Rank Group to sell off last rural investment land
Rank Group to sell off the last of its rural investment livestock land
The last piece of the Rank Group Ltd’s rural livestock investment portfolio – encompassing cattle grazing land and a pig breeding operation in Maramarua just south of Auckland – is being taken to auction for sale on October 24.
Privately-owned New Zealand investment company Rank Group is selling off a productive 142.8 hectare block leased to cattle grazing and pig breeding operations at Maramarua just south of Auckland through an auction on October 24. The property is being marketed for sale through Bayleys Hamilton senior rural sales person Mike Fraser-Jones.
Over the past three years, some 30 farms owned by Carter Holt Harvey Ltd under the Rank Group stable of companies have been sold off. The Rotorua and South Waikato farms – totaling approximately 8600 hectares – were predominantly high quality dairy unit conversions of what was once forestry plantations where the trees were logged.
The Carter Holt farms were purchased by a mixture of local and international interests. Mr Fraser-Jones said that as a one-off block and Rank’s last rural livestock-based land holding, the Maramarua operation would most likely be bought by a New Zealand-based farmer or someone looking for a revenue-generating primary produce-based investment opportunity.
The Maramarua farm contains approximately 132 hectares of grazing land and an enclosed pig breeding plant. Commercial pig breeding company PIC New Zealand leases the 1.35 hectare buildings and plant, as well as four three-bedroom houses on the farm. The adjacent cattle grazing land is leased to a separate entity – with dry stock run on the property.
The lease for the cattle grazing pasture expires in May next year and has no right of renewal, while the lease to PIC pig breeders expires in May 2017.
The grazing land generates $64,999.92 plus GST return per annum, while the piggery operation and associated homes generate income of $130,308 plus GST per annum. Mr Fraser-Jones said the commercial leases encompassed within the farm meant they would attract a wide audience of potential new owners.
“With lease arrangements in place, the farm could be viewed as purely an investment proposition. Alternatively, it could be bought by a beef farmer looking for a run-off or cattle finishing land, with holding income from the piggery,” Mr Fraser-Jones said.
The farm features gently rolling to moderately undulating hill country, with eight hectares of pines planted in two woodlands on steeper terrain. The clay loam pastures are well fenced with a mix of seven wire post and batten and electric separating the 35 paddocks.
Mr Fraser-Jones said the property contained three oxidation ponds for effluent collection from the pig breeding plant. The effluent can be pumped over some 60 hectares of pasture through a system of hydrants and underground mains pipes.
“The piggery plant itself features an isolation shed, a mating shed, two growing sheds, an administration block with laboratory, and transfer yard,” Mr Fraser-Jones said.
Piggery tenant PIC is New Zealand’s largest pig breeding company with interests in 30 countries. The business supplies breeding quality stock and offspring to pork-production operations throughout the country through substantial investment into genetic research.