“KINDAR” Sale

April 30, 2013 at 11:25 am

The property of “Kindar” located on State Highway 50, Onga Onga, sold at auction Wednesday 24 April 2013.  “Kindar” comprises a 150ha dairy runoff block with a good level of improvements including a 5 bedroom homestead, woolshed, implement shed, 2 haybarns, and sheep and cattleyards.  Some 30ha of land is able to be irrigated.  Irrigation and stock water is provided from a 200mm bore.  Land comprises 45ha of undulating flats, 34ha of river flats with the balance being cropping land including Hastings, Poporangi and Argyll soils.  The property sold for $2.63M, which is some 18% less than its last sale price at the peak of the market in 2008 of $3.2M.  Analysed land values for the irrigated Hastings silt loam soils equate to $20,500/ha which is similar to other sales on the Ruataniwha Plains over recent times.  This property is located in the proposed irrigation area of the Ruataniwha Plains Dam, and this sale suggests that no premiums are yet being paid to secure land within this area.

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Entry filed under: Rural Market.

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