximately 110ha of effective pasture with the fertiliser history available • 60% easy rolling, 20% medium country, remaining 20% of steeper contour • 16 ASHB dairy shed. Sufficient supporting infrastructure • 2016/17 production 65,503kg MS, 2017/18 production 45,596kg MS at end of Dec • Two good three bedroom homes

Plus GST (if any)

Mel Currin

Dennis Wallace

B 09 470 2522 | M 021 134 6472

B 09 470 2522 | M 022 312 7704

www.pggwre.co.nz/WHG27667

Towai, Northland

Opportunity to Purchase Near Towai

$1.5M

• Approximately 90ha of effective pasture with fertiliser history available • 95% easy rolling. One year old, 20 ASHB dairy shed • Production figures from Fonterra show approx 40,000kg MS • Good older three bedroom, two bathroom home • Hay shed, good yards, implement shed by house

Plus GST (if any)

Mel Currin

Dennis Wallace

B 09 470 2522 | M 021 134 6472

B 09 470 2522 | M 022 312 7704

www.pggwre.co.nz/WHG27665

Helping grow the country 13

Waipu, Northland

Ultimate Private Retreat

$950,000

A rare chance has come along for somebody to buy this 45.3ha block in a fantastic location. Situated within 6km of the Waipu township. The property is sub dividable so has more than one option for future planning. With at least two good house sites, rural and ocean views including hen and chicks. Situated back off the road down your own private driveway, so safe for the animals and children.

Plus GST (if any)

www.pggwre.co.nz/WHG27732

Karen Griffiths M 027 246 0430

Lifestyle Collection

Just Released Check out this stunning property for sale in Pahoia, Bay of Plenty, alongside a selection of other lifestyle properties.

Pick up a copy of the Lifestyle Collection at your local PGG Wrightson store today or go online to view: www.pggwre.co.nz/lifestyle-collection

14 New Zealand's leading rural real estate company

End of an era at Pahoia A lifetime of adventures that span the world (see feature story for details on this property)

AU T U M N 2018 | www.pggwre.co.nz/lifestyle-collection

Ruawai, Northland

Dairy Farming Opportunity in Ruawai

Sale By Deadline

This desirable property provides options. 111.95 hectares all flat contour with fertiliser history available. 22 ASHB dairy shed with yard to hold 300 cows. Production averages of 102,016kg MS over the last three years. Good five bedroom home with two bathrooms and a separate rumpus. Sufficient supporting infrastructure to manage the farm. Good water supply, pressure pumped around the farm from a bore.

Very handy to both Ruawai and Dargaville with Whangarei CBD only 78km away.

Plus GST (if any) (Unless Sold Prior) Closes 2.00pm, Friday 18 May

Ron Grbin

Dennis Wallace

B 09 439 3354 | M 027 471 6388

B 09 470 2522 | M 022 312 7704

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www.pggwre.co.nz/DAG27747

Helping grow the country 15

Helensville, Auckland

Secure Investment on Town Boundary 116.65ha of almost all laser drained river flats. 36 ASHB dairy shed, large plant, 500sqm yard. Very nice four bedroom home with separate living areas. Excellent deep water bore, good race network. Best production of 117,000kg MS, three year average of 107,637kg MS. This consistently high performing dairy unit is literally located on the Helensville town boundary. Palm Kernel has never been on this impressive unit, with a small amount of Maize silage grown off farm to go with the balance grown on farm for pasture renovation. Going concern option with livestock at valuation, preferred option.

Scott Tapp B 09 423 9717 | M 021 418 161 | H 09 425 8161

16 New Zealand's leading rural real estate company

$5.295M (Land and Buildings Only) Plus GST (if any) 4

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www.pggwre.co.nz/WEL27754

Helensville, Auckland

Tidy Dairy Unit in Great Location

Tender

85.52ha of predominantly easy contour. 22 ASHB cowshed, recently upgraded. Well fenced and raced throughout. Excellent reliable bore water supply, multiple ponds and wetlands. Very tidy main home, recently renovated internally. Located around 60km from Auckland's CBD and situated adjacent to the popular South Head Golf Course this property gives the ultimate rural/urban balance. Vendor health has meant this property is genuinely offered to the market, with plenty of potential left to either increase dairy production or run a successful grazing block in a highly sort after location.

Plus GST (if any) (Unless Sold By Private Treaty) Closes 3.00pm, Thursday 5 April PGG Wrightson Real Estate, 2 Port Albert Rd, Wellsford 3

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www.pggwre.co.nz/WEL27588

Scott Tapp B 09 423 9717 | M 021 418 161 | H 09 425 8161

Helping grow the country 17

Waikaretu, Franklin

Coastal Farm Opportunity

Price by Negotiation

Imagine driving up your tree lined driveway and right through your 162ha property down to your very own West Coast beach access. This picturesque property has 1.5km beach frontage with which you can play on. Snapper can be caught just off the beach.

Current owners have a camp site and an area for launching the boat.

Contour of the farm is flat to rolling with some steeper sidlings that are mainly in rye and clover. Currently used as a finishing block but possibility of other ventures such as horse trekking or other forms of tourism are only limited by your imagination.

Plus GST (if any)

Adrian van Mil B 09 237 2041 | M 027 473 3632

18 New Zealand's leading rural real estate company

www.pggwre.co.nz/PUK27629

Waitetuna, Raglan

A Property to be Proud of 255 hectares just 35km from the centre of Hamilton and 26km to Raglan Impressive four bedroom Australian bungalow extensively refurbished Four stand woolshed with covered cattle yards, four bay implement shed / workshop 12.5ha of 16-19 year old pines, some blackwoods, macrocarpas and gums Very versatile property fenced into 80 paddocks with reticulated water in all but one Productive commercial brown rock quarry creating another income stream

Auction (Unless Sold Prior) 11.00am, Wednesday, 28 March PGG Wrightson Real Estate Ltd, 87 Duke St, Cambridge 4

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www.pggwre.co.nz/HAM27719

Richard Thomson

John Sisley

B 07 858 5325 | M 027 294 8625

B 07 858 5302 | M 027 475 9808

Helping grow the country 19

Puniwhakau, Stratford

Secure Your Future Manuka Supply

$3.2M

• 776ha more or less, of mixed contour, Manuka throughout • Farm has been running cattle and 200 hives • Manuka regeneration on farm, numerous hive sites • Contour goes from flat to rolling up to steeper hills • Three bedroom home, five bay shed • Good security, abundant water • This farm has size and huge potential

Plus GST (if any)

Peter Wylie B 07 878 0265 | M 027 473 5855 | H 0800 735 578

20 New Zealand's leading rural real estate company

www.pggwre.co.nz/TEK27317

Ninety years and three generations later, Putauaki tenure ending for Lambert family In 1928, Eric and Mabel Lambert shifted from Wellington to Putauaki, beneath Mt Edgecumbe, a journey of over 500 kilometres. A short time before they left the capital city behind, a polio epidemic had taken one of their sons. Eric had been an accountant for a local timber merchant, though he also supplied town milk. Dairy brought them north.

“When they arrived, the whole farm was in manuka and swamp. They brought 10 cows with them. On one side, the neighbour’s development was a bit further ahead, though the fences weren’t, and the neighbour’s cows would walk in to graze happily on our farm,” says the couple’s grandson, Eddie Lambert.

“Mabel was a city girl from Wellington, and the story goes that grandad came up first, then grandma followed, coming on the train most of the way, then the last stretch by horse and cart. With the land being just swamp, the cart fell into a mud hole, and Mabel’s best china broke before she even arrived, then they dumped all her possessions on the lawn of the little cottage. It was a very challenging time for her,” says Eddie.

Clearing the land was a huge hurdle, and still not totally finished, even today.

“In those days, it was all done with a horse and cart, and dray. We still have some native logs under the surface, where the stumps weren’t taken out once it was drained. My grandparents had to carry on dynamiting the stumps out of the ground.

As a boy, I remember finding detonators in the workshop and about the farm. It was a thrill to find them, of course, as children weren’t supposed to have them,” he says.

Eddie’s parents, Roy and Nan, married in 1948 and, when Eric died in 1962, they took over the farm.

