Secret buyer for AgResearch site

Last updated 07:30 09/12/2013

Relevant offers

Agribusiness

Future dairy demand to be shadowed by more meat consumption As bumper harvest begins, avocado prices come tumbling down Marlborough vets recount tales from dedicated profession Pomahaka farmers step up river clean-up Benny wins NZ-China journalism award German dairy farmers struggle through milk slump Labour summit 'first step' to solving issues associated with growth of Marlborough wine industry Ballance returns $30m to shareholders, down on last year Farmers struggle to lift confidence as outside markets and politics weigh heavily Brothers-in-arms at the sheep breeding frontline

AgResearch's former base in Upper Hutt has been sold to a mystery buyer after plans for a major film-studio development on the Wallaceville block fell through.

AgResearch chief executive Tom Richardson said the 58 hectare (145 acre) site, just north of the Trentham Racecourse and the Trentham Army Camp, had been sold in two lots.

He said retirement village developer Summerset had bought 4ha to expand its adjacent retirement village. The remaining 54ha was under a conditional sales contract for an undisclosed price to a buyer who did not want to be identified.

Dr Richardson said AgResearch had been working for a considerable time to conclude the sale.

"Unfortunately the group behind the [film] studio concept were not able to complete an offer, despite several extensions in the sales timeframe."

Upper Hutt Mayor Wayne Guppy said it was great the land was being made available for development.

"While it's unfortunate that the film-studio proposal hasn't materialised, we see today's announcement as good for the city and are delighted to have these development options ready to go."

Ad Feedback

- The Dominion Post

Special offers

Featured Promotions

Sponsored Content