Ashburton Guardian, Tuesday, February 18, 2020

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Tuesday, Feb 18, 2020

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Fairton sale gains interest By Heather Chalmers

heather.c@theguardian.co.nz

National interest is expected in Silver Fern Farms’ mothballed Fairton meat plant and surrounding rural land, valued at almost $40 million, which is now being advertised for sale. The 485 hectares of land, just north of Ashburton, comprise 32ha at the former Fairton plant and 453ha of adjacent rural land. At July 2018, the rural land had a capital value of $19.8m and the

Fairton plant $18.1m. Sheepmeat processing at the plant stopped in 2017, with the loss of 370 jobs, following a continued decline in regional sheep numbers following land use change, particularly to dairying. The plant’s final death knell was last year, following the closure of Fairton’s pelt processing operation with the loss of 44 jobs. SFF has instead consolidated processing at its multi-species Pareora plant, south of Timaru,

which processes lamb, goats, bobby calves, cattle and deer and employs about 1000 people in peak season. While a real estate sign was erected on State Highway One at the Fairton turn-off just before Christmas, the sale is only now being publicly advertised. Marketed by Colliers International directors, Sam Staite, industrial, and Richard O’Sullivan, rural and agribusiness division, the site was for sale by deadline

private treaty, closing on March 26 at 4pm, unless sold prior. O’Sullivan said the preferred option was for the site to be sold in one piece, “but if it needs to be broken up to attract a better price we will certainly entertain this”. As Overseas Investment Office approval would be required for a foreign purchaser, he believed the buyer would come from within New Zealand, or be an expat Kiwi. Potential buyers would need to look at the site’s zoning, resource

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consents and engage with the Ashburton District Council regarding possible commercial and industrial uses, O’Sullivan said. Staite said Ashburton was experiencing near record low vacancy across its commercial and industrial asset class and demand was strong for all areas of property in the region.

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