“Dad was 10 when his parents first came up here. Although he went to school for a couple of years after that, he had to wake up early to milk the cows, then he was strapped for being late to school because of the milking and, after school, he was kicked up the backside for being

late home after having to do detention, so he left school and started working on the farm full-time at age 12,” says Eddie.

Roy and Nan raised seven children on the farm, the youngest being Eddie.

“It was very physical for them and, as they were brought up through the Depression, they were always conservative as farmers.

Farming had to be profitable. You could never borrow money. Only once you made a profit could you buy a new tractor.

They were not reliant on debt.

“They strictly believed in keeping a nice, neat, tidy farm. Weed control on the hill was one of our weekend jobs. There were never any ragwort or thistles. Running an aesthetically pleasing farm was always a major focus,” says Eddie.

Along with his brother, Ken, Eddie went to boarding school in Feilding in the late 1970s.

Helping grow the country 21

“They had huge oak trees there and, in his last year at school, Ken brought home a bag of acorns and planted them. Now, we have 50 large oak trees in the corners of paddocks and gateways, which was the start of our tree-planting regime,” he says.

With their wives, Kath and Debbie, Eddie and brother, Ken, took over the farm from their parents in the early 1980s. Eddie and Kath bought out Ken and Debbie about 10 years later. They reckon they have planted about 20,000 trees on the farm since, including pines, lusitanica, liquidambar, ash and alder.

“Kath went to Fieldays 23 years ago, and visited the New Zealand Forestry

Association site. She entered a draw and won 200 poplar seedlings, which we planted all over the farm, for shelter and shade,” says Eddie.

They have also developed three wetland areas, totalling 10 hectares, including one under a QEII Trust covenant.

“We had help from the Bay of Plenty Regional Council. They provided the material, including the trees, posts and fencing, and gave us a planting plan. We had to do all the work, including planting the trees. One time, a truck turned up with 1700 seedlings three weeks before calving. We thought, ‘How the hell are we going to do this?’ We managed to bring in

22 New Zealand’s leading rural real estate company

some friends and neighbours and made a working bee of it, though it was a huge amount of work,” says Eddie.

They planted pittosporum, kanuka, manuka, smaller natives around the wetlands, and grasses on the edge.

“I’m a bit of a tree-hugging greenie. I love to be able to go up the hill and look down on the wetland. Because they gave us the right trees and a good planting plan, it looks really beautiful. We have plenty of ducks and pheasants on the farm, and a big increase in wetland birds. It has been hard work and, even though it was swampy so not ideal for pasture, we did have to lock up part of the farm. However, all that has been more than worth the effort,” says Eddie.

Recreating the farm’s wetlands has been a love that the couple has shared, while another has been improving the genetics of their much-admired Friesian herd, which has won them acclaim, and contracts from LIC and CRV. “Good cows are always our goal, and we had one really good cow, born in 1998. We were using the BI system then and, when we had the herd tested, we were told ‘You need to come and look at this cow.’ Her sister turned out just as well, so we went on to breed from those two cows, flushing the cows out, collecting the embryos, and breeding from their daughters and progeny. In 20 years, we reckon we have bred well over 100, maybe as many as 150, direct descendants of those two cows,” says Eddie.

After 90 years in the Lambert family, Eddie and Kath have reluctantly decided

to sell. With two daughters and two sons, they reckon it would be impossible to pass on the farm in a way that helps one without disadvantaging the other three.

Succession planning has taken awhile.

“We’ve been talking about it for around eight years. Our children have supported us. They are the ones that are saying, ‘You can’t keep going working as hard as you have. You need to enjoy life,’” says Eddie.

They have engaged Phil Goldsmith of PGG Wrightson Real Estate, Whakatane, to market the property, which has 140 hectares freehold, with 80 hectares of transferable leases, a 24-a-side herringbone dairy shed milking up to 450 cows, and produced 209,000 kilograms of milksolids in 2014/15, supplying Open Country.

“After three generations of the Lambert family farming this property with heartfelt care, the evidence of their expert husbandry and proud attention to detail

is readily apparent. Both the reclaimed wetland areas and the trees they have planted add immense environmental appeal and aesthetic value to a farm that has demonstrated excellent production out of a herd that also shows the meticulously high standards Eddie and Kath adhere to,” says Phil.

As an added feature, the Lambert farm is almost adjacent to the planned multispecies geothermal milk processing plant under development by the Poutama Dairy Group, an enterprise comprising six Māori entities from the Eastern Bay of Plenty.

Eddie and Kath Lambert’s farm is for sale by tender, with offers closing on 29 March.

For more information, see page 25.

Contact Phil Goldsmith on 027 494 1844 or go to www.pggwre.co.nz/WHK27709

Helping grow the country 23

Whakatane District

Irrigated, Shade and Shelter

Tender

Three generations of one family have farmed this property with heart felt care.

• 140ha freehold with 80ha transferable leases • Sound 24 ASHB dairy, milking 450 cows at peak with split calving • Best production 209,000kg MS 2014/2015, supplying Open Country Dairy • Pod irrigation over 80ha, plus 20ha on lease land, from deep well bore on farm • Four homes, two hay barns, implement shed/workshop and silage bunker • Environmentally appealing with shade and shelter from 20,000 trees planted

Plus GST (if any) (Unless Sold By Private Treaty) Closes 4.00pm, Thursday, 29 March

www.pggwre.co.nz/WHK27709

Phil Goldsmith B 07 307 1620 | M 027 494 1844

Helping grow the country 25

Whakamarama, Bay of Plenty

Golden Valley Orchard and Industry

Tender

Golden Valley Orchard is 3.15 canopy hectares of high producing SunGold G3 Kiwifruit.

Two titles. Lovely large farmhouse with four/five bedrooms and three living areas. Three big sheds/industrial park (over 3000m²) with three phase power. The proximity to rail and the main highway are a real bonus here. Initial estimates of 40,000 plus trays will impress the bank manager. This is a low altitude orchard on high fertility land very close to a major packhouse yet accessed from a quiet country lane. Enjoy the magic Bay of Plenty lifestyle halfway between Tauranga and Katikati. Seriously for sale.

(Unless Sold By Private Treaty) Closes 4.00pm, Thursday, 29 March

Andrew Fowler B 07 571 5797 | M 027 275 2244 | H 07 574 8585

26 New Zealand's leading rural real estate company

4

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www.pggwre.co.nz/TAR27685

Katikati, Bay of Plenty

Premium Lifestyle Avos and Views

Tender

Wow what a view! A perfectly situated avocado orchard with rich deep topsoil and an ideal warm aspect. 126 irrigated eight year old trees on 1.2 hectares. An executive four bedroom, three bathroom home has large covered decks. Entertain in style. His and hers garages. Near new 110m² shed boss, three bay colorsteel shed has concrete floor, power and is lockable. Orchard equipment's in top condition. Stunning gardens and a great array of delicious fruit trees. Three road entrances, quiet, country lane and central location. You would be very proud to own this exceptional property.

(Unless Sold By Private Treaty) Closes 4.00pm, Thursday, 29 March 4

3

2

www.pggwre.co.nz/TAR27662

Andrew Fowler B 07 571 5797 | M 027 275 2244 | H 07 574 8585

Helping grow the country 27

Paengaroa, Te Puke

The Bays Finest Gold Orchard

Tender

Situated in what is regarded as New Zealand's top growing area. 5.54 canopy hectares G3 Sungold, fruit count 15,000 tray per hectare, entire orchard covered plus extensive artificial and natural shelter. Computer controlled frost and irrigation system fed from 12 inch consented bore, 245m² approx four bedroom brick home, six years old set on one acre of manicured grounds with panoramic views across property to the Papamoa Hills, approximately two hectares clean grazing. This amazing property will suit the most discerning of purchasers.

