Property Express Extra - South Island Autumn 2019

Extra

Capturing the essence of the landscape See page 30 to read about this stunning property

AU T U M N 2 019 | www.pggwre.co.nz/property-express

SOUTH ISLAND EDITION

Our offices

North Island

Northland

For specialist knowledge on buying and selling real estate throughout New Zealand, contact your local PGG Wrightson Real Estate branch.

Bay of Plenty/South Waikato/ Central Plateau

Waikato

Lower North Island

East Coast/Wairarapa

PGG Wrightson Real Estate office locations (Store placement and regional lines are an indication only - map details are not to scale )

Kaitaia 09 408 6130

Taihape

06 323 0076

Kerikeri Whangarei

09 407 4832 09 470 2522

Marton

06 323 0076

Dargaville Wellsford

09 439 3342 09 423 9712

Dannevirke Masterton

06 374 4630 06 370 1866

Pukekohe Hamilton

09 237 2014 07 858 5338

Matamata

07 888 4572 07 878 0265 07 889 0171 07 823 0647 07 870 6219

Te Kuiti Morrinsville Cambridge Te Awamutu Putaruru

PGG Wrightson Real Estate sub-office

Nelson/Marlborough

Canterbury/West Coast

Mid/South Canterbury

North Otago

Otago/Central Otago

Southland

Tauranga Rotorua Waihi Katikati Te Puke Whakatane Taupo Hastings Waipukurau Wairoa Feilding Levin

07 882 1485 07 571 5795 07 349 5486 07 863 6589 07 571 5795 07 571 5795 07 349 5486 07 377 8928 06 878 3156 06 858 6073 06 838 8059 06 323 0076 06 367 0820

South Island Nelson Blenheim Kaikoura Greymouth Rangiora

03 543 8590 03 578 3019 03 578 3019 03 768 1222 03 313 0610

Christchurch Ashburton

03 341 4301 03 307 8700

Timaru Geraldine Fairlie

03 687 7330 03 687 7330

Oamaru Cromwell Alexandra Dunedin Mosgiel Balclutha Te Anau Gore Invercargill

03 685 9092 03 433 1340 03 445 3735 03 440 2380 03 470 0317 03 470 0317 03 418 1381 03 249 8611 03 209 0300 03 211 3130

Welcome Even though some of our large metropolitan areas have slowed a little, provincial New Zealand’s lifestyle and residential real estate markets remain strong. For properties in the lifestyle and residential categories, we are experiencing positive enquiry throughout the country.

Meanwhile, in the rural property market, although potential purchasers of dairy farms are cautious and activity is light, in other sectors, particularly sheep and beef, viticulture and horticulture, buyers and sellers are active at above average levels, with several standout sales in recent months.

Alongside some wonderful listings of exceptional quality, this edition contains a broad array of properties across many South Island locations.

As you will see, the options available cater for all requirements, whether you want room for the pony, the option to carry a few stock, an opportunity to develop a great garden, room for the family to enjoy the great outdoors, or to upgrade or augment your farm.

As a business, our people are one of the key advantages we offer to the market. Many have considerable experience of lifestyle property, with a large percentage living the lifestyle dream themselves.

Likewise, several of our rural property specialists combine real estate with farming their own piece of dirt, and many more have previously done so.

With residential property, our sales people are immersed in the communities they operate in. They have considerable experience and knowledge of their towns and cities. Their depth of understanding is a critical advantage when undertaking what is, for most of the people we deal with, the biggest transaction you will make in your life.

Whether you are drawn to lifestyle, rural or residential property, I am sure you will find this publication enjoyable and interesting. Whether you are moving, upgrading or seeking a change, there is every chance you will find a property in here that meets your needs.

In addition, if you go to our web site, www.pggwre.co.nz, you will find a further vast range of properties to consider.

Peter Newbold - General Manager PGG Wrightson real Estate Limited

Image: Capturing the essence of the landscape (See page 30 to read about this stunning property)

Contents 2

Significant sales

3

Our company

4

South Island properties

42-43 Regional update 52-53 A closer look

feature articles 16-17 Big bush 22-23 Manahune 30-31 Capturing the essence of the landscape

PGG Wrightson Real Estate Limited is acting solely as the selling agent for the vendor, and is not responsible for the accuracy and completeness of information supplied by the vendor either directly or via PGG Wrightson Real Estate Limited, whether contained in an information memorandum or otherwise. PGG Wrightson Real Estate Limited has not verified such information and PGG Wrightson Real Estate Limited is not liable to any party, including the purchaser, for the accuracy or completeness of such information. Potential purchasers and investors should also note that the vendor is responsible for obtaining legal advice on any Securities Law aspects associated with the proposed transaction and that PGG Wrightson Real Estate Limited is not a promoter for Securities Law purposes but is solely acting in its professional capacity as a selling agent.

Significant sales The following is a sneak peek into the past few months’ successful sales from our top regions nationwide. If you are after local knowledge, experience and the best outcome, contact our real estate specialists today to get your property listed and sold!

Date Range: September 2018 - February 2019

SOLD

SOLD

Cromwell 1270m²

Southland 265.156ha

Jo Nieper / Neil Bulling

Andrew Patterson

This classic lake front property, sold in December 2018, offers a 267m² home with four bedrooms and four bathrooms, making it an ideal rental, Airbnb or B&B. With the property on Lake Dunstan’s edge, this property is ideal for those who love the water.

This 265.156ha fattening unit, with three bedroom home, has a full water scheme, woolshed, covered yards and cattle yards.

With strong soils, and a good history of finishing and grazing, the property was purchased for dairy grazing and supplement block in December 2018.

2

Helping grow the country

SOLD

SOLD

Culverden 844ha

Clydevale 353.11ha

Bruce Hoban

Stewart Rutter / Jason Rutter

Mandamus Downs is an 844ha sheep and beef farm with a good balance of hills, downs and flats. Sold in December 2018, after being held by the same family since 1908, the property is supported with a main homestead, two cottages and farm buildings.

Sold in January 2019 this 353.11ha finishing property includes a beautifully renovated five bedroom homestead set in mature gardens. With flat to easy contour and strong pasture history, the farm’s purchaser intends to use the property as finishing and supplement block.

