Property Express - Autumn 2019

Exclusive Land Investment Opportunity Maungawera Valley Road, Albert Town (See page 73 for details on this property)

AUTUMN 2019 | www.pggwre.co.nz/property-express

Welcome Rural property market operating at two levels During the summer the rural property market was working on two levels: for dairy, purchasers are cautious and activity is light; in all other sectors buyers and sellers are active at above average levels with several standout sales.

More information on these issues and plenty of examples of excellent properties available to purchase can be found in this edition of Property Express, PGG Wrightson Real Estate’s premier listings publication for rural property.

Those in the sheep and beef, viticulture and horticulture sectors are generally doing well, feeling confident and in many instances, looking to extend their property holdings.

Whether your interest in the rural property market is as a vendor or a purchaser, a member of PGG Wrightson Real Estate’s nationwide network of specialist rural property salespeople, will be pleased to help you achieve your objectives during this autumn’s market.

In these sectors, however, insufficient listings are holding back the transfer of property as farmers and growers choose to make the most of the returns on offer from the present export markets by farming on, rather than capitalising on the demand for their land.

Demand for property in each of these sectors exceeds supply. Anyone with a farm, orchard or vineyard to sell in the coming months can look forward to a satisfactory sale. Those who list will be whole-heartedly welcomed by a gallery of eager purchasers.

This two level market is set to continue during the autumn, though the dairy sector may see more activity in the spring.

We are standing by ready to provide expert guidance.

Peter Newbold General Manager

PGG Wrightson Real Estate Limited is acting solely as the selling agent for the vendor, and is not responsible for the accuracy and completeness of information supplied by the vendor either directly or via PGG Wrightson Real Estate Limited, whether contained in an information memorandum or otherwise. PGG Wrightson Real Estate Limited has not verified such information and PGG Wrightson Real Estate Limited is not liable to any party, including the purchaser, for the accuracy or completeness of such information. Potential purchasers and investors should also note that the vendor is responsible for obtaining legal advice on any Securities Law aspects associated with the proposed transaction and that PGG Wrightson Real Estate Limited is not a promoter for Securities Law purposes but is solely acting in its professional capacity as a selling agent. PGG Wrightson Real Estate Limited, licensed under the REAA 2008.

Cover:

Exclusive Land Investment Opportunity | DUN29742 Maungawera Valley Road, Albert Town (See page 73 for details on this property)

Contents 2

Our offices

3

Our company

4-5 Top regions significant sales 6-7 Regional update 13

North Island properties

45

South Island properties

86

A closer look

feature articles 9

Grow kiwifruit

21

The Munros - Clevedon

41

Demand pushing prices up

47

Big bush

59

102 years of Manahune

77

Dairy poised to swing back into the positive

Our offices For specialist knowledge on buying and selling rural, lifestyle and rural-residential real estate throughout New Zealand, contact your local PGG Wrightson Real Estate branch.

North Island

South Island

Kaitaia 09 408 6130 Kerikeri 09 407 4832 Whangarei 09 470 2522 Dargaville 09 439 3342 Wellsford 09 423 9712 Pukekohe 09 237 2014 Hamilton 07 858 5338 Matamata 07 888 4572 Te Kuiti 07 878 0265 Morrinsville 07 889 0171 Cambridge 07 823 0647 Te Awamutu 07 870 6219 Putaruru 07 882 1485 Tauranga 07 571 5795 Rotorua 07 349 5486 Waihi 07 863 6589 Katikati 07 571 5795 Te Puke 07 571 5795 Whakatane 07 349 5486 Taupo 07 377 8928 Hastings 06 878 3156 Waipukurau 06 858 6073 Wairoa 06 838 8059 Feilding 06 323 0076 Levin 06 367 0820 Taihape 06 323 0076 Marton 06 323 0076 Dannevirke 06 374 4630 Masterton 06 370 1866

Nelson Blenheim Kaikoura Greymouth Rangiora

03 543 8590 03 578 3019 03 578 3019 03 768 1222 03 313 0610

Christchurch Ashburton Timaru Geraldine Fairlie Oamaru Cromwell Alexandra Dunedin Mosgiel Balclutha Te Anau Gore Invercargill

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

Lower North Island

East Coast/Wairarapa

Nelson/Marlborough

Canterbury/West Coast

Mid/South Canterbury

North 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-office

2

A national team of expert locals

Otago/Central Otago

Southland

Our company PGG Wrightson Real Estate is one of New Zealand’s largest single full-service real estate companies and is wellplaced to offer exceptional specialist service throughout the nation. With 34 Offices and 27 Sub offices covering every region of New Zealand,14 sales managers, over 170 sales specialists, our lifestyle 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.

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.

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

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.

A network that really works When you deal with us, you are dealing

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.

A national team of expert locals.

Connecting people with property 3

Significant sales 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: September 2018 - February 2019

SOLD

SOLD

Aria, Waikato 622.03ha

Oparau, Waikato 342.4ha

Cambridge 118.06ha

Peter Wylie

Trevor Kenny

Martin Lee

Kaeaea is a 662.03ha hill country breeding farm known for producing healthy stock.

Sold in February 2019, owners can either sell off a large volume of lambs and cattle store or finish them on the property. As well, there is approx. three hectares in pine trees.

Sold in December 2018, this 342.4ha finishing property offers well balanced contours along with stunning coastal views. The farm is suited to all types of fattening and finishing propositions and was purchased by a neighbour to use for sheep and beef and dairy support.

Sold at auction in November 2018 this 118.06ha dairy farm milks 264 cows supplying an average of 105,000 kg/MS. The homestead is a modern three bedroom home with office and swimming pool while farm buildings include a 24 ASHB shed with meal feeding system.

SOLD

4

SOLD

SOLD

SOLD

Paengaroa, Bay of Plenty 13.019ha

Paengaroa, Bay of Plenty 7.312ha

Waipawa, Hawke’s Bay 579.89ha

Stan Robb

Stan Robb

Doug Smith / Paul Harper

This top performing G3 Sungold kiwifruit orchard, in a popular location, sold in January 2019. With 8.14 canopy hectares, set on a 13.019ha property, the orchard has a state-of-the-art front protection system.

Set on 7.3120ha, in a renowned kiwifruit growing area, in an early start location recognised for growing bumper crops of large fruit, this G3 kiwifruit orchard comprising of 6.2 canopy hectares was sold in January 2019.

This large scale finishing and cropping property, set on 579.89ha of predominantly flat land, has a full set of infrastructure and is located in the sought after farming district of Waipawa. The property was purchased by a local farming family in November 2018.

A national team of expert locals

SOLD

SOLD

SOLD

Omihi, Canterbury 249.27ha

Culverden, North Canterbury 844ha

Lowcliffe, Mid Canterbury 154.71ha

Peter Crean / Mark Clyne

Bruce Hoban

Robin Ford / Tim Gallagher

Manahune, a 249.27ha North Canterbury breeding and finishing property, was owned by the same family for 102 years until being sold in November 2018. Specialising in prime lamb production, the land is also suitable for cattle and deer breeding and finishing.

Mandamus Downs is an 844ha sheep and beef farm with a good balance of hills, downs and flats. Sold in December 2018, after being held by the same family since 1908, the property is supported with a main homestead, two cottages and farm buildings.

‘Ardenfield Farm’ in Lowcliffe is a 154.71ha arable/livestock spray irrigated unit with good water consents and two drying silos.

The property was sold in December 2018 to a local family expanding their farming investments.

SOLD

SOLD

SOLD

Clydevale, South Otago 353.11ha

Darce, Southland 265.156ha

Menzies Ferry, Southland 221.613ha

Stewart Rutter / Jason Rutter

Andrew Patterson

Todd Anderson / Andrew Patterson

Sold in January 2019 this 353.11ha finishing property includes a beautifully renovated five bedroom homestead set in mature gardens. With flat-to-easy contour and strong pasture history, the farm’s purchaser intends to use the property as a finishing and supplement block.

This 265.156ha fattening unit, with three bedroom home, has a full water scheme, wool shed, covered yards and cattle yards.

With strong soils, and a good history of finishing and grazing, the property was purchased for dairy grazing and supplement block in December 2018.

This well performing, 221.613ha Southland dairy unit, situated on land known for its reliable soils, sold in December 2018. The farm has a 50-bail rotary shed along with three dwellings and is supported by a neighbouring 44ha leased property.

Connecting people with property 5

Regional Update Northland Although Northland’s summer rural property market featured several good listings, few transactions eventuated, with lack of confidence in the dairy sector accounting for the relatively light activity.

Meanwhile, despite returns remaining healthy for red meat, those farmers are not so far motivated to increase their holdings by acquiring additional property.

Although there is some interest in land for kiwifruit around Kerikeri, and that sector is particularly positive, this is also yet to result in transactions. For those Northland farms that did sell, local buyers took advantage, with sales to neighbours the most frequent outcome. If slightly increasing activity towards the end of summer is an accurate indicator, purchasers should be a little more forthcoming during the autumn, and sales negotiations may edge closer to completion. Financiers finding greater enthusiasm for dairy would also help reenergise the region’s rural property market.

Waikato When suited to use other than dairy, Waikato rural property came under close scrutiny in the summer, changing hands for elevated values. A three year waiting list for avocado seedlings indicates one land use trend. Drystock properties in the region’s sought-after locations strengthened in both value and volume of sales, with the latter approximately 30 per cent ahead of the quantity of sales in summer 2018. In other categories, the market is holding steady, although poorer quality and unfavourably located dairy farms are particularly difficult to sell, unless priced at a level that will sustain economic use as finishing or support blocks. Post-Christmas, inquiry was subdued and few new listings were offered to the market. As those considering selling re-evaluate their options, particularly if they are willing to reduce

6

A national team of expert locals

their value expectations, autumn market activity could increase.

Bay of Plenty, Central Plateau and South Waikato Kiwifruit sets the tone for Bay of Plenty rural property. Gold orchards in sought after localities are changing hands for $1.2 million per canopy hectare, while green kiwifruit orchards are selling up to $400,000 per canopy hectare, with a premium of an additional $100,000 possible where vines can be cut over and grafted with the gold variety. So long as enough growers offer orchards for sale, activity through the autumn and winter should remain brisk. As in other regions however, demand for dairy property is muted as uncertainty persists around land and water use regulations, while banks reduce their exposure to agriculture, creating a gap between vendor and purchaser pricing expectations. Around Rotorua, demand for drystock farms is lively, though owners of these prefer to retain their properties, increasing their self-sufficiency against the threat of Mycoplasma bovis, leaving willing purchasers unsatisfied.

Lower North Island Reflecting much of the rest of the country, the summer rural property market in Taranaki, Wanganui, Wairarapa, Manawatu and Horowhenua was busy for sheep and beef, though quiet for dairy. Sales for the former included a 272 hectare Cheltenham, Feilding finishing property, which sold in December for $9.9 million. During autumn, prolonged dry weather may delay the introduction of some properties to the market, possibly delaying marketing campaigns until April and May. Demand for quality lower North Island sheep and

beef property remains unmet as those inclined to sell are holding on to make the most of the excellent returns on offer. If that changes, they may live to regret their reluctance to move sooner. Meanwhile, a few fringe dairy properties in Pahiatua and Wairarapa have sold to sheep and beef operators intending to de-commission their dairy sheds.

Hawke’s Bay Hawke’s Bay’s rural property market progressed well during the summer. Several of the region’s sheep and beef farms have sold recently, with firm prices suggesting that confidence in the sector remains strong. This looks set to continue through an active autumn. Local purchasers are to the fore and prepared to pay premium prices to secure land that will increase their holdings. A handful of appealing farms will list for autumn sale. Timoti, a 260 hectare Waimarama breeding property wintering up to 2,500 stock units, is one of several that should be well received by an enthusiastic market where demand exceeds supply.

Forestry is underpinning the value of less favoured Hawke’s Bay sheep and beef properties with premium values for land suitable for trees, when well-located relative to the port and roading, firming to more than $6,000 per hectare.

