Described as some of the best farming country in East Coast region, a hill country farm close to Gisborne city with scale, good balance of contour, seasonal advantages and a long-term lease to progressive young farmers is for sale.
The circa-1,105-hectare property, subject to survey, in Glenroy Road, Whangara, 30km from Gisborne, is held in multiple titles with the vendors being a family trust that has owned and farmed the land for decades.
Faithfully maintained as a legacy property, with superior infrastructure, the current generation is selling the property as a prime investment opportunity underpinned by the long lease from committed and respected tenant farmers.
Agents say the property will appeal to hands-off corporate or private investors who appreciate the long-run fundamentals of owning a quality hill country station, while advancing the career of young farmers who have a passion for the land.
The property is leased to Whangara Angus, a successful bull breeding business now owned and operated by a stud farmer, and veterinarian based in Gisborne. The core lease commenced on 14th March 2021, on a 10-year basis, with a right of extension for a further 10 years and rent reviews every three years.
There is also a 12-month rolling grazing lease for 78.93 hectares.
The adjoining 530ha (subject to survey) forestry block planted in 2021 and 2022, is being marketed in conjunction with the hill country farm and may also be acquired, allowing for favourable projected cash flow from carbon sales, helping strengthen yield over the next 17 years.
Simon Bousfield and Stephen Thomson, Bayleys Gisborne are marketing the property by international tender closing 4pm, Wednesday 14th June, unless sold prior.
The Whangara farming district is renowned and proven, with warm winters and early springs underpinning its productivity, with the early season crops and the availability of affordable fertile soils continuing to bring new interest to the region.
“This is a unique opportunity for those that have the desire and ambition to be station owners, but not to be running a farming business,” said Bousfield.
“We’d expect interest from New Zealand corporate investors looking for secure returns and the ability to harness long-term capital gains, along with those seeking opportunities for the next generation – appreciating that a farm of this quality does not come to market often.
“We are also casting our net internationally as there is a chance that cashed-up expats’ could be looking for a secure investment in New Zealand to ultimately return to.
“This offering provides the very best of all worlds – ownership of a quality hill country asset, a proactive tenant with an established and successful operation providing returns, and no need to get hands dirty.”
Bousfield said it’s a very well-balanced property with circa 88ha of flats, a mix of easy to medium and steep hill country, and extensive investment in infrastructure.
“There’s a central lane with all-weather access through the property, multiple sets of strategically-located stockyards, a bull sales’ complex, a brand new four-stand woolshed with covered yards, a large-scale fully-reticulated water system, and an array of quality farm sheds.
“The property also has four dwellings, including an elevated modern four-bedroom homestead, with one dwelling excluded from the farm lease.”
The farmland is subdivided into approximately 60 paddocks, ranging from just over three hectares on the flats, to 75 hectares in the hill country.
Main access to the property is from Glenroy Road in the west and Waiomoko Road in the east while Andrews Road, a short no-exit road off Waiomoko Road, provides additional access to the property.