Our company PGG Wrightson Real Estate is one of New Zealand’s largest single full-service real estate companies and is well-placed to offer exceptional specialist service throughout the nation. With 34 Offices and 27 Sub offices covering every region of New Zealand,14 sales managers, over 170 sales specialists, our lifestyle specialists span the country, ready to work together with you to exceed your best outcome.

As an organisation, our mission is to help grow the country – helping farmers to become successful. Ultimately, our ability to do this comes down to the products and services that we provide and, in particular, the capability and integrity of our people. While we are a big company, we value the importance of the local touch and encourage our people to bring fresh thinking to “go the extra mile” to help our clients succeed.

An outstanding brand The PGG Wrightson Real Estate brand stands out from all the others – signifying trust, integrity and remarkable results.

A network that really works When you deal with us, you are dealing with

one company and one team, not a group of franchised operators and offices. This means you get access to our national network, with salespeople covering the entire country, who really do work together to achieve the best possible outcome for you.

of our business, and the very reason for our success. Our staff are among the best and most accomplished in the real estate industry.

Together, they have made us who we are today and we recognise their importance in every aspect of our business.

Specialist knowledge and world-class service Our experienced, specialist staff will go out of their way to ensure your property objectives are met, delivering the very best service for your entire real estate experience, whether your property choice is urban, lifestyle or rural.

Unbeatable track record We aim to be the best in what we do and we have been focused on achieving this since our business was founded almost 170 years ago. Added to this is a genuine desire to make the process of buying and selling property an exciting and seamless experience for everyone.

People focused Our clients and our staff mean everything to us. This is our company’s hallmark and we are proud of it. Our clients are the core, the heart

A national team of expert locals.

Helping grow the country

3

South Island Sheep and beef farms featured heavily among South Island spring and summer transactions.

Big Bush, a 339 hectare Nelson Lakes farm sold just prior to Christmas.

Mandamus Downs, an 844 hectare Culverden, North Canterbury farm sold in December firm on local values, after being held in the same family for 110 years.

Manahune, a 249 hectare Glenmark, North Canterbury farm sold in November.

Waiau Pastures, a 400 hectare irrigated Parnassus, North Canterbury property sold in early February.

Lambourne, a 353 hectare Clydevale, South Otago property, carrying approximately 4000 stock units changed hands in late October for around $20,000 per hectare.

Waikerikeri Run, a 916 hectare hill country grazing property on the Dunstan Range, with a large QEII covenant, sold in January after a tender process.

Meanwhile, demand for South Island dairy properties is subdued. In Canterbury, values for farms in the most sought after dairy localities have eased between $5,000 and $7,000 per hectare this season.

4

Helping grow the country

93 Richmond Road, Pohara, Tasman

Three Dwellings, Cafe / Winery and Grazing - 247 Hectares

$3.55M

Hill country sheep farm in three titles with stunning sea views from the entire farm. Two-stand woolshed, good farm buildings, modern three-bedroom homestead on an elevated site with separate second dwelling plus a shearer’s cottage. Potential for B&B accommodation and rental income with function centre. Fully fitted out winery complex with bar facilities.

Plus GST (if any)

Doug Smith

Joe Blakiston

M 027 543 2280

M 027 434 4069

www.pggwre.co.nz/NEL29281

Helping grow the country

5

12 Tai Close, Kaiuma Bay, Marlborough

Accessible Sounds Retreat - 3,066m2

Enquiries Over $780,000

Under an hour from Blenheim or Nelson airport or an easy 30 minute drive from Havelock is Kaiuma Bay. This upmarket home features three bedrooms including master with en suite and large living areas. Outside is an outdoor entertaining area including in-ground swimming pool.

Including GST

Joe Blakiston

Greg Lyons

M  027 434 4069

M  027 579 1233

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Helping grow the country

www.pggwre.co.nz/BLE29328

Lot 41 Kaiuma Bay Road, Kaiuma Bay, Marlborough

Photo not taken from property

Sounds Section – Easy build - 3,564m2

$170,000

Lot 41 is a section of 3,564m2 with scenic views in Kaiuma Bay subdivision. The cleared site, formed driveway, consents and plans make an easy build or sound investment plan. Services are available to the boundary. Located close to Havelock and an easy drive from either Blenheim or Nelson makes this great value.

Including GST

Greg Lyons

Joe Blakiston

M 027 579 1233

M 027 434 4069

www.pggwre.co.nz/BLE29674

Helping grow the country

7

Lot 52 Orapito Road, Kaiuma Bay, Marlborough

Photo not taken from property

Sittin ‘On Top Of The Bay’ - 3,051m2

$180,000

Looking for an affordable property option in the Marlborough Sounds? Lot 52 Orapito Road is a well-positioned section of 3,051m2 with stunning views of the bay in the Kaiuma Bay subdivision. Services are available to the boundary. A great location close to Havelock and an easy drive from either Blenheim or Nelson.

Including GST

Greg Lyons

Joe Blakiston

M 027 579 1233

M 027 434 4069

8

Helping grow the country

www.pggwre.co.nz/BLE29675

Lot 77 Kaiuma Bay Road, Kaiuma Bay, Marlborough

‘Sounds’ Like Great Value In Kaiuma - 6,253m2

Enquiries Over $190,000

In the Kaiuma Bay subdivision of Pelorus Sound is this large cleared 6,253m2 section offering unique native bush, stream and so close to the marina. Lot 77 is flat and has services to the boundary. A peaceful private location close to Havelock and an easy commute to Blenheim or Nelson.

Including GST

Greg Lyons

Joe Blakiston

M 027 579 1233

M 027 434 4069

www.pggwre.co.nz/BLE29132

Helping grow the country

9

22 Bishell Lane, Blenheim, Marlborough

Productive Sauvignon Blanc Opportunity - 16 Hectares

Enquiries Over $3.65M

Well positioned on the edge of the Blenheim Town Boundary is an opportunity to invest in a viticulture production block. The total property is 16ha and features 14ha of flagship Marlborough Sauvignon Blanc plus 1ha of long-term lease vines. Reliable water source, sheds, workshop and upmarket office/meeting room offer many options for the future.