Tasman During late spring and early summer local climatic conditions for pastoral farming, arable and horticulture enterprises were excellent. However, the Tasman region suffered a drier start to 2019 than most would prefer, resulting in Nelson’s catastrophic fires and challenging conditions elsewhere, including water restrictions. Much of the rural property on offer prior to Christmas sold well, including viticulture development blocks with good rights to water. Big Bush, a 339

hectare Nelson Lakes sheep and beef farm, also changed hands firm on recent values shortly after a tender process. Farms are generally selling to purchasers from within the region. Sheep and beef farmers repaying debt and paying tax makes a positive situation for rural property sales.

With few Nelson and Marlborough farms available, any that come to the autumn market should be eagerly welcomed by motivated purchasers.

Canterbury Some notable North Canterbury sheep and beef breeding and finishing properties sold well during the summer. These include 844 hectare Culverden farm Mandamus Downs, 249 hectare Glenmark property Manahune, and Waiau Pastures, a 400 hectare irrigated Parnassus property. These sales illustrate that willing buyers will come forward for properties with scale and productivity. Any farms with similar credentials offered to the autumn market should be well received.

Properties carrying fewer than 5,000 stock units drew less attention. Meanwhile, as in several other regions, potential purchasers of dairy property are hesitant. Factors including tighter environmental regulations and the removal of overseas investors have persuaded some that a price correction in the sector may take place. They are holding back until that occurs. Any autumn correction for dairy property values would provide impetus for the Canterbury market, though is not inevitable.

West Coast Although the weather was excellent and grass abundant, despite its best efforts, local co-operative Westland Milk Products was unable to offer its suppliers returns to match those of companies elsewhere. With most of the region’s farms in dairy, and Westland’s payout not sufficiently above $6 to give farmers confidence, the West Coast’s

summer rural property market activity was scarce. Farm values in the region start at around $20,000 per hectare, considerably lower than in other regions. With good systems, these properties will sustain 2.5 cows per hectare, which should provide a fair return on efforts, even with a $6 payout.

However, without a minimum of 50 per cent equity, new entrants to ownership will not secure finance to support purchases.

This situation is unlikely to change during the autumn, or any time until forecast returns can be consistently elevated.

Mid and South Canterbury Despite the listing of several excellent Mid and South Canterbury rural properties in the summer, the market was not especially responsive and few transactions resulted.

Value expectations among purchasers are possibly between five and ten per cent below those of vendors. Purchasers and their financiers are paying particular attention to balance sheets and to a farm’s productivity under new land and water use regulations. Nitrogen budgets have become a key component of any sale, and without a balance sheet strong enough to take on additional debt, a cautious approach to any new purchase is inevitable. Forest Downs, a 319 hectare bull beef finishing farm between Geraldine and Fairlie, going to auction at the start of March, should give a reliable gauge of where the Mid and South Canterbury rural property market sits, and may provide a lead for increased activity during the autumn.

Otago

the region, and particularly in South Otago, including from purchasers based in Canterbury and Southland intending to relocate. Owners of such farms considering selling would be well advised to act during the autumn to take advantage of what is definitely a sellers’ market for this size and scale of property. Prospective purchasers seeking fine wool properties were also evident in the summer. Waikerikeri Run, a 916 hectare hill country grazing property on the Dunstan Range, with a large QEII covenant, sold satisfactorily after a tender process. South Otago properties also sold well. Although activity in the dairy sector was subdued, a 159 hectare Henley, Taieri Plains dairy farm did sell, purchased by a local buyer with other investments in the dairy sector.

Southland Although Southland’s summer rural property market started slowly, sales of dairy and dry stock farms picked up through December and January as more vendors accepted a market correction.

Most of the interest was from local buyers, although dairy sector interest from the North Island was also noted. Corporate activity around Southland farms is more apparent than elsewhere in the country, with yields in the region sufficient to attract investment. However, in line with other regions, larger dairy properties are difficult to sell. While Northern Southland dry stock farms are well sought after, after a busy spring, few were offered for summer sale.

During autumn steady market activity is likely. Sheep and beef properties in the $2 to $3 million range should continue to sell well, with most likely purchased by farmers in near proximity. Banks are supporting purchases of cash positive businesses.

Otago’s summer rural property market focused mainly on the sheep and beef sector. Demand for quality properties above 4,000 stock units was strong across

Connecting people with property 7

When you aspire to be a leader, it helps to be part of a leading team.

Like everything in life, when you aspire to a successful career, it sure helps to be surrounded by successful people.

That’s certainly one of the benefits of choosing a career with PGG Wrightson Real Estate.

You’ll also have the support of being part of a single, national company with 120 PGG Wrightson offices located from Kerikeri to Invercargill – not a group of franchised offices.

Whether it’s a large-scale farm, stunning lifestyle property or a residential property in a provincial town, there is plenty of opportunity for you to build a successful new career or build on your already proven success.

WE’RE RECRUITING NOW! For more information and to talk to us about your aspirations, contact us today.

Camron Meade, National Sales Manager M 027 420 1881 E camron.meade@pggwrightson.co.nz

www.pggwre.co.nz

Licensed REAA 2008

Helping grow the country

Kiwifruit Set for geographical expansion

Kiwifruit sector set to expand into non-traditional districts Expansion of the kiwifruit sector, and the associated land use change, is a growing trend in the rural property market, potentially impacting on various North Island districts.

Stan Robb of PGG Wrightson Real Estate, Te Puke has marketed hundreds of millions of dollars worth of kiwifruit property since 1990. He has seen the sector negotiate the challenge of the Psa virus, and respond to recover to the current confident position it holds, where many orchardists are generating returns on investment that he estimates range from 10 to 15 per cent per annum.

“Zespri is issuing licences to grow 750 hectares of additional gold kiwifruit per annum from now until 2022. That is an excellent opportunity that growers and investors are motivated to make the most of. Much of the resulting expansion will be achieved by converting green kiwifruit orchards, particularly in the Bay of Plenty.

However, new development blocks are also in demand, which will mean geographical expansion.

“Existing growers investing outside their traditional patch is one way to meet that

demand, bringing their skills, the sector’s infrastructure and the economic weight of large specialist businesses into regions that are relatively undeveloped for kiwifruit,” he said.

As part of the trend, Stan and his son Chris, who work in partnership, recently marketed a 9.86 hectare gold kiwifruit orchard at Haumoana, near Clive, in Hawke’s Bay, which was purchased in early February for $10 million by a Bay of Plenty-based investment entity with kiwifruit interests. While premium standard, optimum altitude Te Puke gold

Connecting people with property 9

kiwifruit orchards are changing hands for $1.2 million per canopy hectare, the Haumoana transaction was the first outside the traditional kiwifruit heartland of the Western Bay of Plenty to sell for $1 million per canopy hectare.

“The Clive property we have just sold produces around 14,000 trays per hectare and is located in an early start area. To sell at this value, such a distance from the main kiwifruit producing region, indicates the sector’s strong confidence and the limits to growth closer to Te Puke,” he said.

Meanwhile the Eastern Bay of Plenty and the Rangitaiki Plains in particular is shaping as another region that could help meet the demand for new kiwifruit development.

Existing growers investing outside their traditional patch is one way to meet that demand, bringing their skills, the sector’s infrastructure and the economic weight of large specialist businesses into regions that are relatively undeveloped for kiwifruit

Phil Goldsmith of PGG Wrightson Real Estate, Whakatane says the district has excellent soils, an ideal climate, and suitably sized land parcels that are attracting investors.

“The Rangitaiki Plains is a lowland of about 40,000 hectares, bordering the Bay of Plenty coast from Whakatane to Matata, extending inland for up to 20 kilometres. Soils comprise drained peat swamps, plus flood plains with a mix of pumice and greywacke alluvium silt.

“Presently mainly in dairy, parts of the district have seen several changes of land use since settlement. While some dairy farmers are

10 A national team of expert locals

reviewing their options, and considering diversification, not every property will suit horticulture. However, some land use change is occurring, with more likely,” he said.

Phil Goldsmith says investors are looking at the Rangitaiki Plains to meet the demand for land capable of growing kiwifruit.

“We are in the process of selling a 44 hectare Awakeri dairy farm, which is all flat, on fertile land and suitable for horticulture development. Interest in this property indicates that it will likely go into kiwifruit.

It is a generous size for horticulture and will deliver excellent scale. There are several other similar transactions nearby, of 20 and 40 hectare blocks. Where the soil and drainage

is suitable, and subject to water consents, more transactions of similar Rangitaiki Plains properties are likely.

“Where these properties have most recently been used for dairy, horticulture investors are prepared to pay a generous premium based on the prospect of land use change. Values of bare land for kiwifruit are rising, with demand well documented. For local dairy properties, values last season sat between $55,000 and $60,000 per hectare, which is substantially below the value investors are prepared to pay for blocks suited to kiwifruit or other crops.

“With figures like that, where the soils and water will support it, land use change is going to occur. The Rangitaiki Plains will continue

as a significant dairy area, though increased diversification is likely. A proposed 40 hectare blueberry development is also in process locally, so there are additional horticulture cropping options,” he said.

Rex Robb of PGG Wrightson Real Estate, Kerikeri believes his district is also well placed to expand on the estimated 380 canopy hectares already growing kiwifruit.

“We have had transactions of up to $850,000 per canopy hectare for Kerikeri orchards that produce 15,000 trays per hectare. Growing here does provide orchardists the potential to harvest earlier, which can earn around an extra $2 per tray, and local orchards do seem less susceptible to Psa than they are further south.

“Added to that, Kerikeri is fortunate to have two big irrigation dams, dating from the 1990s, servicing kiwifruit growers and the town water supply, with another six potential dam sites also identified to expand into. If that eventuates, several blocks in the district, including iwi blocks, have potential for kiwifruit development,” he said.

Stan Robb sees additional potential for kiwifruit elsewhere in the North Island, though cautions that there will be pitfalls and limitations around expansion.

“We already have some areas in Waikato successfully growing kiwifruit, as well as pockets of South Auckland, North Auckland and Gisborne. There is a large, beautiful orchard in Te Awamutu, and Whanganui was actually the first place in New Zealand to grow kiwifruit, so theoretically there are many possibilities to add new regions to the sector.

“However, challenges include the level of certainty you will need to be able to set up a new orchard that will produce year in year out, and pay back the initial outlay. In attempting to do that, you also need the access to kiwifruit infrastructure, including packhouses, labour and contractors, all of which is necessary to keep the business viable. Critical mass and bold investment is required to support all that. Those things do not just happen overnight. They are a more gradual process,” he said.

Where these properties have most recently been used for dairy, horticulture investors are prepared to pay a generous premium based on the prospect of land use change.

Helping grow the country 11

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North Island Activity in the North Island’s summer dairy property sector was light, with sales statistics at or near record lows. However, several North Island sheep and beef farms sold well.

Grassy Downs, a 286 hectare, Tauwhare, Waikato farm, carrying around 4500 stock units, sold prior to Christmas, with the main block selling for $16,000 per hectare and cropping capable flats for $60,000 per hectare.

Hauiti, a 474 hectare Mahoenui, King Country farm sold in January firm on local values.

Tahuna, a 580 hectare predominantly flat Waipawa, Hawke’s Bay property sold in early November to a local farming family.

Brookfields, a 241 hectare Te Pohue, Hawke’s Bay farm sold well prior to Christmas.

Values for premium Bay of Plenty gold kiwifruit orchards sit around $1.2 million per canopy hectare, and beyond traditional kiwifruit country, a 9.86 hectare orchard at Haumoana, near Clive in Hawke’s Bay, sold in early February for $10 million.

Connecting people with property 13

Kerikeri, Far North

G3 Quality Throughout

Price by Negotiation

• Immaculate three bedroom home with great outlook • Easy care gardens and large home orchard • 15m x 9m all steel workshop with additional concrete pad • Two bay half round barn and 6m x 5m additional implement shed • 3.64 ca/ha of G3 producing 59,000 trays • 0.35 ca/ha of Haywood green and approximately 0.5ha of bare land • 5 ha of G3 license for further plantings.