Unless Sold by Private Treaty Closes 4pm, Thursday 29 March 7 Jocelyn Street, Te Puke

Stan Robb

Chris Robb

B 07 573 0441 | M 027 473 9322

B 07 573 0441 | M 027 473 0043

28 New Zealand's leading rural real estate company

www.pggwre.co.nz/TEP27776

Opotiki

Vendor Says Sell

$2.2M

• Motivated vendor, wants to retire from dairy farming • Milking platform of 69 hectares • Production average over last three seasons - 64,256kg MS • Milking 200 cows, wintered on farm • 24 ASHB dairy with good standard of improvements

Plus GST (if any) 4

2

www.pggwre.co.nz/WHK26809

Phil Goldsmith B 07 307 1620 | M 027 494 1844

Whakatane District

Fully Irrigated on the Plains

$6.25M

• Total Land Area - 118.3023 Hectares - Five titles • Production average over four years - 138,832kg MS, milking 351 to 361 cows • K-line Pod irrigation over all of the farm • 36 ASHB dairy shed, Waikato milking plant, ACR's • Soils and contour gives great horticulture or lifestyle potential

Plus GST (if any)

www.pggwre.co.nz/WHK27015

Phil Goldsmith B 07 307 1620 | M 027 494 1844

Helping grow the country 29

Galatea, Whakatane District

Graze and Crop

$1.575M

This property is an attractive grazing unit, with a good mix of contour, providing a fantastic vista from the homestead and versatility of land use.

The comfortable five bedroom, five bathroom home is set up for homestays.

Positioned for privacy and seclusion. The home has views that look across the Galatea Valley and over the Rangitaiki River.

Plus GST (if any) 5

5

2

www.pggwre.co.nz/WHK27645

Phil Goldsmith B 07 307 1620 | M 027 494 1844

Galatea, Whakatane District

$23,000/ha - Galatea

$5.888M

• Asking only $23,000 per hectare, total area 256ha easy contour • Excellent sub division in to 64 paddocks • Good water supply, reticulated to all paddocks • Well-formed pumice raceways for easy access • Six bay implement shed with two lock up bays, all improvements to a high standard

Plus GST (if any)

Phil Goldsmith B 07 307 1620 | M 027 494 1844

30 New Zealand's leading rural real estate company

3

2

1

www.pggwre.co.nz/WHK27653

Opotiki

East Coast Apiary Business 1000 hives in two full depth brood supers plus, 2000 honey supers: 1500 3/4 depth, 500 full depth 43 registered apiary sites from Whakatane to Te Araroa Kiwifruit pollination contracts Drummed honey All plant and equipment involved in the business is included Current owner is available to manage the ownership transition

$2.2M Plus GST (if any)

www.pggwre.co.nz/WHK27751

Phil Goldsmith B 07 307 1620 | M 027 494 1844

Helping grow the country 31

Motu, Gisborne

Outstanding Sheep and Cattle Property - 1116 Motu Road

Tender

1078.0067ha (2664 acres). Comprising Waiwhero Station, 531.2389ha (1312 acres) wintering 5500 SU. All clean, flat and hill country, good natural water and strong fertiliser history, 2000mm annual rainfall. Full complement of amenities including homestead, additional house, shearers quarters, woolshed and covered yards, air strip and bin, assorted sheds. The second block comprises `Scotty's', Moutohora Road, Motu.

A run off property approx. 5km from main farm. An area of 546.7678ha (1351 acres) with approx. 170ha in grass, balance in native bush. Both properties to be sold as one.

Plus GST (if any) Closes 4.00pm, Friday, 23 March PGG Wrightson Real Estate, 21 Solander Street, Gisborne

Allan Cameron

John McElhinney

B 06 863 1693 | M 027 488 7973

M 027 902 0567

32 New Zealand's leading rural real estate company

4

1

4

www.pggwre.co.nz/GIS27363

Te Pohue, Hawke's Bay

Great Entry Farm - Great Community `Pukenui' 234 hectares (553.5 acres) 49km from Bay View township In excess of 40ha of flats, the balance of land being medium to steeper hill Woolshed, deer shed, cattle and sheep yards, haybarn, fertiliser bin and strip Three bedroom dwelling with open plan living/dining and kitchen A real bonus is the Mohaka river boundary. A fantastic wilderness river offering hunting, fishing or rafting Cattle, deer, sheep or dairy grazing. All bases covered

Paul Harper

Doug Smith

B 06 878 3156 | M 027 494 4854

B 06 878 3156 | M 027 494 1839

Tender Plus GST (if any) Closes 4.00pm, Thursday, 12 April PGG Wrightson Real Estate, Cnr Orchard & Maraekakaho Road, Hastings

www.pggwre.co.nz/HAS27595

Helping grow the country 33

From Olrig to Okaramio Couple moves south after Hawke’s Bay property sells for the first time in 158 years

Until late last year, Richard Paterson and his partner, Trudy Burgess, farmed 848 hectare Olrig Station, a renowned Hawke’s Bay rural property that had been in Richard’s family for 158 years and was the home block of a run that was established in the 1860s, originally comprising more than 11,000 hectares.

Latterly, ownership of Olrig Station was held by Richard and his sister, Susie, while an additional 1600 hectares of the original

run, now subdivided, is still held within their wider family. Olrig Station went to auction on 10 November. Although reduced in size from earlier days, it remained a coveted farming landmark as one of Hawke’s Bay’s largest easy contoured properties, benefiting from significant recent investment in water and reticulation, and featuring a 1906 homestead that qualified as one of the region’s bona fide stately homes.

Doug Smith of PGG Wrightson Real Estate, Hastings, marketed Olrig Station, working in conjunction with his colleague, Paul Harper. Doug said the marketing campaign received plenty of attention.

“After six generations in the same family, Olrig Station attracted considerable interest. There was genuine enquiry from about 60 parties, with around 20 of those inspecting the property.

“On auction day, we had a full house, with 80 to 100 people in the room. Bidding started at $8.25 million, and was spirited, with bids from four different parties. In the end, with two surviving bidders, a

34 New Zealand’s leading rural real estate company

substantial local farming business with several Hawke’s Bay properties lost out to Richard and Rebecca Riddell, a couple originally from Hawke’s Bay who were already involved in farming. They will continue to farm sheep and beef on the property,” said Doug.

With the sale behind them, Richard and Trudy were ready to take the next step.

Keen to move to Marlborough, where they had both lived previously, they were again able to benefit from the same PGG Wrightson Real Estate network that had ensured their satisfaction with Olrig Station’s sale.

Greg Lyons of the company’s Blenheim office was listing a 234 hectare Okaramio farm, near the Marlborough Sounds, 25 kilometres north of Blenheim, which met the couple’s needs.

“They were looking for a change of farming pace. This property featured 30 hectares of well-fenced productive flats, a full range of quality improvements and improved pasture, alongside large areas of native bush and several maturing woodlots.

“Richard’s large collection of Land Rovers was well-known. This property also gave him the opportunity to establish a 4WD museum to house that collection,” said Greg.

According to Greg, Marlborough rural properties have been highly sought after in the past 18 months.

“Farms of this category are often requested, particularly by North Island farmers like Richard and Trudy. Purchasers are seeking a change of lifestyle and a high-calibre home, while keeping their hand in on the farm. We have had several buyers looking with specific expectations on farm size and mix of options. They are particularly keen to move to Marlborough and enjoy what the region offers, and they are prepared to pay the appropriate value to achieve that.

“From the time Richard and Trudy first visited the property, it was obvious this was what they were looking for and, from that point, putting together a mutually satisfactory transaction with the previous owners, Grant and Gaye Woodman, was a stress-free process,” said Greg Lyons.

Richard and Trudy took possession of their new Okaramio property in early February.

Helping grow the country 35

Waimarama, Hawke's Bay

'Horiana Downs' Well Located with Options 201.6ha (STS) located at 422 Te Apiti Road, 28km from Havelock North Cropping options, breeding sheep and cattle, trading and finishing 4x4 access over farm tracks, approx. 17 paddocks with mainly conventional fencing Permanent limestone stream, supplemented by springs and dams Four-stand woolshed, good shedding plus sheep and cattle yards Contour of approximately 5% flat, 70% rolling, 13% medium with 12% steep

Doug Smith

Paul Harper

B 06 878 3156 | M 027 494 1839

B 06 878 3156 | M 027 494 4854

36 New Zealand's leading rural real estate company

Tender Plus GST (if any) Closes 2.00pm, Wednesday 18 April Cnr Maraekakaho and Orchard Roads, Hastings

www.pggwre.co.nz/HAS27597

Acres or inches?

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Especially when selling your property.

Make sure you’re seen by NZ’s largest property audience.