Plus GST (if any)

Joe Blakiston

Greg Lyons

M  027 434 4069

M  027 579 1233

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Helping grow the country

www.pggwre.co.nz/BLE28191

24 Gee Street, Renwick, Marlborough

Award Winning Boutique Marlborough Winery - 2.2 Hectares

Enquiries Over $3.5M

Gibsons Bridge Vineyard on two titles of 2.25ha (canopy area 1.37ha), produces about 25,000 bottles annually of single estate wines, most notably Pinot Gris but also Gewürztraminer and several red varieties. Consented for wine tasting and sale of wines through its cellar door, this multiple income proposition is exceptional.

Plus GST (if any)

Mark Terry

Sophie Greer

M 027 572 2559

M 021 204 9858

www.pggwre.co.nz/BLE27936

Helping grow the country

11

Cat Creek, Northbank, Marlborough

Irrigated Marlborough Farm Ready for Development - 234 Hectares

Deadline Private Treaty

Situated on productive Northbank flats with irrigation infrastructure, proven soils and reliable climate. Cat Creek has a substantial water right to irrigate 150ha of pasture, ample for the 90ha plus identified as being suitable for viticulture. The well-appointed property features a five-bedroom modern home, two substantial sheds and new cattle yards.

Plus GST (if any) (unless sold prior) Closing 4.00pm, Monday 29 April

Joe Blakiston

Mark Terry

M  027 434 4069

M  027 572 2559

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Helping grow the country

www.pggwre.co.nz/BLE30022

3255 Wairau Valley Road, Wairau Valley, Marlborough

Immaculately Presented Grazing Finishing Farm - 94 Hectares

Deadline Private Treaty

This well-presented 94.7ha property is now on the market. A four bedroom split level home is set amongst established trees in a private outlook. Numerous outbuildings, sheep and cattle yards. Approximately 38ha of established forestry, a good flat to hill ratio. Two kitchens and two bathrooms can give added income. Very tidy property.

Plus GST (if any) (unless sold prior) Closing 3.00pm, Wednesday 3 April

Ken McLeod M  027 433 4746

www.pggwre.co.nz/BLE30002

Helping grow the country

13

4263 State Highway 63, Wairau Valley, Marlborough

Prime Large Scale Viticultural Development - 131 Hectares

Deadline Private Treaty

131 hectares in three titles surrounded by established Wairau Valley vineyards. A water right to irrigate 110 hectares of grapes and a property featuring predominantly flats with several easy to develop terraces and potential water storage sites. Large scale blocks in this area are in demand so early inspection is advised.

Plus GST (if any) (unless sold prior) Closing 4.00pm, Monday 29 April

Joe Blakiston

Greg Lyons

M  027 434 4069

M  027 579 1233

14

Helping grow the country

www.pggwre.co.nz/BLE30026

79 Ward Beach Road, Seddon, Marlborough

Marlborough Lifestyle At Its Best - 4.4 Hectares

Enquiries Over $800,000

How about country living in an upmarket home? Located close to sunny Blenheim this 2008 built 290m2 home has four bedrooms plus office (or five bedrooms) and two bathrooms.

Large six-bay shed with three-bay powered workshop. There is a paddock to run stock or horses and adjacent extra land area is available to purchase.

Including GST

Greg Lyons

Joe Blakiston

M  027 579 1233

M  027 434 4069

www.pggwre.co.nz/BLE29080

Helping grow the country

15

Bush BIG

Crossing over on Nelson Lakes farm as one family enters while another exits the dairy sector

16

Helping grow the country

One family’s move into dairy has coincided with another couple exiting, passing the tenure of 339 hectare Nelson Lakes property Big Bush from the former to the latter.

Peter and Sharon Watson have owned the Kikiwa property since 2004. However, Peter’s association goes back further.

“My parents knew the farm’s owners between the 60s and the 80s. It’s a beautiful area,” he says.

On the farm the Watsons have overcome several challenges, including floods and snow, while building production.

In August 2011, Peter faced another challenge: a heart attack struck when the shearing shed pens were full. Instead of joining the shearers, Peter was in a helicopter heading to Nelson Hospital, for a stent implant.

After that, son Ben came back to help out, joining the family partnership along with daughter Vanessa. Peter and Sharon re-evaluated.

“Although sheep and beef has been my passion, it’s not necessarily Ben’s passion. He’s more interested in dairy. We decided to sell so that Ben can follow his passion,” says Peter.

They brought in PGG Wrightson Real Estate Nelson/Marlborough Sales Manager Joe Blakiston, and his colleague Greg Lyons, who put a price on Big Bush, which encouraged David and Sonya Thomas.

“I’ve always driven past and thought it would be a

nice place to own. When the fixed price went on, we realised it was within our scope,” David says.

Joe gave the Thomases a tour on a Saturday, they made their offer on Monday, and Big Bush was signed up shortly after. Previously they ran a large Matakitaki mixed dairy, beef and deer operation with David’s family, including 500 breeding hinds, built up initially from trapping wild deer.

“Deer are animals I have always enjoyed. I enjoy working with cows as well, though we wanted a better work-life balance, which a stronger emphasis on deer will bring,” says David.

Although 58 hectares of Big Bush was deer fenced, the Watsons have concentrated on sheep and beef. David and Sonya are changing that with 10 kilometres of deer fencing.

“We want to diversify and explore the biological benefits of cross grazing three different species,” says Sonya.

Matakitaki is at the end of a 30 kilometre gravel drive. David and Sonya look forward to a less remote new community.

“I’ve always wanted to be a volunteer firefighter, though the local fire brigade in Murchison was too far away for me to be of any use,” says David.

Meanwhile, the Watsons are pursuing their dairy plans at Canvastown, in the Rai Valley.

Helping grow the country

17

496 Haldons Road, Seddon, Marlborough

Exciting Viticultural Development Opportunity - 228 Hectares

Deadline Private Treaty

A newly completed 250,000m3 storage dam with its secure water right and 900ha water catchment provides a sound insurance policy for the 100ha plus viticultural land on this stunning Awatere Valley development. Comprehensive climate, soil and viticulture reports available to give the purchaser confidence in this gilt edged opportunity.

