KiwiRail sells Clifford Bay land

CATHERINE HARRIS
Last updated 15:55 28/08/2014

Relevant offers

Industries

Dick Smith's misfortune proves a boon for other retailers Wine industry heads deny demand for Marlborough sauvignon blanc declining Family of the late microlight pioneer Max Clear put his Te Kowhai airfield up for sale Aussie owner of Wellington offices gets OIO nod for $100m property fund AA warns Z Energy's Caltex takeover could lead to higher petrol prices Unqualified builder forced to pay $750,000 for leaky Auckland home he built Comvita's virtual reality only as good as the technology Panama Papers: Uruguayan link to $6m farm sale Five things to know about Mitsubishi scandal 'Cactus' skin aids electric car efficiency

KiwiRail has sold land once tagged for its South Island ferry terminal at Clifford Bay to a winegrower.

The 413-hectare site, owned by Clifford Bay Ltd since 1993, was placed on the market this year.

The land, south of Blenheim, has been sold to Peter Yealands for an undisclosed sum.

KiwiRail's national manager of property, Andrew Robinson, said the rail operator had a duty as a state-owned enterprise to make a return on its investment, "and this sale fulfills those requirements".

The Government last year decided not to proceed with the development of a terminal "and therefore the most sensible option is for [the site] be sold", he said.

Yealands, the principal of Yealands Wine Group, also owns the historic Flaxbourne Station and said he planned to upgrade both properties.

Ad Feedback

- Stuff

Special offers

Featured Promotions

Sponsored Content