Solid Energy sells Southland farms

COLLETTE DEVLIN
Last updated 19:00 08/05/2014

Relevant offers

Solid Energy has sold its Southland dairy farms, but the state-owned company is yet to release the price it got.

About 2,000 hectares of the Eastern Southland rural property was sold by tender.

The properties included three dairy farms, two dairy support or conversion farms, and four properties considered as dairy support farms.

The farms, ranging from 33ha to 399ha, were within a 5-kilometre radius between Mataura and Gore.
Solid Energy bought the properties to secure access to the large lignite coal resource in the district, but no longer required the land.

Solid Energy spokesman Bryn Somerville said there was strong interest in the land, with multiple offers.
He would not say how much had been paid for the farms but Solid Energy was pleased with return, he said.

There were a variety of selling dates and all the money was not yet ‘‘in’’ so he could not give a total value.
However, it planned to report the vale of the sales at a later date.

‘‘[Solid Energy] is satisfied with the price and believed it got good value,’’ he said.
PGG Wrightson Real Estate marketed the farms.

General manager Peter Newbold said the land sold at the upper end of the market and the properties met or exceeded price expectations.

Interest in the properties was strong and the company received 100 requests for information packs, viewing the farms or attending open days.

It received a total of 38 tenders for the farms.

‘‘Offering a number of farms for sale all at once like this can potentially cause an imbalance of supply and demand, therefore harming values. In this instance, that has not happened, and the prices offered were favourable, indicating the strong demand for Southland rural property is not letting up,” he said.

Newbold said interest in the farms came from a broad range of potential buyers.

“It was pleasing to see interest from potential buyers. In particular, the level of local interest demonstrated the strength of demand for dairy and dairy support property within the district, which was reinforced by corporate and international purchasers who also enquired after the farms,” he said.

Ad Feedback

- Fairfax Media

st strap Communites
Our E-Editions

Read our free publications online.

giveaway
Win with the Times

Win with us!

Stl paper logo
Subscriber services

Click here for subscriber news and information.

ST digital edition thumb
Digital edition

Read The Southland Times online with our digital edition.

Newspaper
Subscribe

Click here to subscribe to our publications

Special offers
Opinion poll

What is your impression of Invercargill's teens?

Friendly and helpful, a credit to their town

No better or worse than anywhere else

Not impressed with them at all

Vote Result

Related story: Letter: In praise of young people

Featured Promotions

Sponsored Content

Daily diversions
stimes pan #stayclassysouthland

Cartoons by Chicane, aka Mark Winter

Quizzes

Today's puzzles

Reviews

Your Family News
Birth notices and anniversaries

Celebrations

View marriage and birth notices from around the region

Death notices

Death Notices

View obituaries from around the region