A dairy farm near Gore has been sold to an overseas investor for about $13 million.
Consent was granted by the New Zealand Overseas Investment Office for Dynamic Asset Management Company (Luxembourg) to purchase the land from Delamare Farms Ltd.
Approval was granted for the acquisition of a freehold interest in 408 hectares at 196 Te Tipua Valley Rd.
Gerrit Jan Bos and Gerritdina Geertruida Bos are listed as two of Delamare's directors.
The new owner intends to convert the farm from a self-contained dairy operation to a milking platform.
A milking platform uses its land for the sole purpose of milking and does not have aspects to it such as winter grazing crops and young heifers.
A sum of $12,900,000 was quoted on the Land Information New Zealand website decision document.
The website decision says the applicant was Dynamic Asset Management Company (Luxembourg) S.A. on behalf of DMC Fund FCP SIF - Agriculture Real Assets Sub Fund, Switzerland (100 per cent).
- The Southland Times