Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Lochinver farm sale highlights weak foreign ownership laws

27 February 2014

Lochinver farm sale highlights weak foreign ownership laws

Tenders close today for the sale of one of New Zealand’s most valuable farms, raising the distinct possibility it will fall into foreign ownership, Green Party Co-leader Dr Russel Norman said today.

Tenders close at 4PM today for Lochinver Station, described as one of the most productive farms ever put up for sale. The 13,800 hectare property located along the Napier-Taupo highway has a capital valuation of $70.6 million.

“Our weak laws around foreign ownership of land means we risk losing highly productive farms like Lochinver Station to foreign owners,” said Dr Norman.

“As food prices rise globally, selling off our productive land to foreign owners is not a smart way to run an economy. Profits will flow offshore leaving us less able to pay down our huge foreign debt.

“The loss of Crafar farms into Chinese ownership should have been a wake-up call for this Government to restrict farm sales to New Zealanders and New Zealand permanent residents only.

“Lochinver Station borders fantastic hunting, fishing, and white water rafting country. Having the farm fall into foreign ownership and being locked up and only accessible to wealthy foreign tourists will be a hard loss to stomach for Kiwis.”

The Green Party will ensure that New Zealand land remains in New Zealand ownership. Dr Norman introduced a Member's Bill in 2010 which rules out overseas ownership of farmland over five hectares.

“This simple measure would take some of the pressure off rural land prices, making it easier for New Zealand families to buy a farm, and will also help our current account deficit, as more profits will stay in New Zealand,” said Dr Norman.

“When it comes to our productive farmland, we must keep it Kiwi.”

More information:
Lochinver Station is for sale by tender, closing on February 27, 2014, at 4PM. The sale is being managed by Bayleys' managing director Mike Bayley from Bayleys Taihape.

Table of recent large farm sales:

Farm - Area Size (ha) - Approximate value
Crafar farms Central NI – 7,892 - $200M
Lochinver Station - Volcanic Plateau – 13,837 - $71M†
St James Station – Canterbury - 78,196 - $45M
Mt Pember Station – Canterbury – 27,242 - $30M

† Under tender, capital valuation only

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

PARLIAMENT TODAY:

  • Govt Probed Over Health & Safety
  • Questions and Answers 28-05-15
  • Week in Parliament 22-05-15
  • Saturday Sitting
  • House Rises At Midnight
  • Telco Levy Bill Passes
  • Telco Levy Bill Completes First Reading
  • Social Housing Bill Passes Under Urgency

  • Labour Party: McCully Doesn’t Deny Bribe In Saudi Sheep Scandal

    “In Parliament today I asked Murray McCully directly: Why is he the first Minister in history to back a multi-million dollar facilitation arrangement which in other jurisdictions is called a bribe? says Labour’s Export Growth and Trade spokesperson ... More>>

    ALSO:

    Welfare: Closure Of Relationships Aotearoa

    The Aotearoa New Zealand Association of Social Workers (ANZASW) Chief Executive Lucy Sandford-Reed is concerned about the closure of a national service which provides a wide range of services to rural and urban communities throughout New Zealand. More>>

    ALSO:

    TPPA: University Of Auckland Warns Of Negative TPP Impact

    The University of Auckland May 20, 2015 University of Auckland Warns of Negative TPP Impact With the Trans Pacific Partnership (TPP) negotiation drawing to a close, the University of Auckland has expressed serious concerns about its potential implications. ... More>>

    NZ Flag: Flag Referendum Gets Hit Hard In New Poll

    The latest Campbell Live text poll confirms it is time for the Prime Minister to listen to the public and shelve his flag referendum, says the New Zealand First Leader Rt Hon Winston Peters. More>>

    Gordon Campbell: The Government’s Belated Moves On Property Speculation

    Is it a property tax on capital gains or a capital gains tax on property? The Jesuitical distinctions in the government’s spin about its latest moves on property speculators are all about whether the government can claim that it jumped, or confess that it ... More>>

    Grant Robertson:
    Key Can’t Just Be Prime Minister For Parnell

    John Key must show New Zealanders in next week’s Budget that he is more than the Prime Minister for Parnell, and is also the Prime Minister for Pine Hill, Putararu and Palmerston North, Labour’s Finance spokesperson Grant Robertson says. In a ... More>>


    Labour Party: More Regional Jobs Go In Corrections Reshape

    News that 194 Corrections staff are to lose their jobs will have ramifications not only for them and their families but for the wider community, Labour’s Corrections spokesperson Kelvin Davis says. Prison units at Waikeria, Tongariro and Rimutaka ... More>>

    ALSO:

  • NZ First - Prison Job Losses to Send Money Offshore
  • TPPA: ‘Team Obama’ Regroups On Fast Track, Still Not Deliverable

    ‘After yesterday’s stinging and unexpected defeat for the Obama administration’s attempt to advance Fast Track legislation in the US Senate, Senate leaders have worked up a compromise they think will get them past this blockage’, according to Auckland ... More>>

    NZ Government: 5,500 More Doctors And Nurses In Our Hospitals

    Health Minister Jonathan Coleman says a record number of doctors and nurses are working in District Health Boards across the country. More>>

    Controller and Auditor General: Katherine Rich Conflict of Interest Decision

    We are writing to you about a matter that has been raised with us by members of the public. More>>

    ALSO:

    Budget 2015: Andrew Little On The 2015 Budget

    Speaking to the Chamber of Commerce, the Labour opposition leader attacked the government’s approach to economic issues facing New Zealand. He said they have been “more than reckless in their complacency” and “the next week’s budget will do nothing ... More>>

    Defence Force: NZDF Building Partner Capacity Mission Personnel In Iraq

    NZDF Building Partner Capacity Mission Personnel in Iraq The New Zealand Defence Force Building Partner Capacity training mission contingent is in place at Taji Military Complex in Iraq. The Chief of Defence Force Lieutenant General Tim Keating says the ... More>>

    PM Press Conference: ACC Levy Cuts Announced

    In a press conference this afternoon in Wellington, ACC Minister Nikki Kaye proposed $500 million worth of ACC levy cuts. More>>

    Quakes: New Process For Red Zone Crown Offers

    Canterbury Earthquake Recovery Minister Gerry Brownlee has announced a process to give everyone a say on the Crown offers to owners of vacant, commercial/industrial and uninsured properties in the Residential Red Zone. More>>

    ALSO:

    Get More From Scoop

     

    LATEST HEADLINES

     
     
     
     
     
     
     
     
     
    Parliament
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news