Multi-million dollar Northland rural landholding placed on the market for sale

One of the biggest rural land portfolios is on the market for sale by tender – featuring these three farms around Dargaville.

One of Northland’s biggest privately-owned rural landholdings - with a combined rateable valuation of $14.25 million - has been offered for sale.

The three dairy farms – two just north of Dargaville, and one just south of the town - cover a whopping 930 hectares and milking some 1560 cows, ranking the primary operation alongside some of New Zealand’s biggest farms in the Waikato, Canterbury and Southland.

The farms are being sold either individually or as a combined holding in a tender process being run by Bayleys Northland, with tenders closing on November 6. Bayleys Northland rural sales consultant Neil Sinclair said the dynamics of the properties has generated interest from two vastly different buyer groups.

“For the properties on an individual basis, we have seen strong interest from within the regional Northland market. Meanwhile as a combined portfolio, we have taken enquiries from syndications and existing large-scale operations in other diary-predominant strongholds,” Mr Sinclair said.

“There are a few Northland farmers who have expressed initial interest in purchasing the three farms together, and we are awaiting further feedback from them while they crunch the numbers.”

Two of the farms are located near the settlement of Aranga Valley some 32 kilometres north of Dargaville. One features 219 hectares of flat to easy rolling land, milking 385 cows in a 40-a-side herringbone shed, and with a four-bedroom homestead and three-bedroom farm hand’s dwelling.

The second Aranga Valley property features 423 hectares of valley basin land, milking 585 cows in a 45-a-side herringbone shed, with four three-bedroom homes and a two-bedroom cottage.

The majority of pastures on the two farms are ryegrass and white clover with patches of kikuyu. Water for the larger Aranga Farm is sourced from a spring which then gravity feeds 90 percent of the property, while the second farm has water pumped to a tank reservoir which then gravity-fed the network of troughs.

The remaining property is at Pouto some 29 kilometres south of Dargaville and contains 202 hectares of flat to gently counted land milking some 590 cows in a 65-a-side herringbone shed with an 800 cow capacity.

The farm has two four-bedroom dwellings. Water on the property is drawn through two bores. Building infrastructure includes two calf rearing barns, two four-bay implement sheds, a wool shed, two haybarns and two water pump and irrigation sheds.

“As a consequence of the sheer size involved, Bayleys has undertaken a nation-wide marketing campaign throughout the rural media,” Mr Sinclair said.

“With dairy production land in Northland substantially cheaper per hectare than the likes of the Waikato and Southland, the offering here is a lower-cost option for commercial enterprises wishing to expand their dairying operations.”

Mr Sinclair said the scope of purchasing permutations necessitated the portfolio being taken to tender rather than individually auctioning the farms.

“There is any combination of ways these farms could be sold off, so until all tenders are put in front of the vendor it’s impossible to speculate how this campaign will conclude in terms of new ownership,” he said.

“Until all offers are reviewed, we simply can’t say if the parts are valued individually higher than the total, or if the combined trio outweighs the value of the smaller parts.”

Tenders close on November 6.

ENDS

© Scoop Media

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