Plus GST (if any) Date to be confirmed

Joe Blakiston M  027 434 4069

18

Helping grow the country

www.pggwre.co.nz/BLE29477

2495 Inland Road, Waiau, North Canterbury

‘Mt Terako’ - A Special Property - 1,415 Hectares

$4M

A unique sheep and beef breeding property traditionally running Perendale sheep and Angus cattle. In an aesthetically outstanding location, a special feature of this property is the 391ha Queen’s Commonwealth Canopy Covenant area of native bush and scree. Excellent infrastructure including a modern four-bedroom home and a full range of farm buildings.

Plus GST (if any)

Peter Crean

Mark Clyne

M 027 434 4002

M 027 531 2964

www.pggwre.co.nz/CHR29122

Helping grow the country

19

822 Steffens Road, Oxford, North Canterbury

Irrigated Finishing / Dairy - 89 Hectares

$2.55M

This property has been extensively farmed for dairy support, cattle and lamb finishing.

Traditionally crops such as wheat, barley and oats have been grown. Irrigation water is provided via the Waimakariri Irrigation Company and is distributed by two travelling irrigators. There are extensive and established shelter belts. Suitable for multiple farming purposes.

Plus GST (if any)

Peter Crean

Mark Clyne

M  027 434 4002

M  027 531 2964

20

Helping grow the country

www.pggwre.co.nz/CHR28939

450 Woodstock Road, Oxford, North Canterbury

Established Country Living - 4.8 Hectares

$795,000

With an Oak Tree lined driveway, this well-established property is immaculate. A ‘builder’s own’ home with four bedrooms, main with WIR and en suite, open-plan kitchen/dining/ living, separate lounge, office and separate laundry. Separate self-contained flat and garage, other buildings and cattle yards. Six paddocks – you’re set to go here!

Including GST

Peter Crean

Mark Clyne

M 027 434 4002

M 027 531 2964

www.pggwre.co.nz/CHR29965

Helping grow the country

21

102 YEARS OF

Manahune Partnerships - the key to family’s 102 year tenure at Manahune 22

Helping grow the country

On 18 June 1915, the renowned North Canterbury Glenmark Estate was subdivided and offered by public ballot. Alice Thomson’s application was drawn.

A widow from London, Alice and sons Walter and Albert set about breaking in the farm, which they named Manahune.

acquisitions and leaving Stu, and Sue, with Manahune. They shifted the emphasis from Corriedales to prime lamb production.

Fast forward to 2018, Alice’s great-grandson Stu Thomson and his wife Sue, who had farmed Manahune since 1994, took the difficult decision to make a big change, as Stu explains.

“Our farming year focused on having lambs in top condition for our annual November onfarm sale. Glenmark tends to become dry in late spring, so lambing early made sense,” says Sue.

“We shifted to Auckland. With three daughters all at university, studying for careers that suggest returning to the farm is unlikely, we thought if we were going to make a change, we should do it earlier rather than later, and make an adventure of it,” he said.

When Stu and Sue took over Manahune, she was fresh from the United States, having met Stu on his OE. “I knew nothing about farming. I tried hard to adapt and we were happy,” she says.

Partnerships are consistent through the Thomson generations. First Walter and Albert developed the land from scrub and swamp.

Then Stu’s uncle Bert and father John, with wives Claire and Valerie, farmed from 1961 to 1991, replacing the horses with tractors, focusing on lamb and wool production, while leasing and purchasing neighbouring properties.

In 1991, with respective sons Philip and Stu ready to take responsibility, Bert and John sub-divided, handing Philip their more recent

Manahune typically had the most lambs and the best prices at Glenmark’s sale.

“In a good-price, grass-market year we made great returns, and in a tough year with little feed, it was a fantastic way to unload the stock and clear the decks, then sit tight and wait to start again,” Stu says.

Peter Crean and Mark Clyne of PGG Wrightson Real Estate, Christchurch marketed Manahune for the Thomsons.

“Manahune has an enviable reputation as a top livestock property. It has many farming advantages. We were delighted to negotiate a sale to a young local couple,” said Peter Crean.

Stu left with a sense of satisfaction.

“Every farmer I know is dedicated to looking after their land. I hope that Sue and I have left Manahune better than when we took over, as I know my parents and their generation did,” he says.

Helping grow the country

23

4/134 Early Valley Road, Tai Tapu, Canterbury

Private Oasis, Panoramic Views, Easy City Commute - 47 Hectares

Enquiries Over $1.395M

Stunning 47 hectare larger lifestyle block featuring a multi-level architecturally designed and energy efficient large family home. Panoramic views from Mt Hutt to Pegasus Bay whilst still being a very easy commute to the city. Established terraced lawns and gardens and associated infrastructure provide the opportunity to live ‘the good life’.

Including GST

Karen Hennessy

Sam Davidson

M 027 967 0186

M 027 488 8269

24

Helping grow the country

www.pggwre.co.nz/CHR29658

135 Copley Road, Chertsey, Mid Canterbury

Iconic Landmark Property - 202 Hectares

Price by Negotiation

Snake Gully Farm held by the Copland family for many years. Best of Chertsey silt loam, irrigated by Acton Scheme and two wells. Excellent homestead, cottage, support buildings and silos. Top yields of cereals, grass seed, legumes and clover. Regularly grows specialist and export crops. Top farm, well fenced, sheltered and laned specimen trees.

Plus GST (if any)

Hunter Doig M  027 220 1004

www.pggwre.co.nz/TIM27923

Helping grow the country

25

12 Wooding Road, Geraldine, South Canterbury

A Walk In The Park - 11 Hectares

$1.25M

An immaculate four bedroom home close to Woodbury featuring open plan kitchen/dining/ living with separate lounge, all with views of the spectacular mountain vista. Four double bedrooms (master with en suite), large office, excellent indoor/outdoor living, large double garaging and internal access. Separate single bedroom studio and good additional sheds.