With over 250,000 visitors to rural and lifestyle listings every month, talk to your agent about listing on Trade Me Property.

*Trade Me Property Google Analytics, average rural/lifestyle audience July 2017 - January 2018.

Beauty and potential realised, now awaiting a new owner In autumn 2001, Robert Goulter stood on a high point on Springer’s Block in the Howard Valley for the first time. He was overwhelmed by the peace and natural beauty of the property, which is located near the Nelson Lakes National Park in the heart of the St Arnaud Basin, and had a vision to increase its productivity.

Helping grow the country 39

Pyne Gould Guinness Marlborough branch manager, Joe Blakiston, was there with Robert that day, and the two of them discussed the pros and cons of purchasing and financing the development of the 500 hectare breeding farm.

“We were stunned by the beauty and potential it had. With views to the Rainbow and Mt Robert Range in the east, to the Nelson hills to the north-west, and the mountain streams coming out from Porika Hill, we could see what a beautiful property it would be to farm, and we thought we could increase productivity from the 500 stock units it was carrying at the time,” says Robert.

Roll forward 17 years, Robert and wife, Heather, have called on Joe again, now the Tasman regional sales manager for PGG Wrightson Real Estate, to market and sell their farm, which has been largely developed according to the plans they began to formulate that day.

“We have based development of the farm around taking trough water to most paddocks, and a fertiliser and fencing programme, along with new cuttings and roads. We have also established an Angus breeding herd, and a Perendale-Romney breeding flock,” says Robert.

When they took over, the Goulters thought about coming up with a

new name for the farm. However, the neighbours told them historically the farm was named Springer’s Block, after a Mr Springer who farmed it after World War II. Robert and Heather’s home farm is Hawkesbury, a sheep and beef and viticulture property 15 kilometres west of Blenheim, where they finish stock bred at Springer’s Block along with an Angus and Corriedale ewe flock. Continued development of that property, which was settled by the family in the 1850s, requires a greater share of attention, while the need to recalibrate the work-life balance has also played a part in their reluctant decision to sell Springer’s Block.

“Springer’s Block has been a wonderful property for us, with great neighbours who have always been so helpful. It has been a joy to farm over the years,” says Robert.

Thanks to their husbandry and development, its carrying capacity now sits between 1700 and 1800 stock units.

“Springer’s Block’s current management system suits us fine, where we run it as a low-cost feeder unit for the sheep and beef component of Hawkesbury. All stock is finished at Hawkesbury, while at Springer’s, we concentrate on growing feed and bringing through good progeny.

“Approximately one day a week ,our stock

40 New Zealand’s leading rural real estate company

manager travels from here, keeping an eye on things, which has worked well, though someone living on full-time might be able to increase the capacity of the farm by a further 500 stock units, judging by the expected stocking rates in the district.

“It is a wonderful summer farm, producing great balage each season, and the district is well-known for summer grass growth, while the supplements made keep the stock going through the cool St Arnaud winters,” he said.

Springer’s Block’s two-storey chalet-style homestead, with three bedrooms, double glazing and an office, was built by the Goulters in 2003.

“It provides a perfect escape and antidote from the frenetic pace of the wine industry, which takes up much of the rest of our lives.

“You feel it the moment you turn off State Highway 63 onto the property. Looking out across the Buller River’s confluence with the Howard River, where the farm sits in a triangle, it feels like you are entering a different world.

Previous owners had plans for a lodge, and there is a perfect site for that, with good access and views up the Buller River to St Arnaud, so a new owner would be able to proceed with that relatively easily,” says Joe Blakiston.

“We have spent many wonderful family holidays there, as well as seasonally working weekends on the farm. For a new owner, the homestead could also operate as an accommodation option for the likes of Airbnb or Bookabach,” said Robert.

Joe describes Springer’s Block as a rare gem.

Off the grid, the homestead runs from a mini-hydro-electric generator, plus solar panels on the roof, complete with new batteries added in 2015. It is also wired for 230 volts in case power can ever be brought in from elsewhere.

Farm infrastructure includes two sets of cattle-yards, one set of sheep-yards and a two-stand shearing shed with small covered yards and a hydraulic wool press.

Around 100 hectares of Springer’s Block is in native bush, comprising red beech, black beech, rimu and native shrubs, populated by tui and bellbirds, as well as fallow and red deer.

“As well as the farm, there are opportunities with the property to capitalise on its recreational amenity and aesthetic beauty, with the likes of horse trekking, mountain biking and hunting.

“What Robert and Heather have achieved is outstanding, the quality of the farm is apparent to all, and its amazing surroundings and vistas can’t be matched.

While they have run it conservatively, to suit their commitments to their home farm, anyone able to spend more time on the farm would take its productivity up another notch or two,” he says.

While it will be an emotional process for Robert and Heather, and they will part with Springer’s Block with heavy hearts, they are looking forward to seeing a new chapter on the farm.

“We would be delighted to hand it on to a young farmer or couple, who can carry on with the property to help achieve its potential. It will reward time, effort and patience spent on it. It has been a pleasure for us to farm, and we hope it will give the next owners as much satisfaction as we have had,” says Robert.

For more information, see page 43.

Contact: Joe Blakistin 027 434 4069 Greg Lyons 027 579 1233 or go to www.pggwre.co.nz/BLE27713

Helping grow the country 41

Tasman team expands to cover the whole region more comprehensively One of New Zealand’s most diverse regions by land use, Tasman has virtually every type of rural property, from hill country manuka blocks to dairy farms, and from vineyards to hops to pipfruit to aquaculture to forestry, not to mention some of the country’s top-performing traditional sheep and beef breeding and finishing units.

Bringing together buyers and sellers across such a broad range of farms, vineyards and orchards is PGG Wrightson Real Estate’s Tasman rural property team, covering Golden Bay to Kaikoura.

Recent changes see all members of the Tasman sales team now able to list and sell property in the top of the south under the banner Tasman Rural Real Estate, which fairly reflects the desire to provide an expanded and comprehensive real estate service to all clients, especially those in the Nelson Tasman region.

Joe Blakiston is the Tasman regional sales manager and rural salesperson based in Blenheim. His initial career as a rural professional included roles with Pyne Gould Guinness in livestock, finance and management, before a move to real estate in 1997. Involved in numerous major sales of viticultural land, dairy farms and forestry blocks, among others, Joe has featured as PGG Wrightson Real Estate’s champion auctioneer in the past.

Having refereed rugby to provincial level, he can still be seen out in the paddock on weekends over winter. Joe has also been heavily involved in powerboating with the Rotoiti Power Boat Club, as well as following the sporting and school activities of his children.

Also based in Blenheim, Ken McLeod has been a consistent top rural property performer since 1992, and is currently in the company’s top 10 rural salespeople nationwide. Prior to real estate, Ken’s solid

rural background included both farm management and ownership throughout the South Island.

Greg Lyons was the Marlborough face of tractor brand John Deere for 12 years before transferring his skills to real estate in early 2016. His performance since has seen him recognised as the company’s nationwide ‘Rookie of the Year’ in PGG Wrightson Real Estate’s 2016/17 awards.

Before he began selling property in 2016, Mark Terry’s career included shepherding, farm management, contracting and drafting. Ranked number one for PGG Wrightson Real Estate for the region in residential and lifestyle sales for 2017, Mark is currently the company’s number six salesperson overall.

When he joined the company in 2005, Richmond-based Peter Evans brought with him many years’ involvement in

42 New Zealand’s leading rural real estate company

the rural and forestry sectors operating throughout Tasman. He has regularly been the area’s top rural property performer and maintains his personal connection to farming and forestry.

Working alongside Peter to grow the company in Nelson and Golden Bay since 2015, Doug Smith’s background in agriculture includes involvement in the dairy industry’s cadet scheme, work as a fencing contractor and serving as an assistant farm manager on a dairy support unit.

Based in Kaikoura, where she was born and bred, Geraldine Straker has sold real estate since 1994, covering Kaikoura’s residential, lifestyle and rural markets.

Committed to an area undergoing steady growth, she has consistently been in the top echelon for sales achievement.