Plus GST (if any)

www.pggwre.co.nz/KER30032

Rex Robb

Andrew Ludbrook

B 09 407 4838 | M 027 441 1383 | kerikeri@pggwre.co.nz

B 09 407 4833 | M 027 254 4784 | aludbrook@pggwrightson.co.nz

14 New Zealand's leading rural real estate company

Te Kopuru, Northland

Very Picturesque Property Beautiful property overlooking the Kaipara Harbour and the Northern Wairoa River 193.4472 hectares in eight titles Large four bedroom family home with great elevation which gives excellent views of the surrounding farm land and river 21 ASHB shed, multiple other sheds Milking 240 cows plus rearing 322 calves Second two bedroom dwelling for workers accommodation.

Price on Application Plus GST (if any)

www.pggwre.co.nz/DAG28994

Ron Grbin B 09 439 3354 | M 027 471 6388 | rgrbin@pggwrightson.co.nz

Helping grow the country 15

Arapohue, Northland

Dairy Farm and Support Unit A dairy farm that can be purchased as a full dairy farm or split into different titles 108 hectares with the two homes, as a dairy farm 118 hectare support block (across the road) 64 hectares with second home and cowshed 42 hectares with main home (These areas could be made bigger or smaller depending on what would suit you - call me to discuss options).

Megan Browning B 09 439 3344 | M 027 668 8468 | mbrowning@pggwrightson.co.nz

16 New Zealand's leading rural real estate company

Price on Application Plus GST (if any)

www.pggwre.co.nz/DAG29967

Tomarata, North Auckland

Best of the Best

Price by Negotiation

Highly productive, nearly entirely flat, 59ha unit is on some of the most productive soils in the region. 20 ASHB with rectangle yard, new chiller unit, second calf milk vat with separate chilling. Five bay implement shed with adjoining calf shed, large implement/hay shed, new four bay round barn. Excellent quality deep water bore and raceway network. Lovely large three bedroom, two bathroom home with wood burner and heat pump. 180m² garage workshop and large two bay garage. Located adjacent to the desirable Tomarata School, this property really is the "best of the best". Enquire now!

Plus GST (if any) 3

2

3

www.pggwre.co.nz/WEL29495

Scott Tapp B 09 423 9717 | M 021 418 161 | scott.tapp@pggwrightson.co.nz

Helping grow the country 17

Ararua, Northland

Large Affordable Dairy/Beef Farm

$4.15M

356.5635ha in nine titles. Predominantly easy rolling to medium contour with a small amount of steep. 32 ASHB shed with in-shed feeding, modern eight bay calf shed, five bay implement shed. Feed pad with bins, two loafing/calving pads, limestone quarry on farm. Four bedroom main home plus three more dwellings. Currently milking approx 420 cows, with a best production of 160,000kg MS. Regular cropping and re-grassing means a large percentage of the farm has strong pasture and is well raced with a reliable water system throughout. This represents very good buying.

Plus GST (if any)

Scott Tapp B 09 423 9717 | M 021 418 161 | scott.tapp@pggwrightson.co.nz

18 New Zealand's leading rural real estate company

4

1

1

www.pggwre.co.nz/WEL28558

Awhitu, South Auckland

Charm of Yesteryear

Tender

Woodville is a versatile 103 hectare estate with a picture-book setting, offering privacy and peacefulness. A full range of infrastructure including sheds: a 10 ASHB shed, six bay implement shed, tractor shed and hay shed. Farm water supplied by spring water. A modernised four bedroom Villa set in park-like grounds. There is future subdivision potential by covenanting the established native bush. The property is in two titles and has a large stand of native bush with commanding kauri trees. Endless possibilities for dairy farming, dairy support, beef finishing, horse agistment, wedding venue and

Plus GST (if any) (Unless Sold By Private Treaty) Closes 4.00pm, Thursday 14 March 4

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www.pggwre.co.nz/PUK29843

Adrian van Mil B 09 237 2041 | M 027 473 3632 | avanmil@pggwrightson.co.nz

Helping grow the country 19

Pukekawa, Waikato

Pukekawa Pasture

Price by Negotiation

Very attractive 73ha of rolling contour situated privately off Sharpe Road in Pukekawa.

With some hay county this property is well fenced and has a good water system with the majority of troughs gravity fed from a tank. The tank and other troughs is supplied from a bore. Fenced into about 17 paddocks with good traditional post and batten with a hotwire and some paddocks subdivided with two-wire electric. Improvements include good cattle yards with loading race and drenching race with headbale, good sheep yards and a small one stand wool-shed located in a half-round shed.

Plus GST (if any)

Richard Wright B 09 237 2040 | M 027 454 6000 | richardwright@pggwrightson.co.nz

20 New Zealand's leading rural real estate company

www.pggwre.co.nz/PUK28793

Legacy A sheep and beef property with more to offer...

Helping grow the country 21

pggwre.co.nz/PUK28432 | Mark Needham - 027 704 6833 | Andrian van Mil - 027 473 3632

Munro family draws a line under 144 year South Auckland legacy In 1875 the Munro family first came to Clevedon. Four brothers arrived in Auckland from Scotland. Landing on the banks of the Wairoa River with other settlers, they started their life in a new land. Charles became the village butcher, Jack the village blacksmith, while the remaining two took up parcels of land. George Munro took on a farm on the river flat. He had a heart condition, so the easier contours suited him better. Brother Hugh, the fitter of the two, went higher up the valley.

Four generations later, in 1963, Hughs’ great granddaughter, Helen Keane and her husband Graham took over the farm that Hugh Munro had established and Helen’s father Alec had been farming. By this stage a sheep and beef property, they farmed it successfully until Graham died in 2017.

Now 81, Helen is ready to retire and has decided to sell the farm that has provided for the family for 144 years.

Mark Needham and Adrian van Mil of PGG Wrightson Real Estate, Pukekohe are looking

after the sale of the 127 hectare farm, which is in two titles. Mark says it is rare for a property of this size, and just 46 kilometres south east of central Auckland, to come to the market.

“Most recently operating as a sheep and beef finishing farm, the property is located six kilometres south of Clevedon, and well situated relative to all the amenities, towns and recreational pursuits the region has to offer. A new owner has the opportunity to either purchase the whole farm or one of the two titles, which are 72 hectares and 55 hectares respectively. Under the Unitary Plan there is potential to subdivide further in the future.

“In recent times a significant amount of subdivision has been undertaken in the district, creating lifestyle blocks of various sizes, including bush lots and some rural residential holdings. This is one future option for a new owner,” he says.

Helen says her family always farmed with respect for nature. “That goes back right to the start. My father Alec, his father Hugh,

22 New Zealand’s leading rural real estate company

along with many of the uncles and great uncles, took the view that we don’t own the property, rather we are its custodians. That same philosophy has been passed down, with a pride in the improvements and the preservation of significant ecological areas and waterways,” she says.

When the Munros first arrived, they were faced with the challenge of breaking in the land, as Helen explains.

“It was in gorse and ti tree. They burnt then cut it. They used a team of horses to crush it.

“For building purposes, the early generations took some of the kauri for construction, including the materials for the original homestead. Timber was pit-sawn on the property. That original house was built to last and was still standing 25 years ago, having housed and witnessed the birth of several generations of the family, before it was replaced with the present house. Timber from the property was also used for several churches and halls in the district. However, my father and my grandfather were both

interested in nature and keen to look after native species. They fenced blocks and re-planted them.

“During the time that Graham and I farmed, our proudest achievement was clearing the remaining gorse out of most of the gullies where it was still present,” she says.

A mature kauri, dating back hundreds of years and established well before the Munros arrived, still holds pride of place on the farm.

Likely one of the largest trees in the Auckland region, its trunk has a girth of more than ten metres and to the top branch it stands over 30 metres tall.

Helen’s mother, Christina Cathleen Lilburne, grew up on a farm in Moumoukai, on the other side of Hunua, which went under the Mangatawhiri Dam in the 1970s. Helen said Christina and Alec met at a dance.

“They used to ride horses to the dance, tether them up outside the dance hall, dance all night, then ride home in the morning.

“During World War Two, my father had two farms to manage, looking after the Lilburne

farm in Moumoukai that belonged to his inlaws, as well as their own farm. When half the men in the district left to fight in the war, the ones who were left behind had to do twice the work. That was just the expected thing at the time,” she says.

Through most of the 55 years that Helen and Graham farmed it, the property ran a flock of over 1,000 head of breeding ewes; initially Romney then Perendales. In the late 1990s they switched to cattle, running a herd of around 100.

A pasture renewal programme, reseeding with lotus major and clovers, was part of Helen and Graham’s management of the farm, with the hay and silage harvested there remaining on the property, building up an excellent seed bank. Ongoing weed control has also ensured that invasive weed species are hit early, to remove competition for pasture and maintain a park-like landscape.

In recent time a significant amount of subdivision has been undertaken in the district, creating lifestyle blocks of various sizes, including bush lots and some rural residential holdings. This is one future option for a new owner

Although it is time to move on, Helen says she will miss the farm’s open spaces.

“I’m not an indoor person,” she says.

Helping grow the country 23

Tirohia, Hauraki

Run-Off Grazing Block Currently used as a dairy support for growing maize Good water supply being town water supply Virtually all of the block is mowable Good two-bay 1/2 round hay barn Cattle yards.

Allister Coombe M 027 507 7622 | allister.coombe@pggwrightson.co.nz

24 New Zealand's leading rural real estate company

$865,000 Plus GST (if any)

www.pggwre.co.nz/MOR29993

Te Akau, Waikato

Coastal Trophy Cattle Country

Price by Negotiation

This 790ha (approx) property is currently a large scale beef finishing farm running bulls and steers with a level of infrastructure that cannot be faulted. The farm is subdivided into approx 130 paddocks all fed off a well thought out race system. All waterways are fenced off internally as well as the 20 plus kilometres of Raglan Harbour front. The property features four homes all very well presented, two are large six bedroom homes and two cottages. A dream property in 14 titles, with scale, aesthetics and strong productive land and around 60km to Hamilton.

Plus GST (if any) 6

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www.pggwre.co.nz/HAM28362

Richard Thomson M 027 294 8625 | richard.thomson@pggwrightson.co.nz

Helping grow the country 25

Te Mata, Raglan

Productive Desirable Farm

$2.45M

A productive 83ha grazing/finishing block in Te Mata near Raglan, suitable as a stand alone grazing block or a dairy support block. Over half of the farm could be mown for silage and the rest is gentle rolling hill, all easily fertilised from the ground. The property features a comfortable 1930's four bedroom home plus office, two bathrooms, two living areas, set in mature grounds with beautiful trees and a tennis court. There are many sheds to store farm equipment, wool-shed and good set of cattle yards. Very reliable water supply reticulated to a trough in each paddock.

Plus GST (if any)

Richard Thomson M 027 294 8625 | richard.thomson@pggwrightson.co.nz

26 New Zealand's leading rural real estate company

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www.pggwre.co.nz/HAM27988

Te Awamutu, Waikato

Picturesque and Productive

$7.5M

• 177ha. Good mix of contour - excellent infrastructure • High production per cow and per hectare • Five homes all compliant with requirements, plus multiple titles • 36 ASHB in good order, Millfos SCR Technology • Contact the agent for a comprehensive property brochure • Smaller parcels of land a possibility • Our Vendors will consider all options.

Plus GST (if any) 4

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www.pggwre.co.nz/HAM29086

John Sisley M 027 475 9808 | jsisley@pggwrightson.co.nz

Helping grow the country 27

Te Awamutu, Waikato

Priced Right - 73ha

$3.3M

• Central Waikato Dairy Farm • Cruickshank Road - Te Awamutu District • Easily operated one man unit • 73ha with great infrastructure • 36 ASHB and feed pad • Tidy three bedroom home • Excellent race and water.

Plus GST (if any)

John Sisley M 027 475 9808 | jsisley@pggwrightson.co.nz

28 New Zealand's leading rural real estate company

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www.pggwre.co.nz/HAM30033

Matamata, Waikato

Top of the Tower

Price by Negotiation

If it is location and views you are looking for, this may just be the property for you.

