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Pastoral Opportunity Assured With Lagoon Hill
Sheep and beef farmers keen to invest in a quality pastoral property without the intense price competition from foresters have that opportunity in the Wairarapa this spring.
Martinborough property Lagoon Hill at Tutirimuri offers the opportunity to enter or expand a holding in a pastoral breeding unit at a realistic price level, thanks to its covenanted title.
Originally part of the much larger Lagoon Hill station that totalled 4,200ha, today’s title represents the portion of the property remaining in pasture after the rest underwent forestry conversion by its new owners in 2019.
The remaining 654ha includes the property’s original and substantial infrastructure assets. Conditions of its subdivision from the original title are that it remain in pasture and livestock farming for 25 years.
Bayleys Wairarapa salesperson Andrew Smith says given the pastoral sector’s concerns over increased competition from plantation and carbon forestry interests in pastoral land purchases, interested sheep and beef farmers welcomed the opportunity to purchase on a “pasture only” playing field.
“There is a lot to like about Lagoon Hill, alongside the sale conditions. It comes with a lot of history, as a farm that has an ownership history about as long as there have been settlers in New Zealand, and this is reflected in the property’s facilities, including the homestead and the woolshed.”
The 10-stand wooden woolshed is an iconic design for its time, along with the character homestead. The main house is set in attractive grounds and has been well maintained, offering spacious living with five double bedrooms. It is complemented with a tidy three- bedroom homestead cottage that has a large living area and well-maintained interior for comfortable modern living.
While previously farmed as part of the original Lagoon Hill Station, estimates are the strong breeding country will support 5,000 stock units across its medium contour land with well- established rye-clover pasture.
The ratio of sheep to cattle is estimated to be 70-80 percent, with a typical system likely to target the production of high-quality store lambs and weaner or yearling cattle.
Given the property’s generally summer safe status, expectations would be a high proportion of lambs could be weaned prime off the ewes. Under the larger station’s operations scanning rates were consistently 165-170 percent, with a tailing rate of 135-140 percent.
With areas of easier rolling hill country throughout, Lagoon Hill also lends itself well to more intensive development, with capability to cultivate and sow fodder crops and new grass on some easier country opening up fattening options in the future.
The property’s quality subdivision of 26 paddocks ranging from 15-40ha are well fenced with a mix of conventional 8-wire and newer 7-wire permanent, with strategically located electric fences run by remote solar units.
“The property’s infrastructure and internal access is all geared around the larger farm footprint and facilities are ideal for the new title’s scale,” says Smith.
Facilities include well located sheep yards with excellent access from the main farm road serving the majority of the property. Cattle yards are also in good order, close to the main station along with an airstrip and bulk fertiliser bin.
The building complement is completed with a workshop and a haybarn. The property’s main road offers an excellent standard of access to the rear of the farm, and easement passages for the neighbouring forestry block have been negotiated.
Given Lagoon Hill’s 30-minute drive to the bustling wine town of Martinborough, the property also offers the potential for some farm-stay tourism development.
“The homestead cottage in particular would be an ideal project to develop into accommodation. The appeal of the region to Wellington visitors is strong, whether it is for a weekend sampling wines, or enjoying some time on the farm here, or heading into the hills to do some hunting,” says Smith.
Interest in Lagoon Hill is proving strong this spring, with interested parties appreciating its “pasture only” status in a market where quality breeding country is becoming hard to find.
“We are expecting some very realistic bids for what is proving to be a welcome offering in today’s market, coming at a time when beef and sheep returns are looking very positive,” says Smith.
Lagoon Hills is for sale by tender, closing November 15.
Click here for more information on the listing.
Bayleys Real Estate
New Zealand
Bayleys is New Zealand's largest full-service real estate company. We offer expertise in the marketing and sale of a wide range of property, including residential real estate, farms and lifestyle blocks, and commercial and industrial property. This includes tourism and business sales such as hotels and motels. We also cover the real estate markets in Fiji and other Pacific Islands.
Bayleys also provides a complete property and facilities service including property management and valuations teams focused on achieving both Owner and Tenant satisfaction.
No other real estate company can match our breadth of coverage across all market sectors throughout New Zealand.
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