Foreign farm ownership expected to ignite interest

Media Release
03.09.2012
Foreign farm ownership expected to ignite interest from Kiwi buyers

A 157 hectare coastal landholding in Otago, with the potential to be subdivided into lifestyle blocks, has been placed on the market for sale.

The property has been utilised for the past 11 years by American owners who have farmed the land organically. Stock over the years has been a mixture of deer, sheep and cattle, but more recently Hereford beef.

Triangulated some 42km south of Dunedin’s central business district and 37km from Dunedin International Airport, it is the first farm property south of Dunedin that incorporates more than 1km of waterfront, including its own surf break.

The property has been placed on the market for sale by Bayleys with a deadline of September 14 and is being marketed by Bayleys Dunedin salesperson Brian Erickson.

Mr Erickson said with the property already divided into seven titles, and its close proximity to Dunedin, it presented developers with an ideal opportunity to subdivide the land into lifestyle blocks.

“There is already a market for small to medium-sized coastal blocks with close ocean views, especially those with access to the waterfront.

“As well as having nearly 2 kilometres of waterfront land, the property also has access to its own private surf break, creating an enviable opportunity for a developer or someone seeking a rural lifestyle with beach access.”

Mr Erickson said some of the farm’s surrounding land was already utilised for lifestyle blocks, with most being medium-sized rural holdings used mostly for intense grazing purposes.

“The farm has been in the hands of an American couple for the past 11 years, and we have already received interest in the property from local farmers.”

The farm is well-subdivided into 20 paddocks with electric and wire fencing. Its contour is moderately sloping, with well developed farm access roads.

Stock water is pumped from several ponds on the property into tanks where it is gravity fed into water troughs. The property has several deposits of schist – including the 1.6hectare Akatore Quarry – which would be suitable for use to create additional tracks and roading.

The 246 square metre homestead comprises five bedrooms, two bathrooms and an open plan kitchen/dining/living area, with recent upgrades to the kitchen, bathroom and ensuite. The property features a large deck with views along the coastline, and a double garage with internal access.

Other buildings on the property include an equipment shed, haybarn and a large set of cattleyards.

“This is a genuinely well-balanced property with all the advantages of being near the coast yet with the benefit of mainly easy contour,” Mr Erickson said.

“It presents an attractive opportunity for farmers seeking a medium-sized land holding, and also for non-farmers seeking to invest in a piece of coastal property. It’s a great location approximately 2 kilometres south of Taieri Mouth and 20km south of Brighton.

“Coastal property like this with nearly 2 kilometres of coastal frontage is seldom available.”

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