More green Southland pastures have been purchased by an Irish company.
The Overseas Investment Office granted consent in March for the County Meath company Premier Dairies Ltd to buy 57.5 hectares in Central Southland.
The land at 384 Collinson Rd, Tussock Creek, sold for $2.1 million, and lies next to a dairy farm already owned by the company. The acquisition allows the owners to swap land from one milking platform to another, and to use the existing cowshed, so cows will not have to cross Makarewa Browns Rd for milking, the consent says.
The overseas investment was deemed of "substantial and identifiable benefit to New Zealand" by creating and retaining jobs, increasing export receipts, adding market competition and productivity, and adding investment for development purposes.The Irish company bought $20m of Southland pasture in 2009 to complement an already sizeable rural property portfolio in Southland.
- © Fairfax NZ News