Situated only 14km from Matamata with stunning views of the Kaimai Ranges and consisting of 24.3ha of mostly flat contour bare land with sandy silt loam soils, options are a plenty. It is currently being run in conjunction with the neighbouring dairy farm with strong fertiliser and pasture management. Whether you are looking for a support block, cropping land or a spot to build your dream home call us to make a time to view this prime piece of real estate.

Plus GST (if any)

www.pggwre.co.nz/MAT29235

Trevor Kenny

Peter Donnelly

B 07 888 4572 | M 021 791 643 | trevor.kenny@pggwrightson.co.nz

B 07 888 4572 | M 021 449 559 | pdonnelly@pggwrightson.co.nz

Helping grow the country 29

Matamata, Waikato

Maize n' Graze

Price by Negotiation

• Secure your grazing and supplement requirements with this 48ha parcel of land • Extremely well located on a no-exit road approximately 4km from Matamata • Currently run as a dairy farm in conjunction with a 29ha block • The contour and soils make it ideally suited for cropping, grazing or dairy support • Infrastructure includes a 24ASHB cowshed and implement/calf shed • A four bedroom bungalow completes the picture.

Plus GST (if any) 4

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www.pggwre.co.nz/MAT29574

Trevor Kenny

Peter Donnelly

B 07 888 4572 | M 021 791 643 | trevor.kenny@pggwrightson.co.nz

B 07 888 4572 | M 021 449 559 | pdonnelly@pggwrightson.co.nz

30 New Zealand's leading rural real estate company

Pukewera Road, Waihi

Grazing/Finishing Unit in Waihi

Deadline Private Treaty

A rare opportunity to secure yourself an excellent farm in the highly desirable summer safe Waihi area.

84.8143 ha (209 acres more or less) of medium contour divided into 63 paddocks for easy stock rotation. Free draining Waihi ash soil and a good fertiliser history. All paddocks are supported by gravity fed trough water.

Well fenced paddocks and waterways (which are planted in natives), metal races.

Cattleyards and good sized barn.

(Unless Sold Prior) Closes 4.00pm, Friday 15 March

www.pggwre.co.nz/WAH29739

Contact agent for an information memorandum.

Lester Mullan

Mike Matutinovich

M 021 121 4940 | lester.mullan@pggwrightson.co.nz

B 07 863 6587 | M 027 474 5345 | mmatutinovich@pggwrightson.co.nz

Helping grow the country 31

Tauranga, Bay of Plenty

Lifestyle, Location and Income!

Price by Negotiation

This gem of a property, ring fenced by native bush and trees, sits peacefully on a quiet road close to Tauranga and the Mount offering various lifestyle and income options.

Comprising of 12.75ha of flat to easy contour with central lane dissecting 29 paddocks.

Currently run as a specialist calf rearing operation, up to 560 calves reared to 100kg. A handful of sheep and beef cattle along with two large Clydesdale horses complete the picture. Fencing and water is of a high standard and the property is religiously fertilised.

Infrastructure consists of a very well presented three double bedroom homestead,

Plus GST (if any)

Trevor Kenny

Peter Donnelly

M 021 791 643 | trevor.kenny@pggwrightson.co.nz

M 021 449 559 | pdonnelly@pggwrightson.co.nz

32 New Zealand's leading rural real estate company

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www.pggwre.co.nz/MAT29612

Te Puna, Bay Of Plenty

Harbourfront Hort Land

Tender

Five generations have enjoyed this 10.5 hectare, waterfront, Te Puna paradise.

Approx 8ha, perfectly sheltered, north facing, plantable land for avos or G3 kiwifruit.

Five bedroom, two bathroom brick home sits proudly with a great harbour view. This home now needs a little polish, it is not over capitalised. Around 2ha of significant wetland and harbour margin deems subdivision into two additional parcels likely. Then cut off the house and another section. Create a perfect production block. This is as good as it gets.

GST Inclusive (Unless Sold By Private Treaty) Closes 4.00pm, Wednesday 27 March 5

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www.pggwre.co.nz/TAR30016

Andrew Fowler B 07 571 5797 | M 027 275 2244 | afowler@pggwrightson.co.nz

Helping grow the country 33

Te Puna, Bay Of Plenty

Three Streams and Hort Options

Price by Negotiation

• 2-3ha of ideal, gentle, north facing horticultural land • Two plus hectares of wetlands, could be conserved and planted to allow two extra lots • Stunning house sites with excellent views • Two road entrances • Exclusive bore and tank gives water to seven paddocks • Half round barn and yards are great improvements • Exclusive, no exit, country road address.

Plus GST (if any)

Andrew Fowler B 07 571 5797 | M 027 275 2244 | afowler@pggwrightson.co.nz

34 New Zealand's leading rural real estate company

www.pggwre.co.nz/TAR29334

Pahoia, Bay Of Plenty

Fabulous Farmlet Looking for a New Family

Price by Negotiation

Big sea views, privacy and shelter from a wonderfully landscaped large and modern family home. Tracks all over the farm ensure kids are entertained on bikes and horses.

The 8.236ha is essentially an entire valley with a bit of flat horticultural land up the top on each side as well as around the house, cottage and sheds. A sweeping concrete driveway leads to a beautiful, north facing and open plan home sitting centre stage.

Large glass doors downstairs open to the outside lawn and landscaped gardens.

Plus GST (if any) 4

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www.pggwre.co.nz/TAR29466

Andrew Fowler B 07 571 5797 | M 027 275 2244 | afowler@pggwrightson.co.nz

Helping grow the country 35

Te Puke, Western Bay of Plenty

One of the Best

Tender

When one of the very best comes to the market you have to react quickly.

• 10.1890 hectares total area • 3.04 can ha Hayward green kiwifruit • 3.05 SunGold G3 kiwifruit • Expected early start with high TZG • Superb contour • Sheltered block, excellent structures.

Plus GST (if any) (Unless Sold By Private Treaty) Closes 4.00pm, Thursday 28 March 7 Jocelyn Street, Te Puke 3

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www.pggwre.co.nz/TEP30014

David McLaren AREINZ

Karen McLaren

B 07 573 5888 | M 027 223 3366 | dmclaren@pggwrightson.co.nz

M 027 555 0421 | karen.mclaren@pggwrightson.co.nz

36 New Zealand's leading rural real estate company

Te Puke, Western Bay of Plenty

What Lies Beyond

Tender

• 2.16 ha total area • Approx. 319m² contemporary, architecturally designed home • Set amongst huge specimen trees and established gardens • Very private, secluded property setting • In-ground pool and tennis court • 0.8 can ha of SunGold G3 kiwifruit • Excellent income expectation.

(Plus GST if any) (Unless Sold By Private Treaty) Closes 4.00pm, Thursday 28 March 7 Jocelyn Street, Te Puke 3

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www.pggwre.co.nz/TEP29947

David McLaren AREINZ

Karen McLaren

B 07 573 5888 | M 027 223 3366 | dmclaren@pggwrightson.co.nz

M 027 555 0421 | karen.mclaren@pggwrightson.co.nz

Helping grow the country 37

Galatea, Bay of Plenty

Above Average Returns Dairy - 71.8823 Hectares All flat, 50ha irrigated - remaining area on river flats assuring summer production Best production 89,000kgMS, milking 195 cows Very good standard of improvements over all the property, 20 ASHB shed with inshed feeding system Comfortable, well maintained four bedroom, two lounges family home with surround decking, additional self-contained sleep-out and garage Galatea - the place to farm for great return on capital.

Phil Goldsmith B 07 307 1620 | M 027 494 1844 | pgoldsmith@pggwrightson.co.nz

38 New Zealand's leading rural real estate company

Price by Negotiation Plus GST (if any)

www.pggwre.co.nz/WHK29316

Galatea, Bay of Plenty

A Serious Consideration - 86.3498 Hectares All flat gently sloping land Best production of 100,292kgMS -2015/16 season with herd wintered on farm Three year avg production 96,569kgMS. One person milks 220 cows using 28 bail rotary with MCR's Spacious family home with four bedrooms, separate lounge, plus one bedroom cottage.

Price by Negotiation Plus GST (if any)

www.pggwre.co.nz/WHK29695

Phil Goldsmith B 07 307 1620 | M 027 494 1844 | pgoldsmith@pggwrightson.co.nz

Helping grow the country 39

Oruanui, Lake Taupo

Puketotara

Auction

The home of race horses, this fine property has seven hectares (17.7 acres) of easy rolling pasture and a stand of native bush encircling a charming homestead. This is the first time the property has been on the market for over 20 years and the current owners have lavished years of love on it. Thanks to them the native bush has had time to re-establish and the home has an inviting ambience with its sarked ceilings, delightful quirky corners for quiet computer work, knitting or painting and two incredibly spacious living rooms, one of which has a sunny balcony. This property is truly a one-off. It's special!

(Unless Sold Prior) 2.00pm, Saturday 30 March On Site

Jil Richardson AREINZ

Gary Richardson

M 027 475 6636 | jil.richardson@pggwrightson.co.nz

M 027 478 3193 | jil-gary@pggwrightson.co.nz

40 New Zealand's leading rural real estate company

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www.pggwre.co.nz/TAU30028

Demand Pushing prices up

Several sheep and beef farms have sold in the past few months, with a lift in prices suggesting that confidence in the sector remains strong.

Regions where significant sheep and beef property activity has taken place recently include west Waikato, the King Country, Hawke’s Bay, North Canterbury and South Otago.

Recent sales include: •

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Grassy Downs, a 286 hectare, Tauwhare, Waikato farm, carrying around 4,500 stock units and offered for the first time in 58 years, sold prior to Christmas after a tender process, in two separate transactions, a downland block selling for $16,000 per hectare and cropping capable flats for $60,000 per hectare.

Hauiti, a 474 hectare Mahoenui, King Country breeding and finishing farm,

in the same family for the last 60 years, which sold in January firm on local values.

•

Tahuna, a 580 hectare predominantly flat Waipawa, Hawke’s Bay property changed hands in early November, bought by a local farming family after a tender process.

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Brookfields, a 241 hectare Te Pohue, Hawke’s Bay farm that sold just prior to Christmas firm on current values.

•

Big Bush, a 339 hectare Nelson Lakes sheep and beef farm, also changed hands just prior to Christmas firm on recent values shortly after a tender process.

•

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Mandamus Downs, an 844 hectare Culverden, North Canterbury farm sold in December firm on local values, after being held in the same family for 110 years.

Manahune, a 249 hectare Glenmark, North Canterbury breeding and finishing property, specialising in prime lamb production, sold after 102 years in the same family in November following an auction campaign.

•

Waiau Pastures, a 400 hectare irrigated Parnassus, North Canterbury property sold in early February.

•

Lambourne, a 353 hectare Clydevale, South Otago property, carrying approximately 4,000 stock units, changed hands in late October for around $20,000 per hectare.

•

Waikerikeri Run, a 916 hectare hill country grazing property on the Dunstan Range, with a large QEII covenant, which sold satisfactorily in January after a tender process.

One thing that might hold back sheep and beef property transactions during the autumn is the sector’s own strength.

With the positive fundamentals in the red meat sector, some farmers who might otherwise consider selling will be tempted to hold on and reap the cashflow rewards from the returns on offer. This may not be wise.

Farmers pondering retirement would be well advised to act now in order to capitalise on the many willing buyers looking for quality farms this autumn.

Timing is everything.

Connecting people with property 41

Puketapu, Hawke's Bay

Good Sized Cropping Block Ready for Further Development

Tender

18.013ha (44.51 acres) off Swamp Road in the Puketapu area. Established orchards, new large scale pip fruit operations and cash cropping businesses on all sides. Currently growing maize and squash. A new bore has been established, consented for 3894 cubic metres per week at a take of 21.0 litres per second. Some new tile drainage is in place on the maize block. The swamp road area is currently experiencing significant new investment. Take advantage of this opportunity and secure one of the few large parcels of land currently available.

