Record farm sale forecast

21:33, Dec 06 2013

One of New Zealand's biggest and most valuable farms is for sale.

The 13,800-hectare Lochinver Station near Taupo, valued at over $70 million, has been put up for tender by the Stevenson Group, which has owned the property for more than 50 years.

The biggest rural property to come on the market in the North Island is expected to set a record price for a farm sale in New Zealand, Bayleys managing director Mike Bayley says.

The property has a rating value of $70.6 m.

This is well over what other big farms realised in the last five years: St James Station, in Canterbury, sold for $45m, a Dipton property, in Southland, went for $33m, and Mt Pember Station, in North Canterbury, recently sold for almost $30m.

On the Rangitaiki Plains, 32km from Taupo and 92km from Napier, Lochinver is a sheep and beef breeding and finishing and dairy support station. It has three airstrips, a lake, a recreational hunting block, 22 houses for the families of 20 permanent staff, a recreation centre and school. Fairfax NZ

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