Plus GST (if any)

Richard Scott M  021 352 701

26

Helping grow the country

www.pggwre.co.nz/GER29863

921 Te Moana Road, Geraldine, South Canterbury

Be Prepared To Be Impressed - 42 Hectares

Price by Negotiation

Substantial and meticulously presented property set in private landscaped gardens. Open plan kitchen/dining/living with formal lounge. Three double bedrooms with en suites. Bonus of a self-contained one bedroom cottage. Deer fenced, fertile and productive land with extensive sheds and ancillary buildings. The entire property exudes quality and attention to detail.

Plus GST (if any)

Simon Richards M  027 457 0990

www.pggwre.co.nz/TIM29907

Helping grow the country

27

215 Pages Road, Timaru, South Canterbury

Designed For Family Living - 937m2

$685,000

Situated on a corner site in popular Gleniti, this beautifully presented large Oamaru Stone home was built in 1998 with only two fastidious owners to date. With a fabulous garden and designed for entertaining and alfresco living, the home features four bedrooms plus office, modern kitchen, open plan dining area and sitting room plus formal lounge.

Including GST

Calvin Leen

Carly Galbraith

M  027 453 0950

M  027 332 2222

28

Helping grow the country

www.pggwre.co.nz/TIM29872

264 Waihaorunga Road, Waimate, South Canterbury

Your Next Step on the Farming Ladder - 158 Hectares

Deadline Private Treaty

• 100ha platform milking 320 cows on a 40-aside Herringbone shed with auto cup removers • Irrigated via the very reliable Waihao Downs scheme • Production budgeted 138,000kgMS 2018-19, self-contained • High standard of lanes and subdivision, implement sheds, workshop, calf sheds and yards

Plus GST (if any) Buyer enquiry over $3.8M Closing 1.00pm, Thursday 21 March

Simon Richards

Calvin Leen

M 027 457 0990

M 027 453 0950

www.pggwre.co.nz/TIM29948

Helping grow the country

29

COVER FEATURE PROPERTY

Capturing the

ESSENCE of the landscape

pggwre.co.nz/CRO29886 | Neil Bulling - 027 432 8978 | Jo Nieper - 027 664 5064

An award-winning Central Otago property is on the market.

30

Helping grow the country

Listed for sale by Neil Bulling and Jo Nieper of PGG Wrightson Real Estate, Cromwell and situated at Mt Pisa, on the banks of Lake Dunstan nine kilometres north of Cromwell, the 1900 square metre property was the Registered Master Builders’ Association Southern Region House of the Year in 2012, winning a gold award and triumphing in the ‘Builder’s Own Home’ category.

Neil Bulling describes it as an outstanding lakefront property.

“A wonderful and well-executed design complements the property’s exceptional views of the lake and Mt Pisa, to make for a highly desirable package.

Its citation in the House of the Year awards included the following:

paving. The home was designed to capture the essence of the Central Otago landscape.

This substantial two-level home consists of four double bedrooms, all with their own patio/deck.

It also encompasses two lounges, including an upstairs area off the master bedroom, an open plan dining area and a state-of-the-art kitchen. It has three bathrooms, including one integrated with the laundry area. The home also boasts two double garages, one of extra height for the boat/caravan.

“This substantial home reflects the context of the area, both with the choice of colours and external materials, including schist stone and

“The home’s solid construction includes concrete floors, concrete-filled masonry walls, concrete pre-cast feature stairwell and internal

“Designed to reflect the surrounding landscape, including water, mountains and the light shows provided by the changing seasons, it combines relaxation and peace with the opportunity to entertain.

“This is a contemporary home of the highest quality, with easy access to Central Otago’s many great lifestyle attractions,” he said.

and external schist feature walls, providing thermal mass to retain heat in the winter and keep cooler in summer.

“Large glass doors throughout provide uninterrupted views of Lake Dunstan and the surrounding mountains. Hardwood decking and concrete patios extend the outdoor living with seamless access.”

Designed by late Christchurch architect Bruce Taylor, the house was built by local Central Otago company CDL Building.

Helping grow the country

31

8236 Ranfurly-Wedderburn Road, Ranfurly, Central Otago

Maniototo Breeding And Finishing Unit - 296 Hectares

Price by Negotiation

This very desirable irrigated Maniototo property in two titles is located on the outskirts of Ranfurly Township. Improvements include a four-bedroom homestead, three-stand woolshed, calf-rearing sheds, pivot and k-line irrigation. Irrigation water via Hawkdun shares plus a water gallery consent. Large capacity stock water for cattle winter grazing.

Plus GST (if any)

Paul Thomson M  027 435 3936

32

Helping grow the country

www.pggwre.co.nz/DUN29851

7189 Wedderburn-Becks Road, Wedderburn, Central Otago

Commercial Beekeeping Business - 1.6 Hectares

$2.25M

• Currently operating around 1,300 hives in Central Otago • Approximately 70 full time clover sites and seven seasonal spring sites for thyme • Six-bedroom home, around 254m2 with modern double garage • Range of buildings for the operation, RMP certified for honey production and storage

Plus GST (if any)

Sally Taylor

Alan Turner

M 027 346 7986

M 027 454 4222

www.pggwre.co.nz/DUN29799

Helping grow the country

33

Hampden-Palmerston Road, Bushey, Otago

Tidy And Productive Small Holding - 24 Hectares

$480,000

Situated on State Highway One at Bushey just outside Palmerston, this well positioned and productive bare land block currently runs stud cows and heifers. A good set of five year old cattle yards, various building sites and six permanently-fenced paddocks flat-to-rolling in contour. TB free area.

Plus GST (if any)

Craig Bates

Paul Thomson

M  027 489 4361

M  027 435 3936

34

Helping grow the country

www.pggwre.co.nz/DUN29550

1351 Dunback-Morrisons Road, Palmerston, Otago

East Otago Small Farm - 29 Hectares

Deadline Private Treaty

29.4 hectares of flat-to-easy contour land. This small farm would complement any existing larger unit for the supply of supplements or an additional block. Equally would be an ideal retirement or first farm situation. Tidy three-bedroom home built with low maintenance materials. Located handy to Dunback and within 14km of Palmerston Township.