Howard Valley, Nelson Lakes

Quality 500 Hectare Dry Stock Farm

Deadline Private Treaty

Located in the St Arnaud basin, "Springers Block" is offered for genuine sale. Currently run as a satellite operation with minimal hands on management the opportunity to boost production is enormous. Running a breeding ewe flock of 700 plus hoggets and 80 breeding cows the farm also has 55 hectares deer fenced. A two story three bedroom with open plan living, off the grid homestead with a magnificent native bush backdrop offering hunting, fishing and endless outdoor options. A two stand woolshed, covered yards and good access tracks complete the picture.

Plus GST (if any) (Unless Sold Prior) Closes 4.00pm, Friday, 20 April 20 Westwood Avenue, Blenheim

Joe Blakiston

Greg Lyons

B 03 579 3702 | M 027 434 4069

B 03 579 1188 | M 027 579 1233

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www.pggwre.co.nz/BLE27713

Helping grow the country 43

Pelorus Bridge, Marlborough

Prime Grazing or Rural Lifestyle

Auction

After 25 years of ownership, these fattening blocks in desirable Marlborough are now available. Consisting of two separate parcels of bare land, one being 10.002 hectares (24 acres) and the second block being 11.4972 (28 acres). All are well fenced and have a reliable water supply. These blocks will appeal as reliable runoff for dairy/beef or take advantage of this lifestyle opportunity to build your dream home and enjoy all that the Marlborough Sounds offers close by. Properties of this calibre are seldom available so see you at the auction.

Plus GST (if any) 12.00pm, Thursday 5 April 20 Westwood Avenue, Blenheim

Greg Lyons

Joe Blakiston

B 03 579 1188 | M 027 579 1233

B 03 579 3702 | M 027 434 4069

44 New Zealand's leading rural real estate company

www.pggwre.co.nz/BLE27746

Golden Bay, Tasman

Kiwifruit Orchard

$2M

16.03ha in three titles – for sale separately or together • 14.9ha green kiwifruit orchard, 9.7 canopy ha - $2M plus GST (if any) • Modernised family home on 2,023m² section - Offers over $550,000 plus GST (if any) • Lockup 187sqm shed on 8,577m² section - $250,000 plus GST (if any)

Plus GST (if any)

Peter Evans

Douglas Smith

B 03 543 8599 | M 027 224 9798

B 03 543 8594 | M 027 543 2280

www.pggwre.co.nz/NEL25165

Murchison, Tasman

Quality - Dairy Support/Finishing - 66.4797 Hectares

Enquiries Over $1.2M

Top quality soils plus irrigation producing high dry matter volumes per hectare. Approx.

800 dairy cows plus 150 R2 heifer replacements wintered 2017. Improvements comprise of cattle yards, fertiliser bin, central lane system, mains power and irrigation equipment.

Water allocation 14,400 m3 per week ex Buller River.

Plus GST (if any)

www.pggwre.co.nz/NEL27213

Peter Evans B 03 543 8599 | M 027 224 9798 | H 03 544 5888

Helping grow the country 45

Golden Bay, Tasman

Grazing - Upper Takaka, Golden Bay

Price by Negotiation

147.4595 hectares – present use dairy support comprising excellent mix of flats and easy hill. Farm improvements include woolshed, covered yards, implement shed, two hay sheds and small water right. A-frame style home set in elevated position. Very suitable conversion to deer.

Plus GST (if any)

www.pggwre.co.nz/NEL27567

Peter Evans B 03 543 8599 | M 027 224 9798 | H 03 544 5888

Murchison, Tasman

Deer Farm, Manuka/Native Beech Forest - 300.2767ha

$995,000

Located north east of Murchison. Deer and cattle grazing plus Manuka covered hills and native Beech forest. Grazable area approx. 47ha mostly all deer fenced. Modern home features open plan kitchen/living, separate family room, three double bedrooms and set in a private elevated position with commanding views. Other improvements include deer handling shed with built in crush and yards.

Plus GST (if any)

Peter Evans B 03 543 8599 | M 027 224 9798 | H 03 544 5888

46 New Zealand's leading rural real estate company

www.pggwre.co.nz/NEL27408

Broomfield, Canterbury

196.776 Hectares Finishing Opportunity!

Price by Negotiation

Very clean and balanced property with approximately 50 hectares irrigated from its own bore supplying water (artesian) at very low cost. Offering up-graded fencing and subdivision throughout with easy access for stock movement. Substantial new cattle yards including Te Pari Crush, sheep yards and plenty of sheds. Good pastures and extensive on-going fertiliser programme. Attractive four-bedroom home, plus fully selfcontained one-bedroom cottage – all within a mature garden setting.

Presently being run as a breeding and finishing operation.

Plus GST (if any) 4

1

www.pggwre.co.nz/RAN27717

Paul Tapper B 03 313 0615 | M 027 224 1300 | H 03 312 0504

Helping grow the country 47

Cheviot, Canterbury

Versatility's the Key

Price by Negotiation

289ha, approx. 100ha under irrigation (63l/s), the balance being river terrace, rolling downs and some steeper hill. Twelve year old, four-bed home with commanding views over the Hurunui River and three-bed cottage. Excellent stock handling facilities with large steel cattle yards, three-stand RB woolshed and covered yards. High standard of fencing and laneways. Numerous shelter belts on the flats. Running Romney ewe flock, replacements, finishing lambs and cattle and grazing dairy cattle. Versatile farm in good heart that can produce high quality finished stock and grow crops for dairy grazing.

Plus GST (if any)

Steve Coleman B 03 343 3999 | M 027 231 4717 | H 03 319 8181

48 New Zealand's leading rural real estate company

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2

www.pggwre.co.nz/CHE27739

Hawarden, Canterbury

High Spec Irrigation

Deadline Private Treaty

180.7527ha (more or less) located at 281 Gilberts Road. Proven history as a top dairy support unit, with a strong fertiliser and cropping history and a good mix of soils. Three Valley pivot irrigators approx. 147ha and new fixed grid approx. 30ha from a reliable groundwater supply - total approx. 177ha irrigated. Fenced and laned for cattle with excellent cattle yards and other utility buildings. For those wanting a high spec and cost effective irrigated unit suitable for dairy support, possible conversion in the future, cropping or cattle finishing, you should contact Peter Crean now.

Plus GST (if any) (Unless Sold Prior) Closes 2.00pm, Wednesday 21 March

www.pggwre.co.nz/CHR27733

Peter Crean B 03 341 4315 | M 027 434 4002

Helping grow the country 49

Lincoln, Canterbury

Future-Proofed Dairy Farm

Price by Negotiation

• 174.7985ha (subject to final subdivision) offered by retiring vendors • 99.9183ha dairy platform plus three run-offs – several purchasing options • Westfalia-designed, 32-cup ASHB dairy shed • Near new, large, well-equipped cow barn with consent for 465 cows • Good housing and shedding with impressive, modern effluent storage

Plus GST (if any)

Sam Davidson

Peter Crean

B 03 341 4301 | M 027 488 8269

B 03 341 4315 | M 027 434 4002

www.pggwre.co.nz/CHR25400

Ashton, Mid Canterbury

Spray Irrigated Unit

Deadline Private Treaty

Approximately 57.2565ha freehold in two titles - bareland Stranges Road, Ashton, Mid Canterbury Strong soils with reliable productive capacity Crops - wheat, barley, ryegrass, green-feed oats Cattle and lamb grazing Robin Ford

Tim Gallagher

B 03 307 8725 | M 027 433 6883

M 027 801 2888

50 New Zealand's leading rural real estate company

GST Inclusive (Unless Sold Prior) Closes 4.00pm, Tuesday 27 March

www.pggwre.co.nz/ASH27691

Eiffelton, Mid Canterbury

Productive Mid Canterbury Land Approximately 151.5790ha in five freehold titles. Two good homes plus sleep out 40 bail rotary shed with Waikato milking plant and meal feeders. Circular yard with water driven backing gate Excellent groundwater with the whole farm irrigated except for about three hectares Extended growing season and good soils, suitable for a range of farming enterprises

Price by Negotiation Plus GST (if any)

www.pggwre.co.nz/ASH27350

Lachie Ashton B 03 307 8700 | M 027 777 4441

Dorie, Mid Canterbury

Size, Shape, Location Approximately 40.4585ha freehold in one title Irrigation consent in place Affordable addition to your current system, or standalone run-off block Majority Templeton soils

Tim Gallagher

Robin Ford

M 027 801 2888

B 03 307 8725 | M 027 433 6883

Tender Plus GST (if any) Closes 4.00pm, Monday 26 March

www.pggwre.co.nz/ASH27711

Helping grow the country 51

Logans move on from Hawarden Well-known North Canterbury wool buyers, Brian and Christine Logan, recently sold the 94 hectare Hawarden property they raised their family on, lived on and farmed since 1982.