Plus GST (if any) (Unless Sold By Private Treaty) Closes 4.00pm, Wednesday 24 April

www.pggwre.co.nz/HAS28314

Paul Harper

Tom O'Sullivan

M 027 494 4854 | H 06 874 3849 | paul.harper@pggwrightson.co.nz

B 06 872 9714 | M 027 484 4340 | tom.osullivan@pggwrightson.co.nz

42 New Zealand's leading rural real estate company

Ohau, Horowhenua

Horowhenua Grazing Land

$2.4M

130.462 hectares (322.63 acres) Top of Ohau on Florida Road rarely available to purchase, big block grazing land currently dairy support for nearby dairy owners. New farming strategy means no longer required from 1 June 2019. Undulating and rising in the east to the Tararua National Park. Mixture of medium to steeper land (say 40%), balance plateaus and sidings.

Improved races, fencing, waterlines and troughs. No buildings. New owners will need to arrange permanent water source (many springs) and power supply for the electrics.

Plus GST (if any)

www.pggwre.co.nz/LEV30015

Joe Havill B 06 367 0835 | M 027 437 0169 | joe.havill@pggwrightson.co.nz

Helping grow the country 43

Tauherenikau, South Wairarapa

Tauherenikau - 82ha Looking to establish a tight, stand-alone dairy operation to minimise disease risk? Check out this 82ha runoff at Tauherenikau, with a proven dairy grazing record. Free draining stony silt loam soils, pastures renovated to achieve enviable heifer growth rates. GPS paddocks, ring mains system pumped ex Moroa Water Race. Track access from SH2 and two-wire electric fencing. Good cattle yards and loading race, plus a 150mm bore, ideal for new home, if building.

Well located, proven production record, high soil fertility. Call John today!

John Murray B 06 377 5181 | M 027 493 3759 | john.murray@pggwrightson.co.nz

44 New Zealand's leading rural real estate company

Expressions of Interest www.pggwre.co.nz/MAS28822

South Island Sheep and beef farms featured heavily among South Island spring and summer transactions.

Big Bush, a 339 hectare Nelson Lakes farm sold just prior to Christmas.

Mandamus Downs, an 844 hectare Culverden, North Canterbury farm sold in December firm on local values, after being held in the same family for 110 years.

Manahune, a 249 hectare Glenmark, North Canterbury farm sold in November.

Waiau Pastures, a 400 hectare irrigated Parnassus, North Canterbury property sold in early February.

Lambourne, a 353 hectare Clydevale, South Otago property, carrying approximately 4000 stock units, changed hands in late October for around $20,000 per hectare.

Waikerikeri Run, a 916 hectare hill country grazing property on the Dunstan Range, with a large QEII covenant, sold in January after a tender process.

Meanwhile, demand for South Island dairy properties is subdued. In Canterbury, values for farms in the most sought after dairy localities have eased between $5,000 and $7,000 per hectare this season.

Connecting people with property 45

Pohara, Tasman

Three Dwellings, Three Titles, Cafe / Winery and Grazing!

$3.55M

This Pohara property has something for everyone. A working farm adjacent to the town boundary and with a huge array of quality improvements including a 234m² homestead, built in 2010, commanding panoramic views over the bay. Kowhatu Estate is a 247.7ha sheep farm, in three titles, with the front title zoned rural residential. There is a second dwelling, the original homestead, and a fully fitted out winery complex, function centre catering for tourist and holiday maker clientele. Multiple income streams in a stunning setting.

Plus GST (if any)

www.pggwre.co.nz/NEL29281

Douglas Smith

Joe Blakiston

M 027 543 2280 | douglasjcsmith@pggwrightson.co.nz

M 027 434 4069 | jblakiston@pggwrightson.co.nz

46 New Zealand's leading rural real estate company

BIG

Bush Crossing over on Nelson Lakes farm as one family enters while another exits the dairy sector

Helping grow the country 47

pggwre.co.nz/BLE29015 | Greg Lyons - 027 579 1233 | Joe Blakiston - 027 434 4069

One family’s aspiration to move into dairying has coincided with another couple’s plans to exit the sector and progress their deer herd. As the two intersected shortly before Christmas, the tenure of Big Bush, a 339 hectare Nelson Lakes sheep and beef property, passed from the former to the latter.

Peter and Sharon Watson previously farmed in Maruia. They have owned the Kikiwa property, which was originally the front country of an 800 hectare station now predominantly in forestry, since 2004. As Peter explains, his association with Big Bush goes back further.

“My parents knew the farm’s owners between the 60s and the 80s. I came here once. I didn’t know then that I would buy the place. It’s a beautiful area, and closer to town than we were. Compared to what we were used to, it’s close to lots of places,” he says.

On the farm the Watsons have overcome several challenges, starting in their first year, when a flood took out the wooden bridge that provided Big Bush’s main access across the Motupiko River.

“We had 150 millimetres of rain overnight, which also washed away two of our major culverts. We couldn’t get trucks to the cattle

yards, so had to load out on the other side of the road, taking cattle through the deer shed and yards.

“Because we have a good relationship with Nelson Forests, which has access for forestry extraction on our top boundary, we were fortunate enough to work with them to reinstate the bridge relatively quickly,” says Peter.

In August 2008 the weather delivered another blow. “We were two feet deep in snow which sat around for two weeks. In Maruia we only ever had a few inches which melted straight away. This fall hit two weeks before lambing. However, we only lost 12 sheep, so came through OK,” he says.

Peter is proud of their production improvements in 15 years. “We have lifted lamb weights and taken our lambing production from 130 to 155 per cent.

We have replaced some of the old fences, particularly the forestry fences, which have gone from five wire electric to seven wire post and batten; we’ve done some pasture renewal in the last six years; kept the farm in a tidy shape; and we renovated the house in 2007,” he says.

48 New Zealand’s leading rural real estate company

In August 2011, Peter faced another challenge: a heart attack struck when the pens were full and the shearers were ready to go. Instead of joining them, Peter was in a helicopter heading to Nelson Hospital, where he had a stent implanted.

After that, son Ben came back to help out on the farm, joining the family partnership along with daughter Vanessa. They made a few modifications, including reducing stock numbers, and Peter and Sharon re-evaluated.

“Although sheep and beef has been my passion for 35 years, it’s not necessarily Ben’s passion. He’s more interested in dairy. You need to let the next generation make their own way. We decided to sell the farm so that Ben can follow his passion,” says Peter.

They brought in PGG Wrightson Real Estate Nelson/Marlborough Sales Manager Joe Blakiston, and his colleague Greg Lyons. After initially running a tender process, they put a price on Big Bush, which encouraged David and Sonya Thomas to show their hand. As with Peter, the farm had been on David’s radar for a while.

“I’ve always driven past and thought it would be a nice place to own. When the fixed price

Left to right: Sonya Thomas, David Thomas, Ben Watson, Sharon Watson and Peter Watson

went on, we realised it was within our scope, and decided to take it more seriously,” he says.

Joe gave David and Sonya a tour of Big Bush on a Saturday, they made their offer the following Monday, and it was all signed up shortly after. Previously Matakitaki has been the Thomases’ home, running a large mixed dairy, beef and deer operation with David’s parents and sister.

“I’ve been on the family farm all my life, dairy farming full time for the last 34 years. We also have 500 breeding hinds on different blocks of land, built up initially from trapping wild Matakitaki deer.

“Deer are animals I have always enjoyed working with, at first hunting, more recently farming them. I enjoy working with cows as well, though there is more to life than getting up at 3.30 every morning. We wanted a better work-life balance, which a stronger emphasis on deer will bring,” says David.

Although 58 hectares of Big Bush was deer fenced by previous owners, the Watsons have never run deer, concentrating instead on Hereford/Angus cattle and Romney/Texel sheep; hunting feral deer on neighbouring properties, which include Mt Richmond

Forest Park. David and Sonya plan to change that, and have begun putting in 10 kilometres of deer fencing, even though they don’t take possession until 31 May. The Watsons have given them early access to the property to erect the new fencing, which was an essential aspect for the sale to proceed.

“We will carry on farming sheep and cattle, though want to diversify with the addition of David’s deer. We want to explore the biological benefits of cross grazing three different species and to take that further,” says Sonya, who spent seven years working with the Department of Conservation and also has plans for the property’s 12 wetlands.

“We would like to protect and regenerate them, if possible. Big Bush also has several significant blocks in natives, which we will fence to restore the understory and subcanopy. We’ll also put a strong focus on weed control. I have a passionate dislike of weeds and pests,” she says.

Matakitaki is at the end of a 30 kilometre gravel drive and 99 kilometres by road to Kikiwa. David and Sonya look forward to immersing themselves in their less remote new community.

You need to let the next generation make their own way.

“I’ve always wanted to be a volunteer firefighter, though the local fire brigade in Murchison was too far away for me to be of any use,” says David.

Meanwhile, the Watsons are pursuing their dairy plans on a property at Canvastown, in the Rai Valley. Ben will call the shots, leaving his father as ‘the boy.’

“He’ll be telling me what to do. I’m not sure how well that is going to work. I’ve been telling people what to do for more than 30 years. I’d like to try fishing. I’ve never had the opportunity to fish before, it’s always pig or deer hunting, so maybe I can take it up.

There’s plenty of opportunity for it in the Sounds. Ben says he can’t imagine me fishing.

I told him: ‘Just you watch me!’” says Peter.

Helping grow the country 49

Blenheim, Marlborough

Productive Sauvignon Blanc Opportunity

Enquiries Over $3.65M

Well positioned on the edge of the Blenheim Town boundary is an opportunity to invest in this viticulture production block. The total property is 16ha and features 14ha of flagship Marlborough Sauvignon Blanc plus 1ha of long-term lease vines all planted in 2.5m row spacing. A reliable water source, sheds, workshop and upmarket office/meeting room offer many options for the future. This aesthetically pleasing vineyard will impress you on inspection. Our genuine vendors seek a sale which adds up to an easy purchase decision for a solid investment in the wine industry.

Plus GST (if any)

www.pggwre.co.nz/BLE28191

Joe Blakiston

Greg Lyons

B 03 579 3702 | M 027 434 4069 | jblakiston@pggwrightson.co.nz

B 03 579 1188 | M 027 579 1233 | greg.lyons@pggwrightson.co.nz

50 New Zealand's leading rural real estate company

Wairau Valley, Marlborough

Prime Large Scale Viticultural Development

Deadline Private Treaty

131ha (323 acres) in three titles surrounded by established Wairau Valley vineyards. A water right to irrigate 110 hectares of grapes and a property predominantly of flats with several easy to develop terraces and potential water storage sites. Large scale blocks in this area are being snapped up as corporates look to secure future production so early inspection is recommended. Currently a finishing property the options for an easy conversion to viticulture are obvious.

Plus GST (if any) (Unless Sold Prior) Closes 4.00pm, Monday 29 April

www.pggwre.co.nz/BLE30026

Joe Blakiston

Greg Lyons

B 03 579 3702 | M 027 434 4069 | jblakiston@pggwrightson.co.nz

B 03 579 1188 | M 027 579 1233 | greg.lyons@pggwrightson.co.nz

Helping grow the country 51

Northbank, Marlborough

Irrigated Marlborough Farm – Ready for Grape Development

Deadline Private Treaty

Nestled on productive Northbank flats is 234ha (578 acres) with irrigation infrastructure, proven soils and reliable climate this is ripe for the picking. Cat Creek has been well farmed over many years by the current owners which is evident as you view the property, and the substantial water right to irrigate 150ha of pasture is ample for the 90ha plus identified as being suitable for viticulture. A substantial four bedroom modern homestead, two massive contractors sheds and new cattle yards on the river terrace overlook the farm and complement the remaining grazing land.

Plus GST (if any) (Unless Sold Prior) Closes 4.00pm, Monday 29 April

www.pggwre.co.nz/BLE30022

Joe Blakiston

Mark Terry

B 03 579 3702 | M 027 434 4069 | jblakiston@pggwrightson.co.nz

B 03 579 3659 | M 027 572 2559 | mark.terry@pggwrightson.co.nz

52 New Zealand's leading rural real estate company

Seddon, Marlborough

Exciting Viticultural Development Opportunity

Deadline Private Treaty

An appealing 232ha (574 acres) property which lends itself to growing Sauvignon Blanc in the desirable Awatere Valley with an estimated 110 hectares plantable. A new earth dam with a storage capacity of 250,000mÂł is awaiting final sign off and with a gilt-edged water right your insurance policy is already in place. A unique opportunity to own this stunning property that is in the heart of the Awatere. Climate soil and vineyard planting information available to qualified buyers.