Plus GST (if any) Closing 12.00pm, Thursday 4 April

Paul Thomson M  027 435 3936

www.pggwre.co.nz/DUN30007

Helping grow the country

35

14 and 16 Patmos Avenue, Dunedin, Otago

Historic Dunedin Property - 5.2 Hectares

Price by Negotiation

An exceptional property in which the owners have incorporated all the comforts and amenities of modern living. The outstanding home with sweeping lawns, majestic trees, native bush, picturesque stream and two-bedroom ‘Gate Cottage’ all are within walking distance to George Street, the University and the Octagon.

Including GST

Craig Bates

Roger Nicolson

Paul Thomson

M 027 489 4361

M 027 886 0618

M 027 435 3936

36

Helping grow the country

www.pggwre.co.nz/DUN29988

55A Riccarton Road, East Taieri, Otago

Superior East Taieri Lifestyle - 3,150m2 (STS)

Price by Negotiation

Magnificent five-bedroom home, attached double-garage and workshop set on an established 3,150m2 section (subject to final survey). Some of the many features include separate lounge, open plan kitchen, dining/living area, two bathrooms plus toilet and washroom in the garage.

This home is a cut above the average giving a rural appeal while living in town.

Including GST

Roger Nicolson M  027 886 0618

www.pggwre.co.nz/DUN29979

Helping grow the country

37

437 Gladfield Road, Mosgiel, Otago

Taieri Elevated Large Lifestyle - 27 Hectares

Deadline Private Treaty

• Elevated building platform on prime bare land with panoramic rural views • Within minutes of Mosgiel township the property is deer-fenced on road boundary • Large utility shed, bore water scheme gravity reticulated to troughs in all paddocks • Well-fenced with young pastures

Plus GST (if any) Closing 12.00pm, Friday 5 April

Paul Thomson

Craig Bates

M 027 435 3936

M 027 489 4361

38

Helping grow the country

www.pggwre.co.nz/DUN30009

269 Dukes Road, Mosgiel, Otago

Productive Small Taieri Farm - 36 Hectares

Price by Negotiation

Situated in an excellent location just minutes from Mosgiel. Facilities include a woolshed/ store shed, four-bay implement shed, cattle and sheep yards. Mainly deer-fenced into 12 paddocks with lanes. The home is modern and fresh containing four bedrooms, two living areas, two large deck areas and is set in sheltered, and established grounds.

Plus GST (if any)

Craig Bates

Roger Nicolson

M  027 489 4361

M  027 886 0618

www.pggwre.co.nz/DUN29432

Helping grow the country

39

583 Coast Road, Wangaloa, South Otago

Seaside Lifestyle Property - 8.2 Hectares

Deadline Private Treaty

Immaculately-presented near new four-bedroom plus office home with double-garage has uninterrupted panoramic ocean views. 11 x 10.5m implement shed capable of housing the helicopter, horse float and fishing boat plus a horse stable and air strip. Sandy beach for walks, horse riding or launching the fishing boat.

Plus GST (if any) Closing 12.00pm, Thursday 28 March

Paul Thomson M  027 435 3936

40

Helping grow the country

www.pggwre.co.nz/DUN29972

83B Mount York Road, Te Anau, Southland

Farming Lifestyle With Location And Views - 55 Hectares

$1.3M

Te Anau deer farm in superb location close to town. Stunning views looking out to the Fiordland mountains. Four-bedroom family home with great outdoor decking. Rolling contour with numerous improvements. All deer-fenced with upgraded handling facilities.

Additional easement access for possible subdivision.

Plus GST (if any)

Peter Lewis M  027 202 2405

www.pggwre.co.nz/TAN29467

Helping grow the country

41

Regional update Tasman

Canterbury

West Coast

During late spring and early summer local climatic conditions for pastoral farming, arable and horticulture enterprises were excellent.

However, the Tasman region suffered a drier start to 2019 than most would prefer, resulting in Nelson’s catastrophic fires and challenging conditions elsewhere, including water restrictions. Much of the rural property on offer prior to Christmas sold well, including viticulture development blocks with good rights to water.

Big Bush, a 339 hectare Nelson Lakes sheep and beef farm, also changed hands firm on recent values shortly after a tender process. Farms are generally selling to purchasers from within the region. Sheep and beef farmers repaying debt and paying tax makes a positive situation for rural property sales. With few Nelson and Marlborough farms available, any that come to the autumn market should be eagerly welcomed by motivated purchasers.

Some notable North Canterbury sheep and beef breeding and finishing properties sold well during the summer. These include 844 hectare Culverden farm Mandamus Downs, 249 hectare Glenmark property Manahune, and Waiau Pastures, a 400 hectare irrigated Parnassus property. These sales illustrate that willing buyers will come forward for properties with scale and productivity. Any farms with similar credentials offered to the autumn market should be well received. Properties carrying fewer than 5,000 stock units drew less attention. Meanwhile, as in several other regions, potential purchasers of dairy property are hesitant. Factors including tighter environmental regulations and the removal of overseas investors have persuaded some that a price correction in the sector may take place. They are holding back until that occurs. Any autumn correction for dairy property values would provide impetus for the Canterbury market, though is not inevitable.

Although the weather was excellent and grass abundant, despite its best efforts, local cooperative Westland Milk Products was unable to offer its suppliers returns to match those of companies elsewhere. With most of the region’s farms in dairy, and Westland’s payout not sufficiently above $6 to give farmers confidence, the West Coast’s summer rural property market activity was scarce. Farm values in the region start at around $20,000 per hectare, considerably lower than in other regions. With good systems, these properties will sustain 2.5 cows per hectare, which should provide a fair return on efforts, even with a $6 payout. However, without a minimum of 50 per cent equity, new entrants to ownership will not secure finance to support purchases. This situation is unlikely to change during the autumn, or any time until forecast returns can be consistently elevated.

42

Helping grow the country

Mid and South Canterbury

Otago

Southland

Despite the listing of several excellent Mid and South Canterbury rural properties in the summer, the market was not especially responsive and few transactions resulted. Value expectations among purchasers are possibly between five and ten per cent below those of vendors. Purchasers and their financiers are paying particular attention to balance sheets and to a farm’s productivity under new land and water use regulations. Nitrogen budgets have become a key component of any sale, and without a balance sheet strong enough to take on additional debt, a cautious approach to any new purchase is inevitable. Forest Downs, a 319 hectare bull beef finishing farm between Geraldine and Fairlie, going to auction at the start of March, should give a reliable gauge of where the Mid and South Canterbury rural property market sits, and may provide a lead for increased activity during the autumn.

