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Lilybank Station sold

For Immediate Release

November 29, 2007

Lilybank Station sold

Lilybank Station at the head of Lake Tekapo has been sold although the sale price and identity of the owners would not be disclosed.

The necessity for confidentiality is required whilst the process of transferring the Crown Pastoral lease, recreation permits and stock limitation certificates is being undertaken.

The property was sold by master marketer Chris Herbert, of Chris Herbert Property Services, who managed the sale without going to an open market campaign.

“It can be assumed that the price received for the property was very acceptable as the sale was conducted without any formal marketing campaign and the absolute minimum of disruption to the current farming operation.

“It is also testament to the wonderful condition that the property is in and its presentation was faultless,” he said.

The property will remain in the hands of New Zealand owners who intend to keep the current farm management operation and managerial staff in place.

“The new owners will not at this stage reside permanently on the property but the company buying the property represent a group of very experienced business people who have extensive holdings and experience over a wide range of agricultural enterprises.

“Their experience has been very evident throughout our negotiation process which leads me to believe that they will be valuable contributors to the Mackenzie District.

“They will not rush into any new tourism initiatives on the property but rather wait until they have had time to settle into the operation.”

The appeal of Lilybank to the new owners centred predominantly on their ability to give their extended family members an iconic New Zealand high country experience in an unbelievably majestic environment.

”That said, the sale price of the property does demand consideration as to methods on how to grow the income streams from the property.

“The relationship of sale price to income streams from farming do not equate but Lilybank is a trophy property that can be extremely effective in providing a beautiful balance and contribute to the growing popularity of the region.”

Some two years ago Herbert was instrumental in introducing to Lilybank a golf course concept along with a redevelopment and business plan around the 16,000 sq ft lodge.

“It would be fair to say that the new owners have been impressed with the business plan around the property and they were especially intrigued by the golf course plan and how well these interests could be integrated with the current farming operations. They will take a very considered approach to any future plans and we intend to keep ongoing dialogue with the District,” Herbert said.

ENDS

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