Established Farms On The Market Through Receivership Sales

Media Release
Date 23.3.2012
Established Farms On The Market
Through Receivership Sales

A sizeable dairy farm and a neighbouring dairy support block – both owned by the same company – have been placed on the market for sale in a receivership process.

The two farms in the Southern Hawke’s Bay district of Norsewood are a 370 hectare block milking 1025 cows on target to produce 370,000 kilogrammes of milk solids, while the second property is an adjacent 168 hectare run-off unit grazing 250 heifers, and wintering 800 cows. The two farms are currently being managed by receivers.

The farms are being offered for sale by tender. The process is being run jointly through real estate agencies Bayleys and PGG Wrightson, with tenders closing on April 20. Bayleys Hawke’s Bay rural salesperson Sam Twigg said the farms were for sale individually or as a combined operation.

Sam Twigg said the larger dairy farm was classified as ‘high-performing’ unit – with the majority of the farm on flat to undulating contour. Any potential purchaser also had the option to buy 330,000 Fonterra shares and all livestock associated with the farm. The farm has a six-year-old 60-bail rotary milking shed with a Protrack system and a built-in feeding platform.

Mr Twigg said that buildings on the farm included three implement sheds/workshops, three calf sheds, two hay barns, two 16-tonne feed silos, a large silage pit, its own metal pit for cattle race maintenance, and modern cattle yards. Accommodation on the farm consisted of a three bedroom home complete with sleep-out, and a two-bedroom worker’s cottage.

Meanwhile, PGG Wrightson salesperson Max Lyver said the second smaller block had a recorded history of producing 600 tonnes of grass silage and hay, with 15 hectares planted in kale. The farm could continue to be operated in conjunction with the neighbouring dairy unit, or alternatively has the potential to be converted to a stand-alone dairy unit, finishing, cropping, or deer farm.

Buildings on site included a woolshed, deer shed, storage shed, with sheep/cattle/deer yards. There were no residences on the farm.

ENDS

© Scoop Media