Otago’s summer rural property market focused mainly on the sheep and beef sector. Demand for quality properties above 4,000 stock units was strong across the region, and particularly in South Otago, including from purchasers based in Canterbury and Southland intending to relocate. Owners of such farms considering selling would be well advised to act during the autumn to take advantage of what is definitely a sellers’ market for this size and scale of property.

Prospective purchasers seeking fine wool properties were also evident in the summer.

Waikerikeri Run, a 916 hectare hill country grazing property on the Dunstan Range, with a large QEII covenant, sold satisfactorily after a tender process. South Otago properties also sold well. Although activity in the dairy sector was subdued, a 159 hectare Henley, Taieri Plains dairy farm did sell, purchased by a local buyer with other investments in the dairy sector.

Although Southland’s summer rural property market started slowly, sales of dairy and dry stock farms picked up through December and January as more vendors accepted a market correction. Most of the interest was from local buyers, although dairy sector interest from the North Island was also noted. Corporate activity around Southland farms is more apparent than elsewhere in the country, with yields in the region sufficient to attract investment. However, in line with other regions, larger dairy properties are difficult to sell. While Northern Southland dry stock farms are well sought after, after a busy spring, few were offered for summer sale. During autumn steady market activity is likely. Sheep and beef properties in the $2 to $3 million range should continue to sell well, with most likely purchased by farmers in near proximity. Banks are supporting purchases of cash positive businesses.

Helping grow the country

43

200 Balfour Ardlussa Road, Balfour, Southland

‘Lanzdown’ Dairy With Cows Included - 219 Hectares

$7.25M

• 50 bail rotary dairy shed with 600 cow yard, five-bedroom home plus second home • 51 paddocks plus six calf paddocks, milking 500 mixed age cows • 90-day effluent storage with slurry tanker dispersion • An Open Country supplier offers production upside

Plus GST (if any) Includes land and buildings, 500 mixed age in-calf cows and slurry tanker

Bill McDonald

Darrell Duncan

M 027 434 1928

M 027 432 5767

44

Helping grow the country

www.pggwre.co.nz/GOR29164

237 Koi Road, Waikoikoi, Southland

Opportunity Of A Lifetime - 365 Hectares

$7.65M

PGG Wrightson are privileged to offer prestigious ‘Greenbank’ to the market.

• Four-stand raised board woolshed and covered yards, numerous sheds plus workshop • Outstanding lane system and fences. Own private water scheme • Majestic two-storied homestead nestled in park-like surrounds located at Waikoikoi

Plus GST (if any)

Derek Ayson

Bill McDonald

M 027 667 9601

M 027 434 1928

www.pggwre.co.nz/GOR29422

Helping grow the country

45

343 Reid Hill Road, Gore, Southland

Ideal Multi-Purpose Farm - 133 Hectares

$3.2M

• Easy-rolling contour in two titles - 80.9ha house and land block, 52.8ha bare land block • Reliable Waikoikoi farming area suitable for sheep, dairy grazing and cropping • Northerly aspect, very well subdivided and an excellent array of farm buildings and sheds • Comfortable three-bedroom home with sleep-out plus large garage

Plus GST (if any)

Bill McDonald

Darrell Duncan

M 027 434 1928

M 027 432 5767

46

Helping grow the country

www.pggwre.co.nz/GOR29694

331 Glendhu Road, Waimumu, Southland

‘The Terraces’ - Waimumu - 304 Hectares

$6.25M

• 304ha quality land in a reliable farming area. Available as one lot or four separate lots • Suitable to run sheep, beef or as dairy support. Partially deer-fenced • Private water scheme with two bores and a good array of farm buildings and yards • Approximately 15ha of pruned mature pine plantations. Comfortable four-bedroom home

Plus GST (if any)

Derek Ayson

Darrell Duncan

M 027 667 9601

M 027 432 5767

www.pggwre.co.nz/GOR29733

Helping grow the country

47

722 Seaward Downs Gorge Road, Edendale, Southland

It’s All Here - 38 Hectares

$930,000

Four-bay implement shed and excellent cattle yards, water reticulated to paddocks from bore. 4.5ha Kale, pockets of established native bush. Mostly Waikiwi soils and located just 15km from Edendale.

Plus GST (if any)

Andrew Patterson M  027 434 7636

48

Helping grow the country

www.pggwre.co.nz/INV29847

328 Woodslea Downs Road, Pine Bush, Southland

Established Dairy Run-Off - 209 Hectares

Deadline Private Treaty

Laned to approximately 40% of farm. Water system with 40ml mainline for dairying.

Modernised four-bedroom brick home plus full range of farm buildings including cattle yards. Own rock quarry on farm and three appealing duck ponds. Wintering 500 cows, 285 calves, 120 R2 heifers, additional 165 R2 heifers until 1 May.

Plus GST (if any) (unless sold prior) Closing 12.00pm, Wednesday 3 April

Jim Fortune M  027 594 8346

www.pggwre.co.nz/INV27851

Helping grow the country

49

175 Woodslea Downs Road, Pine Bush, Southland

Well Located Grazing Unit - 215 Hectares

$3.25M

Classic sheep and beef unit with rolling contour, well situated in a popular district. Fourbedroom home, four-stand raised board woolshed and covered yards, four-bay hay barn and three-bay implement shed and workshop. The property is well subdivided with three small areas of pine plantations and has flax and poplar shelter belts.

Plus GST (if any)

Jim Fortune M  027 594 8346

50

Helping grow the country

www.pggwre.co.nz/INV29065

521 Orepuki Riverton Highway, Tihaka, Southland

Dairy Farm In Recreational Paradise - 114 Hectares

$2.99M

Attractive coastal dairy farm located only 6km from Riverton with centrally-located 36 ASHB shed with feed pad, consented until 2028. Two homes and very good sheds including calf shed, implement shed and fertiliser bin. Situated to take advantage of some of Southland’s premier recreational areas. Land area subject to final survey.