Brian Logan says the property, Glenford, located 39 kilometres north of Amberley and 84 kilometres north of Christchurch, was farmed to fit in with their wool buying business, which ranges from Waiau to Amberley.

“It was always a good farm. When we bought it, it had been cropping and running sheep. We changed it to deer and cattle, which was better suited alongside the annual programme for wool buying and complemented what we were doing there in terms of seasonal workload,” he said.

Originally, the Logans lived on six hectares adjacent to the property.

“Next door became available and the neighbour approached us to say ‘I’m selling 33 hectares.’ We bought it, and added on in the years to come, building it up from there, including putting a new house on what had been a bare block before we built 32 years ago. It was a great spot for raising our four children,” he says.

Drought has posed issues from time to time, and in common with everyone else in North Canterbury, the big snow of 1992 was a farming challenge that left lasting memories.

“That winter all our water systems froze up. Our pump cracked in half. We had

12 New Zealand’s leading rural real estate company 52

to install a new pump, though all the water lines were frozen so that didn’t make much difference at first. We spent our time carting water around the farm, dumping it in troughs for the next two weeks. Our poor old stags suffered,” he says.

A few years later, achieving $10 per kilogram for deer was a more pleasant memory.

“Growing good steers is extremely satisfying too; seeing them coming into the yards, then going away in the truck at around 600 odd kilograms. That is something we have taken pride in,” says Brian.

Three years ago, Brian and Christine decided the time to move on was approaching, and leased the farm for dairy support. With that lease expiring at the end of 2017, the Logans engaged Peter Crean of PGG Wrightson Real Estate, Christchurch, to take Glenford to the market in a joint agency with another real estate company.

“They suggested we go with a deadline sale, and they know what they are talking about. Selling it in three titles gave the buyers various options to purchase, which is why we went with what they suggested on that,” says Brian.

Peter Crean says the sales process went smoothly.

“Everything happened on time. Once the deadline arrived we had received several

offers, and the farm made good money for Brian and Christine, in the end selling as a single unit for use in conjunction with another farm, for calf rearing and dairy grazing. Its potential for irrigation, with Hurunui Water Project shares attached to the farm, is another positive that attracted market interest.

“On a per hectare basis the farm met our upper pricing expectations, ranking as one of the strongest rural property sales recorded in the Hawarden area at around $20,000 per hectare,” he said.

Brian and Christine have moved to a smaller block at Leithfield, closer to Rangiora and to Christchurch, though still within easy reach of the North Canterbury farmers whose wool they buy.

Helping grow the country 53

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Timaru, South Canterbury

Large Scale Dairy Support - 589.0433ha

Deadline Private Treaty

Large scale dairy support / sheep and beef unit close to Timaru and Pleasant Point.

Excellent fertility, water systems, subdivision and production. Two tidy homesteads and sleepout. Large array of farm support buildings and stock yards. Eight units of Downlands water and bore water feeding approx 425,000 litres of storage.

Limestone Valley offers the market scale, scope and potential.

Plus GST (if any) (Unless Sold Prior) Closes 4.00pm, Wednesday 28 March PGG Wrightson Real Estate, Timaru

Richard Scott

www.pggwre.co.nz/GER27676

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B 03 687 7330 | M 021 352 701 | H 03 693 8311

Kurow, South Canterbury

Cattle Creek - 912.8532ha Exceptional property, deer fenced to a very high standard 252ha irrigated via gravity K-line Extensively developed in recent years Quality infrastructure featuring large deer complex and 281sqm Oamaru stone homestead

Price by Negotiation Plus GST (if any) 4

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www.pggwre.co.nz/TIM26010

Hunter Doig B 03 687 7330 | M 027 220 1004

Helping grow the country 55

North Otago

Waitaki Heights - Motivated Vendors • Property is located in a strong dairy/dairy support area only minutes north of Oamaru • 103ha freehold with 76ha irrigated via K-line from a private farm bore • A large four bedroom executive home with attached double garage • Sweeping views across Waitaki Plains to the Pacific Ocean • Three bay implement shed and a large set of cattle yards • Opportunity to acquire extra land with adjoining 305ha property on the market

Dave Heffernan B 03 433 1340 | M 027 215 8666

56 New Zealand's leading rural real estate company

Price by Negotiation 4

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www.pggwre.co.nz/OAM25814

North Otago

If Heaven was a Place on Earth Then This is it 37.3050ha freehold with 13 shares in Lower Waitaki Irrigation Company Large three bedroom home with attached garage, master bedroom with en suite, separate office, open plan kitchen/lounge/dining, gas cooking, heat pump, log burner & internal vaccum cleaning system An asphalt/tarseal driveway goes from house to a large 400m² workshop (15mx28m) with concrete floor and three phase power Set in an attractive lawn and garden area with automatic watering system

Price on Application Plus GST (if any) 3

2

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www.pggwre.co.nz/OAM26881

Dave Heffernan B 03 433 1340 | M 027 215 8666

Helping grow the country 57

North Otago

Wonderful Waitaki Valley

$915,000

• Excellent home and rural location, 13.1835ha (32.6 acres) freehold • Flat land, productive silt loam soils, fully irrigated from cost effective supply • Car shed/workshop, store shed, large cattle yards and loading facility • Handy to town, river and golf course, private, established garden setting • Information brochure available

Plus GST (if any) 3

1

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www.pggwre.co.nz/OAM27553

Laurie Farmer B 03 433 1340 | M 027 435 7535

Owaka, South Otago

Prime Catlins Real Estate 36.82ha easy rolling land with attractive four bedroom homestead Large garage with internal access and separate two car garage Subdivided into eight paddocks and including cattle yards This is in the renowned Catlins district, with panoramic views of the Owaka district and not forgetting the Owaka river on the boundary for leisure activities Stewart Rutter

Jason Rutter

B 03 418 1381 | M 027 433 7666

B 03 418 1382 | M 027 243 1971

58 New Zealand's leading rural real estate company

$1.125M Plus GST (if any) 4

2

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www.pggwre.co.nz/BAL27451

Te Anau, Southland

Grazing with Views and Potential

$1.695M

• 84.31ha of mixed contour bare land, currently used as a dairy support block • Externally deer fenced with some internally, deer shed and yards • On district water scheme, extensive new fencing and water upgrade 2017 • Potential for subdivision • Property has extensive mountain and lake views and partially borders Upukerora River

Plus GST (if any)

Peter Lewis

Nick Robertson

B 03 249 8615 | M 027 202 2405

B 03 249 8613 | M 027 431 6533

www.pggwre.co.nz/TAN25835

Tapanui, Southland

Dont Miss The Bus - Grazing Unit 166.7724ha, three bedroom brick and roughcast home with office Large covered yards and three stand woolshed Two water schemes to 750 litre troughs, lane services 120ha title Well presented property situated just 13km from Tapanui and 30km to Gore Option to purchase 120.37ha with dwelling/main buildings, $2.1M plus GST (if any) Andrew Patterson

Darrell Duncan

B 03 211 3144 | M 027 434 7636

B 03 209 0302 | M 027 432 5767

$2.75M Plus GST (if any) 3

1

1

www.pggwre.co.nz/INV26628

Helping grow the country 59

Northope, Southland

Central Southland Dairy Unit 151.6230ha located 16km from Winton 44 ASHB dairy shed with ACR's, two good dwellings Covered yard for calf rearing, 300 cow feed pad Production 2017/18 budgeted 175,000kg MS from 400 cows, consent for 500 cows A genuine 400+ cow dairy unit with good infrastructure in a desirable location Ian Russell B 03 211 3125 | M 027 478 6517 | H 03 217 6100

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New Zealand’s leading rural real estate company RURAL I LIFESTYLE I RESIDENTIAL

60 New Zealand's leading rural real estate company

$6.065M Plus GST (if any)