Plus GST (if any) (Unless Sold Prior) Closes 12.00pm, Wednesday 1 May

www.pggwre.co.nz/BLE29477

Inspection strictly by appointment with the sole agents.

Joe Blakiston B 03 579 3702 | M 027 434 4069 | jblakiston@pggwrightson.co.nz

Helping grow the country 53

Broomfield, North Canterbury

The Deans

Price by Negotiation

Versatile, Healthy, Reliable! 705 hectares of mainly limestone hills with tussock downs, offering shelter and great lambing country. With south-facing downs and flats, including approximately 50 hectares irrigated, completing the balance. Significant development over the last six years, includes a substantial amount of new fencing, cattle yards, centre pivot and significant fertiliser application program. Large family home plus selfcontained cottage and two-bedroom sleep-out, plus the usual ancillary buildings and facilities.

Plus GST (if any)

Paul Tapper M 027 224 1300 | ptapper@pggwrightson.co.nz

54 New Zealand's leading rural real estate company

www.pggwre.co.nz/RAN29444

Oxford, North Canterbury

Irrigated Finishing / Dairy

$2.55M

Comprising 89.5923 hectares, this property has been extensively farmed for dairy support, cattle finishing and lamb finishing. Traditionally crops such as wheat, barley and oats have been grown. Irrigation water is provided via the Waimakiriri Irrigation Company and is distributed by two travelling irrigators. There are extensive and well established shelter belts.

Plus GST (if any)

www.pggwre.co.nz/CHR28939

Suitable for multi farming purposes, this is indeed a unique offering.

Peter Crean

Mark Clyne

B 03 341 4315 | M 027 434 4002 | pcrean@pggwrightson.co.nz

B 03 341 4301 | M 027 531 2964 | mark.clyne@pggwrightson.co.nz

Helping grow the country 55

Oxford, North Canterbury

First Farm Dairy Opportunity

Price by Negotiation

• 95.27ha flat property that has been milking cows since 2008 • 50 bail rotary shed with large yard • Pivot irrigation with some K-Line and lateral sprinklers • 595 Waimakariri Irrigation Scheme shares are attached to the property • Simple layout with central lane accessing the 20 paddocks.

Plus GST (if any)

www.pggwre.co.nz/CHR25081

With the property's location within commuting distance to Oxford, Rangiora and Christchurch, the opportunity to secure a small, modern, low-input dairy farm and also work off-farm, presents a unique prospect for intending purchasers.

Peter Crean

Sam Davidson

B 03 341 4315 | M 027 434 4002 | pcrean@pggwrightson.co.nz

B 03 341 4301 | M 027 488 8269 | sdavidson@pggwrightson.co.nz

56 New Zealand's leading rural real estate company

Whataroa, South Westland

See Just What You Can Get for Your Money Here

$3.95M

• 187.90ha freehold (179ha effective) loam soils, good reliable producer.

• 450 cows producing close to 1000kg MS/eff ha • Modern 40 ASHB shed • In-shed grain feeders, silo and pro-track system • Very good infrastructure • Fences, lanes and pastures in good condition • Four-bedroom plus office Summerhill stone homestead.

Plus GST (if any) 4

1

1

www.pggwre.co.nz/GRE2677301

In addition to the 187ha, a quality 90ha runoff approximately 5km from the milking platform is available to buy or lease.

Dave Becker B 03 768 1222 | M 027 222 5184 | dave.becker@pggwrightson.co.nz

Helping grow the country 57

Waiau, North Canterbury

Mt Terako - A Special Property

$4M

Mt Terako is a unique 1415 hectare sheep and beef breeding property traditionally running approx. 2,400 Perendale sheep and approx. 350 Angus cattle. In an aesthetically outstanding location situated on the scenic route between Christchurch and Kaikoura close to Mt Lyford ski field, a special feature of this property is the 391 hectare Queen’s Commonwealth Canopy Covenant area of native bush and scree. Excellent infrastructure includes a modern four-bedroom home incorporating established gardens with picturesque views to the mountains and a full range of farm buildings.

Plus GST (if any) 4

2

www.pggwre.co.nz/CHR29122

Peter Crean

Mark Clyne

B 03 341 4315 | M 027 434 4002 | pcrean@pggwrightson.co.nz

B 03 341 4301 | M 027 531 2964 | mark.clyne@pggwrightson.co.nz

58 New Zealand's leading rural real estate company

102 years of

Manahune pggwre.co.nz/CHR28642 | Peter Crean - 027 434 4002 | Mark Clyne - 027 531 2964

Partnerships - the key to family’s 102 year tenure at Manahune

In 1915 1,021 eager Cantabrians applied for the 25 lots available when the renowned North Canterbury Glenmark Estate was offered in a public ballot. At 8.30pm on 18 June that year, 400 were at the King’s Theatre, Christchurch to watch the ballot. When section three came up, 772 acres of rolling hill country, Alice Louise Thomson’s application was drawn.

Alice was a widow from London, living in Timaru with her two sons Walter Richard and Albert. They had emigrated from England after Alice’s husband Walter Robert Thomson, a printer, had been advised to take a sea voyage to improve his lungs, which were infected with tuberculosis. That advice proved ineffective and in 1907, three years after the young family arrived in New Zealand, Walter

Richard succumbed, leaving his widow to fend for herself and raise the two little boys.

Winning the ballot a few years later turned the family’s fortunes around. Walter and Albert, then aged 20 and 18, travelled by train to Waipara, then cycled cross country to the new farm. Pitching a tent by the creek, the young men offered their labouring services to the neighbours until they had saved enough to fence their own land. Buying 400 ewes, which they did with a loan from Dalgetys, one of PGG Wrightson’s forerunners, was a condition of taking on the balloted land. They called their new farm Manahune, after the Albury, South Canterbury property they had previously worked on, which in turn took the name from a mythological Polynesian tribe.

Helping grow the country 59

Fast forward to 2018 and Alice’s greatgrandson Stu Thomson and his wife Sue have had tenure of Manahune for the previous 24 years. Having brought the family’s century on the property up in 2015, Stu and Sue took the difficult decision to make a big change a couple of years later, as Stu explains.

Farming in partnership has been a strong theme through the generations at Manahune. First Walter and Albert, who broke in and developed the land from scrub and

“We have shifted our lives to Auckland. With three daughters all at university up here, studying for careers that suggest returning to the farm is unlikely, it was time for us to decide what to do. We thought if we were going to make a change, we should do it earlier rather than later and make an adventure of it,” he said.

Stu says in those days Manahune was self-sufficient. “They had a large orchard and farm meat, so avoided suffering some of the hardship of the depression and war years.

Twenty hand-milked cows provided milk and butter, which was sold, as were eggs,” he says.

Albert married Lila Fendall. Trained as a midwife, she was the daughter of the local vicar whose family name remains on one of Christchurch’s best known suburbs.

For the first eight months of their married life they lived in a tent, until a new house was built in 1926. Albert and Lila had five children. Dorothy Cookson was governess to their growing family before she married Walter. They had four children, and a school operated briefly at Manahune for the Thomson youngsters, plus those of a few other local families.

When Stu and Sue took over Manahune, Sue was a fresh arrival from the United States, having grown up in suburban Connecticut, New England, meeting Stu when he was on his OE. “I knew nothing about farming, so to say I had a bit to learn is an understatement. I tried hard to adapt and we were happy farming in North Canterbury. I didn’t get to drive the tractors, though I did learn how to handle the stock,” Sue says.

creek and increasing stock numbers from the original 400 to 800 ewes.

swamp, using two six-horse teams, planting fruit trees and shelter belts, bridging the

60 New Zealand’s leading rural real estate company

“Tragically, Walter was killed in 1944 when, driving his team of draft horses. He lost his balance and hit his head on the plough. Three years later Albert and Lila took a substantial loan to buy out the widowed Dorothy,

Manahune has long enjoyed an enviable reputation as a top livestock property. A good balance of contour, from flat to rolling, to developed downs, with some medium hill, gives it many farming advantages which the Thomsons have used with great skill.

becoming sole owners of Manahune. While that was a big commitment at the time, the wool boom that began in the early 1950s helped their fortunes considerably,” says Stu. Lila was the farm’s strongest personality during those years. Albert died in 1978, while Lila, by this stage known to all as Grannie Thomson, lived at Manahune surrounded by her children and grandchildren until 1995, when she was 98. After leaving the farm, Lila’s final years were spent in the care of her

daughter Alice, her long life, spanning three centuries, coming to an end at the age of 106 years and six months.

“Everyone associated Lila with the family and she was the mainstay of the farm, though her name was never on any ownership title which was a reflection of that era,” says Stu. In 1961, two of Albert and Lila’s sons, Bert and John, and their wives Claire and Valerie, formed a partnership, taking over Manahune’s operation, focusing on lamb and wool production and replacing the horses with an International TD6 and a David Brown tractor.

“John, who was my father, and Bert farmed in partnership for 30 years, focusing on eradicating Nasella tussock, bringing virgin land into production, planting additional shelter and building dams for water and storage. They leased and also purchased neighbouring properties, as well as employing several others on the farm.

“In 1969, Bert and John’s hard work and long hours won them the NZ Royal Agriculture AC Cameron Memorial Award, the first partnership to achieve that recognition.

“Stock capacity was increased with the introduction of the Hurunui County Water Scheme in 1970 which enabled the family to diversify into deer,” says Stu. In 1991, with their respective sons Philip and Stu ready to take on more farm responsibility, Bert and John dissolved the partnership and sub-divided the larger holdings they had accumulated, handing Bert and Philip their more recent acquisitions and leaving John and Valerie as sole owners of Manahune.

When Stu and Sue took over, the farm ran mainly Corriedales. They changed to crossbreds and heavier lambs with higher fat levels to take advantage of the warm country and earlier finishing.

“What we developed was all about prime lamb production. In late November we had our annual on-farm lamb sale. Our farming year was focused on having our lambs in top condition for the sale. Glenmark tends to become very dry in late spring, so lambing early made sense. In our time we saw wool go from being a significant source of income to a break-even exercise, at best. Our breed choices reflected this,” says Sue. Manahune typically had the most lambs and the best prices at Glenmark’s annual sale, as Stu explains.

“A neighbour suggested a change from the normal practice of price-taking at the works.

That was successful in both good and bad climate and pricing seasons.

“In a good-price, grass-market year we made great returns, and in a tough year with little feed, it was a fantastic way to unload the stock and clear the decks early, then sit tight and wait to start again,” he says.

After they made the decision to sell, they brought in Peter Crean and Mark Clyne of PGG Wrightson Real Estate, Christchurch to market Manahune, which by then was a 249 hectare breeding and finishing unit carrying some 3,500 crossbred ewes, producing approximately 5,500 lambs per annum.

Peter Crean says, with the red meat sector in excellent shape, there was plenty of interest.

“Manahune has long enjoyed an enviable reputation as a top livestock property. A good balance of contour, from flat to rolling, to developed downs, with some medium hill, gives it many farming advantages which the Thomsons have used with great skill.

“With sheep and beef returns at a high point, and looking likely to remain so, recent local sales illustrate that willing buyers will come forward for properties that offer scale and productivity. This was the case with Manahune and we were delighted to negotiate a sale to a young local couple highly motivated to take over the farm,” he said.

Although it is the end of an era for the Thomson family, Stu has left with a sense of satisfaction.

“Every farmer I know is dedicated to looking after their land. I hope that Sue and I have left Manahune better than when we took over, as I know my parents and their generation did,” he says.

Helping grow the country 61

Hororata, Canterbury

Sheep, Cropping and Cattle Potential

Price by Negotiation

• 167.7398 hectares of mainly flat to rolling hill country in three titles • The Claremont soils give options for cropping, sheep and cattle grazing or deer • Fenced into 36 paddocks with a central lane system • 13 units of water off the Hororata Acheron Scheme • A tidy, recently renovated three bedroom cottage is in a sheltered setting • Set of sheep yards, cattle yards, three haysheds and other sundry sheds • Has been run in conjunction with another property as a sheep grazing property.