Plus GST (if any)

Robin Greer M  027 433 2058

www.pggwre.co.nz/INV29876

Helping grow the country

51

A closer look Sheep and beef Several strong sales of sheep and beef property were recorded in the summer, including in west Waikato, the King Country, Hawke’s Bay, North Canterbury and South Otago. One such, a 286 hectare, Tauwhare, Waikato farm, carrying around 4500 stock units and offered for the first time in 58 years, sold prior to Christmas after a tender process, in two separate transactions, with the main block selling for $16,000 per hectare and the cropping capable flats for $60,000 per hectare. In some districts, particularly the upper North Island, sheep and beef property values have lifted by as much as 15 per cent in 12 months, and more in the better located areas, which is powerful encouragement for those farmers considering retiring. Purchasers tend to be neighbours, motivated to consolidate their holdings, while others are similarly keen to upscale to larger blocks.

52

Helping grow the country

South Island dairy Demand for South Island dairy properties was low during the summer. In Canterbury, including Mid and South Canterbury, what purchasers will pay for high specification spray-irrigated units in the most sought after localities has eased between $5,000 and $7,000 per hectare. However, there were too few listings, insufficient inquiry and not enough sales activity to fully validate this correction.

In Southland pricing expectations range from $35,000 to $38,000 per hectare at the better end; $28,000 to $33,000 per hectare for mid-range dairy farms, where demand is strongest; and in the low to mid $20,000s for the region’s least sought after properties. Market impetus for South Island dairy farms is unlikely to increase in the autumn, in fact it is more likely to be the end of September, after calving, before more properties are offered and more purchasers renew their interest.

Viticulture Several smaller Marlborough vineyards sold in summer as vendors were prepared to meet the market. Development blocks with good rights to water remain in keen demand from corporate buyers. One such, a 166 hectare Awatere property, was offered for spring sale, with a deal likely to be confirmed by early autumn. Another Awatere property, with exceptional water storage already in place and up to 110 hectares suitable for Sauvignon Blanc or Pinot Noir, will also attract

attention. Approaching the end of summer, buyers were looking at vineyards for post-harvest possession, by which time most crop outgoings will be expended and the year’s yields apparent.

With the extraordinarily dry February affecting several irrigation schemes, tonnages and returns for the 2019 harvest will be down. This will have an impact on the market with continued downward pressure on smaller vineyard block prices likely.

Kiwifruit Values for optimum Te Puke gold kiwifruit orchards sit at $1.2 million per canopy hectare.

A handful of these properties sold during the summer, and a few more are likely to as autumn proceeds. However, relatively few are on the market compared to recent years as growers prefer to reap the returns of high export demand.

Outside the crop’s heartland, a 9.86 hectare gold kiwifruit orchard at Haumoana, near Clive in Hawke’s Bay, producing around 14,000 trays per hectare in an early start area, with a house on the property, sold for $10 million in early February.

As Zespri issues licences to grow 750 hectares of additional gold kiwifruit per annum until 2022, demand will continue. Much of that will be met by converting green kiwifruit orchards. However, new development blocks are also highly sought, including beyond the Western Bay of Plenty.

Pipfruit and Stonefruit Demand for Hawke’s Bay pipfruit and stonefruit property outran supply during summer, and is likely to remain unmet through autumn, meaning realistically priced orchards offered for sale should sell well. Recent sales included an 8.3 hectare Havelock North apple orchard, with a small coolstore, which sold for $1.25 million. A 7.68 hectare property midway between Hastings and Napier, with a modern home and a peach, plum and nectarine orchard was offered for sale by tender in late February. Like many pipfruit and stonefruit properties, this combines horticulture with lifestyle, attracting interest from prospective owners, including from outside the region, seeking to live there while leasing out the orchard.

Several larger new orchard developments are in process, up to 30 hectares, generally on leased land, including in Puketapu, Havelock North and Haumoana. These are scheduled to start producing in 2020.

Cropping Due to the warm January, this summer’s harvest was completed relatively quickly and early.

However, wheat yields were down two to three tons per hectare and the wet spring meant a poor white clover harvest. While oats and other crops were average, cropping farmers with properties of 350 hectares or more still anticipate a drop in gross income between $300,000 and $400,000, or 13 to 18 per cent below average. Without that spare

cash, additional land investment this year is unlikely, particularly when vendor expectations for premium cropping farms exceed $50,000 per hectare. Any owner considering selling will likely withhold until next year. One high quality property for sale with strong buyer interest is a 385 hectare irrigated arable, lamb finishing and deer unit at Newland, 10 kilometres east of Ashburton.

RURAL

LIFESTYLE

Forestry Export demand for New Zealand logs remains steady. India is becoming a more important market, alongside China. Domestic demand for timber also pushes business through local mills. Demand for forest property is tied directly to these trends. Prices for mature forests sit firm at between $25,000 and $30,000 per hectare, while premium quality forestry, with convenient access to ports, is changing hands at $40,000 per hectare. Bareland blocks suitable for forest plantation, between 20 and 100 hectares, are selling in the $5,000 to $6,000 per hectare range, with some Hawke’s Bay properties selling for more. Existing forestry interests account for most investment. As purchasers can either buy land or just cutting rights, overseas investment regulations have not altered the market. With little likelihood that export demand will drop, the seller’s market is set to continue in the forestry property sector.

RESIDENTIAL

More Great Property This autumn the choice is yours.

With a national team of local experts who understand their regional market, as well as being connected to a national network, we have rural, lifestyle and residential properties for sale throughout New Zealand.

Choose the property that fits you.

To view your options online, including our national publications ‘Lifestyle Collection’ and ‘Property Express’, go to www.pggwre.co.nz.

www.pggwre.co.nz

PGG Wrightson Real Estate Limited, licensed under the REAA 2008.

For outstanding results and unparalleled expert knowledge, talk to New Zealand’s leading rural, lifestyle and rural-residential property specialists today.

PGG Wrightson Real Estate Limited, licensed under REAA 2008

Back cover image: ‘Commercial Beekeeping Business’ (see page 33 for more information this property)