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Pine Bush, Southland

Classic Sheep and Beef

$6.55M

489.8963ha in five separate titles Three tidy, well presented homes Two four stand woolsheds and a large set of covered yards with two additional sets of outside sheep yards and large timber cattle yards Well subdivided into 100 paddocks Planted Pines provide excellent shelter High performing stock available to purchase at valuation

Andrew Patterson

Jim Fortune

B 03 211 3144 | M 027 434 7636

B 03 211 3169 | M 027 594 8346

Plus GST (if any)

www.pggwre.co.nz/INV27210

Helping grow the country 61

Waimumu, Southland

Simply Stunning

Price by Negotiation

Total land area 63.4431ha in three titles, can be sold as one or opportunities to suit Award winning 335m² executive homestead has five bedrooms, two living areas, office, loft/rumpus room, designer kitchen, walk-in pantry, two bathrooms plus en suite, gas fire centrepiece in spacious living area Large lockable workshop with two vehicle doors, toilet and concrete floor A natural creek flowing through property Fantastic views of the Hokonui Hills in the very desirable Waimumu district

Darrell Duncan

Bill McDonald

B 03 209 0302 | M 027 432 5767

B 03 209 0303 | M 027 434 1928

62 New Zealand's leading rural real estate company

Plus GST (if any) 5

3

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www.pggwre.co.nz/GOR27619

Gore, Southland

Semi Self Contained Dairy Unit

$10.5M

• 313.2995ha on Waimea Valley Road • 60 bail rotary shed, auto cup removers, molasses/meal feeding system • Waikato plant, upgraded milk filters, De Laval Vari Vac • Attractive main dwelling, three bedroom villa with office plus three bedroom cottage • A semi self-contained unit showing consistent milk production • 605 MA cows wintered on dairy platform • Production 2016/17 283,351kg MS, calves on platform until 1 May

Plus GST (if any)

Darrell Duncan

Bill McDonald

B 03 209 0302 | M 027 432 5767

B 03 209 0303 | M 027 434 1928

www.pggwre.co.nz/GOR20249

Helping grow the country 63

Regional update Northland Although quiet at the start of summer, Northland’s rural property market picked up somewhat post-Christmas. Values of dairy farm transactions were consistent with similar properties sold last season, and interest was shown by both local purchasers and those from outside the region. As in other regions, plenty of rain provided abundant feed and, although demand for sheep and beef properties is reasonable to strong, listings are in short supply. Northland’s autumn property activity is therefore likely to remain steady, rather than spectacular. With buyers evident, albeit cautious, those considering taking property to the market, particularly fattening farms, should expect a positive response, as long as they are realistic about values. One autumn listing sure to attract attention is a well-located and widely admired 159 hectare Waipu beef finishing unit selling for the first time since 1853.

Waikato Seventeen Waikato dairy farms sold during November 2017, close to the record number for the month in any recent year.

After that, however, summer sales activity in the region reduced considerably. Various factors contributed to this, including doubt around the new government’s intentions relating to overseas ownership, and uncertainty on where the dairy payout will end up this season. While farms at the top end of the region’s market continue to sell well, at prices considerably above where they would have been a few years ago, there is little interest in those properties with less obvious appeal. Waikato dairy farmers who want to buy have already done so, while the others are more focused on paying back principal and interest than increasing their landholdings. Any possible market change during the autumn will be gradual rather than dramatic.

Bay of Plenty, Central Plateau and South Waikato Manawatu, Wairarapa and Horowhenua

to sell well. At present, that is particularly apparent for sheep and beef farms, where an undersupply of good quality properties for sale is evident throughout the region.

Kiwifruit, particularly orchards growing the G3 variety, set the tone for the Bay of Plenty’s rural property market, and demand currently outstrips supply. Groups of buyers are coming together to achieve some purchases. Sales exceeding $1 million per canopy hectare occurred early in the season. In prime kiwifruit country, a Paengaroa dairy farm is for sale, currently worth approximately $45,000 per hectare, though with around 60 per cent of its area suitable for kiwifruit, the latter is valued at $100,000 per hectare, this prior to any development or planting. Meanwhile, interest in dairy property, keen pre-Christmas, dropped away in the new year; a Rotorua hill country property sold for $11,700 per hectare; and there is some interest in forestry blocks following the government’s announcement on forestry development last year, though this will take some time to transition to sales.

Whanganui and Taranaki Rural property sales in Taranaki and Wanganui were limited through spring and summer, particularly sales of dairy farms. Farms in less admired regions are attracting few prospective buyers. Several spring campaign listings remained unsold through the summer and, where dairy property is concerned, it is a buyer’s market. Taranaki dairy farms that did sell achieved prices between $40,000 and $45,000 per hectare. With financiers taking a conservative line on lending criteria, and a degree of uncertainty among farmers around consenting issues for dairy, the market is unlikely to accelerate during the autumn. As always, properties with scale and location are the exception to this trend, and will continue

64 New Zealand’s leading rural real estate company

As elsewhere in the country, Wairarapa, Manawatu and Horowhenua dairy farm listings remain abundant. Those properties regarded as marginal for dairy, or carrying challenges around environmental compliance and consenting, are struggling to attract buyers. Meanwhile, listings of sheep and beef farms are tight so properties with scale and location are selling well. One such farm, Allandale, an admired 393 hectare Greytown grazing property, sold as two blocks at the end of November. These comprised 75 hectares to a local dairy farmer for use as a run-off and dairy support property, and the 236 hectare main block, which sold to a neighbouring dairy farmer, who will integrate this into his own property. Each block sold for approximately $26,000 per hectare. A large north Wairarapa hill country property is likely to go to the market in autumn and will attract considerable interest.

Hawke’s Bay With plenty of feed available, summer activity around Hawke’s Bay rural property was buoyant. A shortage of listings was the only factor holding back the market. Those farms that were offered for sale sold well.

Demand for sheep and beef properties of 550 hectares or more is particularly evident, and remains unmet. Transactions during the summer remained firm at up to $1400 per stock unit carrying capacity or from $10,000 per hectare up. Since the election,

enthusiasm from overseas investors has waned, though some are determined to follow through on their intent to participate in the Hawke’s Bay rural economy. While they are now likely to face higher barriers, they appear to still have opportunities to make an acceptable business case to the Overseas Investment Office, particularly around forestry property and development.

Nelson and Marlborough As in much of the rest of the country, demand for Nelson and Marlborough dairy properties was subdued during the summer, with vendor expectations exceeding what purchasers were prepared to pay. How quickly this gap closes remains to be seen. For pastoral and viticulture land, however, relatively few properties were offered for sale, with eager purchasers on hand to acquire those that were. Farmers motivated to capitalise on abundant feed produced by the exceptional climatic conditions rather than going to the property market. Recent notable sales include a 234 hectare Okaramio farm that changed hands in January for $2.25 million and an extensive 1134 hectare Seddon hill block that sold in February for $2.75 million.

Meanwhile, a 500 hectare St Arnaud grazing block should create strong interest when offered for deadline sale in the autumn.

West Coast West Coast dairy farmers intend to see out the trough in the cycle that continues to afflict them, even when the outlook in other regions has improved. With local co-operative, Westland Milk Products’ payout currently projected at between $6.20 and $6.60, most farmers should be in the black, though are generally focused on repaying debt. While banks are being patient with their clients, few of the region’s farmers are motivated to buy or sell land in such a market.

In a positive indicator for the future, Westland Milk recently announced that large corporate farmer, Southern Pastures LP, will supply the company from the 2018-19 season, adding an extra 4 million kilograms of milksolids to Westland’s annual collection. Such a positive statement should help raise confidence in the region, which will eventually translate into increased rural property market activity.

Canterbury Two North Canterbury sheep and beef farms sold well in November: 843 hectare Randolph Downs, north of Amberley, and 583 hectare Timpendean, at Weka Pass. Both well-regarded properties, each drew considerable interest

before changing hands for around $1200 per stock unit. Through summer, the volume of sales reduced, with relatively few farms for sale. Canterbury dairy farmers are not offering property to the market in the same numbers as in other regions, though the buyers’ market for dairy property elsewhere is providing the region’s potential purchasers with greater choice and therefore reducing their price expectations. Interest in larger dairy units is restricted. Canterbury properties demonstrating environmental sustainability will attract market interest. Hurunui Water Project shareholders are set to determine whether their scheme will proceed in March, though this date may be extended. Land use change and property transactions will be made based on that decision.