Plus GST (if any)

www.pggwre.co.nz/DAR29945

Min Cookson

Sam Davidson

M 027 249 5417 | min.cookson@pggwrightson.co.nz

M 027 488 8269 | sdavidson@pggwrightson.co.nz

62 New Zealand's leading rural real estate company

Ashburton, Mid Canterbury

Fairfield Road, Newland

Price by Negotiation

Outstanding arable / lamb finishing / deer unit Water consents, three bores / 230 l.p.s, BCI 23 l.p.s Three stand wool shed, deer shed, covered yards plus other farm buildings Excellent homestead with swimming pool and tennis court plus second house 1,660 tonnes of grain storage Various options to purchase.

Robin Ford

Tim Gallagher

M 027 433 6883 | rford@pggwrightson.co.nz

M 027 801 2888 | tim.gallagher@pggwrightson.co.nz

Plus GST (if any) 4

2

4

www.pggwre.co.nz/ASH29197

Helping grow the country 63

Chertsey, Mid Canterbury

Iconic Landmark Property - Snake Gully Farm 202ha - the best of Chertsey silt loams Held by the Copland family for many years Irrigated by Acton Scheme and two wells Excellent homestead, cottage, support buildings and silos Top yields of cereals, grass seed, legumes and clover. Regularly grows specialist and export crops Top farm, well fenced, sheltered and laned specimen trees.

Hunter Doig M 027 220 1004 | hdoig@pggwrightson.co.nz

64 New Zealand's leading rural real estate company

Price by Negotiation Plus GST (if any) 4

1

2

www.pggwre.co.nz/TIM27923

Geraldine, South Canterbury

Be Prepared to be Impressed - 42 Hectares Substantial and meticulously presented property offering a multitude of options to any discerning purchaser Large open plan kitchen/dining/living with separate formal lounge Three double bedrooms with en suites and a self-contained one bedroom cottage Private landscaped gardens and lawns Deer fenced fertile and productive land. Extensive sheds and ancillary buildings Entire property exudes quality and attention to detail.

Price by Negotiation Plus GST (if any) 4

3

3

www.pggwre.co.nz/TIM29907

Simon Richards M 027 457 0990 | simon.richards@pggwrightson.co.nz

Helping grow the country 65

Waimate, South Canterbury

Your Next Step on the Farming Ladder - 158ha

Deadline Private Treaty

Entry level self-contained dairy in its fourth year of production improving year on year.

• 100 hectares platform milking 320 cows • 40 ASHB shed with automatic cup removers • Irrigated via the very reliable Waihao Downs scheme • Production 130,000kgMS 2017-18 and budgeted 138,000kgMS 2018-19, self-contained • High standard of lanes and subdivision • Good implement shedding, workshop, calf sheds and cattle yards.

Plus GST (if any) (Unless Sold Prior) Buyer enquiry over $3.8M Closes 1.00pm, Thursday 21 March 3

www.pggwre.co.nz/TIM29948

Simon Richards

Calvin Leen

M 027 457 0990 | simon.richards@pggwrightson.co.nz

M 027 453 0950 | calvin.leen@pggwrightson.co.nz

66 New Zealand's leading rural real estate company

1

Ngapara, North Otago

Purchase/Deferred Settlement/Lease

Price by Negotiation

• 139.0748ha Freehold, three titles, rolling fertile land • 450 cows, 179,000 kgMS target 2018/19 • Spray irrigation, pivot, fixed grid and K-line • 40 ASHB shed, A.C.R's, Waikato plant, meal feeding, auto backing gates • Homestead with four plus bedrooms and a three bedroom dwelling • Extensive attractive shelter a feature • Purchase options.

Plus GST (if any)

www.pggwre.co.nz/OAM27046

Dave Finlay

Dave Heffernan

B 03 433 1340 | M 027 433 5210 | dfinlay@pggwrightson.co.nz

B 03 433 1340 | M 027 215 8666 | david.heffernan@pggwrightson.co.nz

Helping grow the country 67

Oamaru, North Otago

Commercial Gold

$520,000

Location of this property in the heart of Oamaru's CBD makes it commercial gold.

Business 3 Zoned Property land area is 1012m² occupied by a large house which has been converted for two businesses to operate from the premises Excellent hard surface driveway on eastern side of house which leads to a large parking area at the back of house with parking for a large vehicle fleet Large three bay garage with roll up lockable doors.

Plus GST (if any)

Dave Heffernan B 03 433 1340 | M 027 215 8666 | david.heffernan@pggwrightson.co.nz

68 New Zealand's leading rural real estate company

www.pggwre.co.nz/OAM29984

Becks, Central Otago

Re-Developed Finishing Unit

$3.2M

169.0827 hectares (three freehold titles) Very comfortable 1980's three bedroom Oamaru Stone home Various outbuildings including shearing shed, sheep yards (400NP) Near new cattle yards (140 cattle) and three bay hay barn Situated just 22km from Omakau and 48km from Clyde and Alexandra Currently run as a bull beef finishing unit with three pivots and k-line.

Plus GST (if any) 3

1

1

www.pggwre.co.nz/ALE26605

Shaun O'Docherty

Mike Direen

B 03 440 2387 | M 021 708 165 | sodocherty@pggwrightson.co.nz

B 03 440 2382 | M 027 434 0087 | mdireen@pggwrightson.co.nz

Helping grow the country 69

Waikerikeri, Central Otago

A Blank Canvas

Price by Negotiation

A blank canvas property in a fantastic rural location close to town Approximately 7km from Clyde and Alexandra in Waikerikeri Valley Sizeable enough for sheep, beef or dairy grazing Also suitable for horticulture or viticulture Flat to easy rolling contour with generous water quota Outstanding outlook and set in an area fast becoming a small community.

Plus GST (if any)

www.pggwre.co.nz/ALE28490

Shaun O'Docherty

Mike Direen

B 03 440 2387 | M 021 708 165 | sodocherty@pggwrightson.co.nz

B 03 440 2382 | M 027 434 0087 | mdireen@pggwrightson.co.nz

70 New Zealand's leading rural real estate company

Oturehua, Central Otago

Outstanding Presentation

$2.9M

Extremely well presented 489 hectare property Two very well maintained and presented dwellings Opportunity to tap into Otago Central Rail Trail accommodation Outstanding balance of irrigated flat paddocks and hill country Various outbuildings of high standard A very high producing property and a must to view!

Plus GST (if any) 3

2

1

www.pggwre.co.nz/ALE26030

Mike Direen

Shaun O'Docherty

B 03 440 2382 | M 027 434 0087 | mdireen@pggwrightson.co.nz

B 03 440 2387 | M 021 708 165 | sodocherty@pggwrightson.co.nz

Helping grow the country 71

Chatto Creek, Central Otago

Beef Finishing/Dairy Support

$9M

This property has been very well developed over the past eight years and is now producing some of the best results in the area. The property has a number of options including finishing (beef or lamb), dairy support or a breeding unit. Very well balanced with a good proportion of easy rolling irrigated flats to rolling hill with a near new four bedroom home.

Plus GST (if any) 4

2

2

www.pggwre.co.nz/ALE28941

Call now for more information or to have a look over this very well presented property.

Shaun O'Docherty

Mike Direen

B 03 440 2387 | M 021 708 165 | sodocherty@pggwrightson.co.nz

B 03 440 2382 | M 027 434 0087 | mdireen@pggwrightson.co.nz

72 New Zealand's leading rural real estate company

Wanaka Surrounds, Central Otago

Exclusive Land Investment Opportunity Consisting of two freehold titles comprising 224.0314 hectares, this picturesque property situated in the Maungawera Valley Road, Albert Town/Wanaka region, is only 8.5km from Lake Hawea, 12km from the thriving tourist township of Wanaka and a comfortable scenic drive to the Queenstown International Airport.

Price by Negotiation www.pggwre.co.nz/DUN29742

Improvements include a deer shed and yards, two hay barns and a pump shed.

In addition to the existing farming operation of livestock finishing and crop production this well presented property also offers diverse lifestyle opportunities.

Craig Bates

Trevor Norman

M 027 489 4361 | craig.bates@pggwrightson.co.nz

M 027 435 5433 | trevor.norman@pggwrightson.co.nz

Helping grow the country 73

Wedderburn, Central Otago

Commercial Beekeeping Business

$2.25M

This well-established commercial beekeeping business is reluctantly being offered for sale, currently operating 1,300 hives in the Central Otago area, approximately 70 full time clover sites plus seven seasonal spring sites for thyme honey. They are nationally recognised as having top grade white clover honey and a special line of wild thyme honey.

Plus GST (if any) 6

www.pggwre.co.nz/DUN29799

1.6 hectare lifestyle block, buildings include a six bedroom dwelling and a range of farm buildings which are RMP certified for honey production and storage.

Alan Turner

Sally Taylor

M 027 454 4222 | alan.turner@pggwrightson.co.nz

M 027 346 7986 | sally.taylor@pggwrightson.co.nz

74 New Zealand's leading rural real estate company

2

Moa Flat, West Otago

Quality West Otago Finishing Unit Quality property with a good balance of flat tops to easy rolling small gullies.

Main homestead has four bedrooms plus there is an additional home which also has four bedrooms.

Farm buildings include three stand woolshed (RB), covered yards, four bay implement shed (one bay lock up workshop), haybarn, large tunnel house used as lamb rearing unit.

Subdivided into 55 main paddocks with some lane ways.

18 units of water from the Moa Flat scheme.

Price by Negotiation 4

2

www.pggwre.co.nz/DUN29889

Dave Hardy M 027 533 2770 | dave.hardy@pggwrightson.co.nz

Helping grow the country 75

Green Valley, East Otago

Cattle Breeding and Grazing Unit

Enquiries Over $3M

634.2590ha ideal beef breeding and grazing property with large four bedroom homestead in a private and elevated situation. Off the grid with solar, diesel and gas.

Large implement shed and workshop 27m x 9m, cattle yards hold 500 head.

Rolling to steeper faces with cultivated tops and scrub gullies.

Room to develop this property further.

Plus GST (if any)

Craig Bates

Paul Thomson

M 027 489 4361 | craig.bates@pggwrightson.co.nz

M 027 435 3936 | pthomson@pggwrightson.co.nz

76 New Zealand's leading rural real estate company

4

2

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www.pggwre.co.nz/DUN28903

Dairy Poised to swing back into the positive According to the Real Estate Institute, supported by observation on the ground, several farms have switched from dairy farming back to sheep and beef in Northland, southern Hawke’s Bay, Wairarapa and Southland. These farms include established dairy farms and newer farms converted more recently.

Growth of the dairy sector, associated with significant escalation in the capital value of property, appears to have reached a cyclical low. Farmers able to diversify, or with property suited to alternative land use, are leading the market into a new phase.

Dairy expansion, whether from land conversion or the acquisition of existing farms, peaked around five years ago and has now slowed. In some cases it has even reversed.

Land values are easing and dairy properties are taking longer to sell. Spring and summer, traditionally the rural property market’s busiest time, have been subdued.

For example, a marginal Bay of Plenty dairy farm might go back into horticulture.

Additionally small Pukekohe cropping operations are under pressure for conversion to residential or lifestyle use, which is in turn pushing growers out to seek quality land around Matamata, converting that to grow vegetables.

Dairy is at the sharp end of several challenging factors. Dairying land use appears to be receding from its high tide mark, with an emerging number of farms across the country switching to horticulture, cropping and sheep and beef finishing.

Those sectors where the returns are greater are coming to the fore and properties suitable for different land use are being converted accordingly. When greater value resides in putting a farm into a different land use, the market is acting swiftly to make the change.

These new conversions are an emerging trend, likely to become more noticeable in the next few years.

While it is not a sign the dairy industry is in demise, on present trends it is unlikely to grow bigger.

A significant number of dairy properties are currently on the market, particularly in Waikato. In many instances, aspiring vendors and prospective purchasers ascribe different values to these properties. Where agreement cannot be reached, farms will not sell. When both parties are prepared to compromise, everyone is able to progress.

