Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Iconic North Island farm sells

Media Release

Iconic North Island farm sells

One of the most highly valued sheep and beef properties in New Zealand has been sold. The 4,839 hectare Mangaohane Station located just off the Taihape to Napier Highway between the Rangitikei River and the Ruahine Forest Park.

It has been sold by the family of previous owner, the late Jim Bull. Jim was known as ‘The Potato King”, and bought Mangaohane at auction in 1973 for what was then a record price.

During the last 40 years, the property has been dramatically transformed - with 1500 hectares of scrub cleared, and a further 1200 hectares of tussock developed into top quality high producing pasture.

The station has been purchased by interests associated with the neighbouring Erewhon Station. The deal was brokered by Bayleys Taihape salesperson Pete Stratton.

Mr Stratton said that the sale price for the station had not been released. The 2011 government valuation is $22.2 million and most recent sales in the district had been above government valuation.

Mr Stratton said that four tenders were received for Mangaohane. All were from New Zealand entities, and at very good levels. The station winters on average more than 44,000 sheep and cattle stock units - placing it among the top echelon of productive primary land in New Zealand.

“The confidence expressed through the four tenders underscores the long-term value being placed in sheep and beef units,” Mr Stratton said. “From my understanding, the price achieved ranks Mangaohane as the most valuable sheep and beef unit to have sold in the North Island.

“While the three unsuccessful tenderers are obviously disappointed at missing out on one of the country’s ‘trophy’ farms, we will continue to work with them to find other suitable properties.”

Mr Stratton said the price achieved for the sale of Mangaohane reflected the extensive capital invested in building the soil fertility and improving the pasture species on the station.

“Over the last 10 years, around 2600 hectares has been cropped before being sown into new grass, with a further 290 hectares currently in swedes,” he said.

He said “The Bull family had invested in more than 100 kilometres of new fencing, plus a further 40 kilometres reconstructed to form a whopping 140 main paddocks across the station with an average size of 30 hectares, with most having reticulated stock water.”

Mangaohane also has 132 hectares of forestry - comprising mainly radiata pine all planted since 1992.

Mr Stratton said Mangaohane’s new owners had indicated they would continue operating the station as a sheep and beef breeding unit, in conjunction with their existing farming operation.

Mangaohane was one of four farms owned by Jim Bull, who started growing potatoes on 14 hectares of leased land. Over 20 years he grew the potato empire to be the biggest in Australasia, with a factory at Rata in Rangitikei. In 1984 he sold the business to Watties to concentrate on farming.

The Rangitikei town of Bulls was named after his grandfather, also James Bull. Bull was heavily involved with Massey University and is recorded as the first businessman to fund a research project there. It was on how to process potatoes efficiently into chips.

In 1995 Jim Bull’s distinguished service to farming and agribusiness was recognised with an OBE in the Queen's Birthday Honours List, and in 2005 Massey made him an honorary doctor of science. Bull was also active in horse racing and at one time was chairman of the Racing Conference.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Internet: NZ Govt Lifts Target Speeds For Rural Broadband

The government has lifted its expectations on faster broadband speeds for rural New Zealand as it targets increased spending on research and development in the country's information and communications technology sector, which it sees as a key driver for export growth. More>>


Banks: Westpac Keeps Core Government Transactions Contract

The local arm of Westpac Banking Corp has kept its contract with the New Zealand government to provide core transactions, but will have to share peripheral services with its rivals. More>>


Science Investment Plan: Universities Welcome Statement

Universities New Zealand has welcomed the National Statement of Science Investment released by the Government today... this is a critical document as it sets out the Government’s ten-year strategic direction that will guide future investment in New Zealand’s science system. More>>


Scouring: Cavalier Merger Would Extract 'Monopoly Rents' - Godfrey Hirst

A merger of Cavalier Wool Holdings and New Zealand Wool Services International's two wool scouring operations would create a monopoly, says carpet maker Godfrey Hirst. The Commerce Commission on Friday released its second draft determination on the merger, maintaining its view that the public benefits would outweigh the loss of competition. More>>


Scoop Review Of Books: She Means Business

As Foreman says in her conclusion, this is a business book. It opens with a brief biographical section followed by a collection of interesting tips for entrepreneurs... More>>


Hourly Wage Gap Grows: Gender Pay Gap Still Fixed At Fourteen Percent

“The totally unchanged pay gap is a slap in the face for women, families and the economy,” says Coalition spokesperson, Angela McLeod. Even worse, Māori and Pacific women face an outrageous pay gap of 28% and 33% when compared with the pay packets of Pākehā men. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news