Mid and South Canterbury Enthusiasm to purchase Mid and South Canterbury dairy and arable properties was lower than anticipated during the summer.

Farmers are wary of Mycoplasma bovis, which first surfaced during the spring and continues to cause local anxiety. This is one factor that has made identifying purchasers for larger dairy properties particularly challenging. Smaller farms are also proving difficult to sell. However, one Mid Canterbury arable listing, a 127 hectare Dorie property, is likely to change hands early in the autumn, and will be closely watched. Some farmers are showing signs of financial strain, though with banks apparently applying little overt pressure to date, it may take some time, if ever, before that transforms into an increase in property listings. Otherwise, interest in the region’s sheep and beef farms is stronger and, the better the quality, the more satisfactory the sales outcome.

Otago and Central Otago Dry conditions have prevailed in Otago since the start of the year, with many farmers exiting surplus livestock to more northern regions.

Summer rural property market activity was slow, with few sales being completed since Christmas, although Central Otago lifestyle and residential properties did transact in reasonable volumes. Several attractive listings are receiving plenty of attention, particularly in South Otago though, in most cases, prospective buyers need to sell before they can purchase. Some financial institutions have tightened their lending criteria and are not initiating new borrowing at present.

While product prices, schedules and interest rates have never been better, these financial constraints have curtailed rural property sales

in Otago, frustrating both vendors and purchasers. This situation is likely to continue in the autumn.

Southland Southland’s rural property market was active early in summer, with new properties offered for sale and buyers keen to take advantage. Grounds for optimism included improved dairy prices, a stronger lamb schedule and beef returns remaining firm.

However, as summer progressed, drought conditions took their toll and buyers became more concerned with what was happening on their own farms than pursuing other business opportunities. Those sales that did occur remained at values consistent with farm transactions during the spring.

Buyers are predominantly local. One listing that is worthy of serious consideration is the 490 hectare property at Waimahaka, Southern Southland. This property is located in a reliable farming district and is an exceptionally well presented medium scale sheep and beef unit with further options to dairy graze in the future.

Helping grow the country 65

A closer look SHEEP AND BEEF Demand for sheep and beef farms was strong during the summer, the sector benefiting from favourable climatic conditions, plenty of feed and continuing buoyant product prices.

Confidence is high, reflected in the number of less sought after North Island dairy farm listings under consideration by sheep and beef farmers contemplating decommissioning the cowsheds. Values of established sheep and beef farms are steady, ranging from $3,000 to $4,000 per hectare for manuka properties, $6,000 to $7,000 per hectare for grazing properties at the lower end of the range, and $14,000 to $15,000 per hectare for premium level farms, although the best located properties will command more than that. Demand exceeds supply. Properties offered in the autumn should sell well. Notable summer sales include a 252 hectare Te Kuiti grazing property that sold at auction in December for $3.5 million.

DAIRY NORTH ISLAND DAIRY While the summer market for North Island dairy farms began strongly, with plenty of activity in November and December, sales then slowed.

Most action before Christmas was clustered around the top-end Waikato districts, where transactions ranged from $65,000 to $95,000 per hectare, values even to slightly firm on what has prevailed previously. In most instances, however, there was only one buyer per property, rather than a multiplicity of competing purchasers. After Christmas, when those previously motivated to buy had already done so, market intensity reduced. Although there is no shortage of listings, uncertainty around the payout and the new government, and farmers concentrating on repaying debt, have held buyer enthusiasm in check. These factors should ease gradually through the autumn, though probably not in time to re-energise the market before the end of the current milking season.

SOUTH ISLAND DAIRY Buyers for Canterbury’s larger dairy farms are scarce as uncertainty around overseas investment affects value perceptions. In Southland, summer dairy farm sales were on par with the corresponding period last year, though dry climatic conditions and the Mycoplasma bovis outbreak distracted farmers from the market as summer progressed. Good recent South Island sales include a 142 hectare Thompsons Track, Mid Canterbury farm, which achieved just above $57,500 per hectare when purchased by a local dairy farmer to expand the family holdings, and a 337 hectare farm at Mokotua, Invercargill, which sold in excess of $10 million, also to a neighbour. Values for Canterbury farms sit between $52,000 and

$58,000, with a premium for those with better water. Southland values remain relatively unchanged, in the early $40,000s per hectare for the upper end of the market, and from $20,000 to $30,000 per hectare at the lower end.

VITICULTURE With harvest fast approaching, this summer’s climate has been conducive to a particularly plentiful crop. Due to the periods of heavy rain in January and February, however, botrytis and disease pressure is significant. Several eight to 10 hectare vineyards are coming to the market, where they will meet excellent demand.

Historically high prices mean established vineyards are ranging from $250,000 to $300,000 per canopy hectare. Demand exceeds supply for all types of viticulture property.

Interest from the larger corporates is focused on bare land suitable for future expansion, while the mid-size wineries are buying smaller blocks and contracting vineyards to bolster their supply of fruit. Private individuals, meanwhile, are looking to gain a foothold in the wine industry, where the outlook is positive, and the number of people seeking to invest mirrors the same demand in the kiwifruit sector.

KIWIFRUIT This season’s kiwifruit property market started spectacularly in October with a series of gold kiwifruit orchards selling between $1.05 million and $1.076 million per canopy hectare. While there were no further sales at this level during the summer, that was due to the lack of listings, rather than exhaustion of demand. Existing interests in the sector, as well as other investors eager to become involved, are driving this demand for kiwifruit property. Opportunities to buy, however, are limited. Some orchards growing green kiwifruit did change hands during the summer, fetching approximately $400,000 per canopy hectare. As growers move towards harvest in the autumn, listing activity should recommence. While orchardists sustain elevated returns on investment, and with positive commentary from Zespri on the prospects for G3 gold kiwifruit, any softening of the high values at which property is transacting is unlikely.

PIPFRUIT AND STONEFRUIT PPipfruit and stonefruit property sales were unexceptional through the summer. Demand to buy exceeds the supply of properties for sale. Although several orchardists did consider going to the market, most of these are looking to move to another property rather than exit the sector. With limited

66 New Zealand’s leading rural real estate company

listings available and nowhere suitable for vendors to move on to, more definite activity did not therefore eventuate. Factors inhibiting the summer market, particularly among Hawke’s Bay orchardists, included the dry conditions and the changeable weather patterns. As the land greened up late in the summer, the visual appeal of orchards improved, providing encouragement for those considering listing to sell. For pipfruit, at least, owners should be more willing to sell as fruit ripens and harvest approaches.

Any that decide to proceed to the market in the autumn should be met positively and can expect a satisfactory outcome.

CROPPING Demand for Mid Canterbury’s premier arable properties is always high. Within a tightly confined area of the district, transactions typically occur between established cropping farmers. Sales likely to be completed in late summer and early autumn look set to remain consistent with current benchmark prices for these sought-after farms, between $45,000 and $50,000 per hectare. Competition for these properties from dairy farmers, previously a feature of the sales, is not evident at present. Although the volatile weather has kept farmers on edge, heading conditions in February were favourable. Mixed spring weather, however, resulted in cereal crops between 1.0 and 1.5 tonnes per hectare below average.

More arable farms will come to the market through March, April and May. While these should receive plenty of attention, the quality of their water allocation and irrigation infrastructure will determine how well they sell.

FORESTRY Forests approaching maturity, including land and trees, are selling between $25,000 and $30,000 per hectare. After harvest, purchasers stand to net around $30,000 or more per hectare for the timber, depending on its quality. Investment interests are prepared to pay up to $4,000 per hectare for undeveloped land suitable to plant trees.

Blocks of at least 200 hectares are most keenly sought after. China, Korea, India and Japan are all in line to purchase New Zealand logs, driving export prices for timber to a 12-year high. Supply and demand in forestry property is finely balanced and, when given the opportunity, investors and new buyers are enthusiastic participants, anxious to look at any suitable land offered for sale.

As forestry is a long-term investment, this situation is likely to evolve through the rest of 2018, rather than altering radically.

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