There is little demand for second or third tier dairy properties. Only the most admired, with the highest specifications in the most favoured localities, are still selling well.

While sale volumes remained largely unchanged, the number of farms listed for sale has risen, particularly in Waikato, though these numbers seem set to also rise in other regions as 2019 progresses. Generational change is a constant. Those who do not wish to deal with more testing compliance regimes, or who are struggling with the availability of farm labour, are opting to leave the sector.

We currently appear to be at the bottom of the cycle. Reviewing the statistics, 2014 was the peak. Although market activity has waned since then, sales should start to pick up in autumn, then again next spring, as vendors and purchasers revise their expectations on values and re-align with each other.

Helping grow the country 77

Balfour, Southland

"Lanzdown" Dairy with Cows Included

$7.25M

• 219.5225ha • 50 bail rotary dairy shed with 600 cow yard • Five bedroom home plus second three bedroom home • 51 paddocks plus six calf paddocks, milking 500 MA cows • 90 day effluent storage, slurry tanker dispersion • An Open Country supplier offers production upside.

Plus GST (if any) Includes 500 MA in-calf cows

Bill McDonald

Darrell Duncan

M 027 434 1928 | wmcdonald@pggwrightson.co.nz

M 027 432 5767 | dduncan@pggwrightson.co.nz

78 New Zealand's leading rural real estate company

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www.pggwre.co.nz/GOR29164

Riversdale, Southland

Riversdale Dairy Farm

$4.4M

• 142.3178ha dairy farm of flat to easy rolling contour • 40 ASHB shed, circular yard, Waikato plant • Budget 135,000kg MS from 390 cows calved down • Four bedroom home, renovated and modernised • Three bedroom transportable home plus self contained quarters.

Plus GST (if any)

Darrell Duncan

Bill McDonald

M 027 432 5767 | dduncan@pggwrightson.co.nz

M 027 434 1928 | wmcdonald@pggwrightson.co.nz

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www.pggwre.co.nz/GOR22681

Helping grow the country 79

Gore, Southland

Ideal Multi-Purpose Farm

$3.2M

• 133.7385ha easy rolling contour in two titles • 80.9270ha house and land block, 52.8115ha bare land block • Located in the very reliable Waikoikoi farming area • Suitable for sheep, dairy grazing and cropping • Excellent array of farm buildings and sheds • Very well subdivided • Comfortable three bedroom home with sleep-out plus large garage.

Plus GST (if any)

Bill McDonald

Darrell Duncan

M 027 434 1928 | wmcdonald@pggwrightson.co.nz

M 027 432 5767 | dduncan@pggwrightson.co.nz

80 New Zealand's leading rural real estate company

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www.pggwre.co.nz/GOR29694

Gore, Southland

Opportunity of a Lifetime

$7.65M

PGG Wrightson Real Estate are very privileged to offer for sale at 237 Koi Road, Waikoikoi, the prestigious 365ha "Greenbank" property owned by the Chittock family for two generations. It is simply one of the best you will find!

Plus GST (if any)

• Four stand RB woolshed and covered yards, numerous sheds plus workshop • Outstanding lane system and fences, own private water scheme • Majestic two storied homestead nestled in park-like surrounds • Located in the very reliable Waikoikoi farming area.

www.pggwre.co.nz/GOR29422

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Derek Ayson

Bill McDonald

M 027 667 9601 | derek.ayson@pggwrightson.co.nz

M 027 434 1928 | wmcdonald@pggwrightson.co.nz

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Helping grow the country 81

Gore, Southland

The Terraces - Waimumu

$6.25M

• 304ha quality land in a reliable farming area • Comfortable four bedroom home • Can be sold as one lot or four separate lots • Suitable to run sheep, beef, dairy support, partially deer fenced • Private water scheme with two bores, good array of farm buildings and yards • Approximately 15ha of pruned mature pine plantations • Excellent internal and external all weather road access.

Plus GST (if any)

Derek Ayson

Darrell Duncan

M 027 667 9601 | derek.ayson@pggwrightson.co.nz

M 027 432 5767 | dduncan@pggwrightson.co.nz

82 New Zealand's leading rural real estate company

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www.pggwre.co.nz/GOR29733

Wyndham, Southland

Well Located Grazing Unit

$3.25M

Classic 215.5710ha sheep and beef unit with rolling contour, well situated in a popular district.

Plus GST (if any)

The property has a four bedroom home with open plan living, four stand RB woolshed and covered yards, four bay hay barn and three bay implement shed and workshop. It is well subdivided with three small areas of pine plantation and has flax and poplar shelter belts.

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www.pggwre.co.nz/INV29065

Motivated vendor.

Jim Fortune B 03 211 3169 | M 027 594 8346 | H 03 216 4442 | jim.fortune@pggwrightson.co.nz

Helping grow the country 83

Wyndham, Southland

Established Dairy Run-Off

Deadline Private Treaty

• 209.2865ha • Laned to approximately 40% of farm • Water system with 40mm mainline for dairying • Modernised four bedroom home, full range of farm buildings incl cattle yards • Own rock quarry on farm and three appealing duck ponds • Wintering 500 cows, 285 calves, 120 R2 heifers, additional 165 R2 heifers until 1 May.

Plus GST (if any) (Unless Sold Prior) Closes 12.00pm, Wednesday 3 April

Jim Fortune B 03 211 3169 | M 027 594 8346 | H 03 216 4442 | jim.fortune@pggwrightson.co.nz

84 New Zealand's leading rural real estate company

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www.pggwre.co.nz/INV27851

Edendale, Southland

It's All Here

$930,000

• 38.106ha • Four bay implement shed and excellent cattle yards • Water reticulated to paddocks from bore • 4.5ha kale • Pockets of established native bush • Mostly Waikiwi soils • Located just 15km from Edendale.

Plus GST (if any)

www.pggwre.co.nz/INV29847

Andrew Patterson B 03 211 3144 | M 027 434 7636 | H 03 230 4426 | apatterson@pggwrightson.co.nz

Helping grow the country 85

A closer look

Sheep and beef Several strong sales of sheep and beef property were recorded in the summer, including in west Waikato, the King Country, Hawke’s Bay, North Canterbury and South Otago. One such, a 286 hectare, Tauwhare, Waikato farm, carrying around 4500 stock units and offered for the first time in 58 years, sold prior to Christmas after a tender process, in two separate transactions, with the main block selling for $16,000 per hectare and the cropping capable flats for $60,000 per hectare. In some districts, particularly the upper North Island, sheep and beef property values have lifted by as much as 15 per cent in 12 months, and more in the better located areas, which is powerful encouragement for those farmers considering retiring.

Purchasers tend to be neighbours, motivated to consolidate their holdings, while others are similarly keen to upscale to larger blocks.

North Island dairy Various factors combined to thwart activity in the North Island’s summer property sector. For the months of

December and January, sales statistics were at or near record lows. Farmers are wary of environmental regulation, the downstream effects of the restricted overseas investment regime and cashflow. Their confidence deficit not helped by the warm, dry January and February suggesting production could be curtailed early. Few North Island dairy farms are being offered for sale, and demand from prospective purchasers is scarce. Among the less well regarded dairy properties, buyer enquiry is better where there is potential for land use change, though even there buyer and seller value expectations may not align.

While a market correction during the autumn may provide new impetus, it is likely to discourage any farm owner, other than those with a compelling reason to go to the market.

South Island dairy Demand for South Island dairy properties was low during the summer.

In Canterbury, including Mid and South Canterbury, what purchasers will pay for high specification spray-irrigated units in the most sought after localities has eased between $5,000 and $7,000 per hectare. However, there were too

86 New Zealand’s leading rural real estate company

few listings, insufficient inquiry and not enough sales activity to fully validate this correction. In Southland pricing expectations range from $35,000 to $38,000 per hectare at the better end; $28,000 to $33,000 per hectare for mid-range dairy farms, where demand is strongest; and in the low to mid $20,000s for the region’s least sought after properties. Market impetus for South Island dairy farms is unlikely to increase in the autumn, in fact it is more likely to be the end of September, after calving, before more properties are offered and more purchasers renew their interest.

Viticulture Several smaller Marlborough vineyards sold in summer as vendors were prepared to meet the market.

Development blocks with good rights to water remain in keen demand from corporate buyers. One such, a 166 hectare Awatere property, was offered for spring sale, with a deal likely to be confirmed by early autumn. Another Awatere property, with exceptional water storage already in place and up to 110 hectares suitable for Sauvignon Blanc or Pinot Noir, will also attract

attention. Approaching the end of summer, buyers were looking at vineyards for post-harvest possession, by which time most crop outgoings will be expended and the year’s yields apparent. With the extraordinarily dry February affecting several irrigation schemes, tonnages and returns for the 2019 harvest will be down. This will have an impact on the market with continued downward pressure on smaller vineyard block prices likely.

Kiwifruit Values for optimum Te Puke gold kiwifruit orchards sit at $1.2 million per canopy hectare. A handful of these properties sold during the summer, and a few more are likely to as autumn proceeds. However, relatively few are on the market compared to recent years as growers prefer to reap the returns of high export demand. Outside the crop’s heartland, a 9.86 hectare gold kiwifruit orchard at Haumoana, near Clive in Hawke’s Bay, producing around 14,000 trays per hectare in an early start area, with a house on the property, sold for $10 million in early February. As Zespri issues licences to grow 750 hectares of additional gold kiwifruit per annum until 2022, demand will continue.

Much of that will be met by converting green kiwifruit orchards. However, new development blocks are also highly sought, including beyond the Western Bay of Plenty.

while leasing out the orchard. Several larger new orchard developments are in process, up to 30 hectares, generally on leased land, including in Puketapu, Havelock North and Haumoana. These are scheduled to start producing in 2020.

Cropping Due to the warm January, this summer’s harvest was completed relatively quickly and early. However, wheat yields were down two to three tons per hectare and the wet spring meant a poor white clover harvest. While oats and other crops were average, cropping farmers with properties of 350 hectares or more still anticipate a drop in gross income between $300,000 and $400,000, or 13 to 18 per cent below average. Without that spare cash, additional land investment this year is unlikely, particularly when vendor expectations for premium cropping farms exceed $50,000 per hectare. Any owner considering selling will likely withhold until next year.

One high quality property for sale with strong buyer interest is a 385 hectare irrigated arable, lamb finishing and deer unit at Newland, 10 kilometres east

of Ashburton. Its sale will be closely monitored by the market.

Forestry Export demand for New Zealand logs remains steady. India is becoming a more important market, alongside China. Domestic demand for timber also pushes business through local mills. Demand for forest property is tied directly to these trends. Prices for mature forests sit firm at between $25,000 and $30,000 per hectare, while premium quality forestry, with convenient access to ports, is changing hands at $40,000 per hectare. Bareland blocks suitable for forest plantation, between 20 and 100 hectares, are selling in the $5,000 to $6,000 per hectare range, with some Hawke’s Bay properties selling for more.

Existing forestry interests account for most investment. As purchasers can either buy land or just cutting rights, overseas investment regulations have not altered the market. With little likelihood that export demand will drop, the seller’s market is set to continue in the forestry property sector.

Pipfruit and Stonefruit Demand for Hawke’s Bay pipfruit and stonefruit property outran supply during summer, and is likely to remain unmet through autumn, meaning realistically priced orchards offered for sale should sell well. Recent sales included an 8.3 hectare Havelock North apple orchard, with a small coolstore, which sold for $1.25 million. A 7.68 hectare property midway between Hastings and Napier, with a modern home and a peach, plum and nectarine orchard was offered for sale by tender in late February.

Like many pipfruit and stonefruit properties, this combines horticulture with lifestyle, attracting interest from prospective owners, including from outside the region, seeking to live there

Helping grow the country 87

More Great Property This autumn the choice is yours. www.pggwre.co.nz

PGG Wrightson Real Estate Limited, licensed under the REAA 2008.

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Back cover image: ‘Exclusive Land Investment Opportunity’ | DUN29742 365 Maungawera Valley Road, Albert Town (see page 73 for details on this property)