Dunloe – Sold at Auction

Dunloe marketed by Colliers International sold at auction on Thursday 30 July 2015.  Dunloe is a 314 hectare bull beef unit located on Waihau Road, Waihau, some 42-45km from Napier/Hastings.  A feature of the property is its very good balance of near flat to easy contoured hill country together with areas of some steeper sidlings.  Some 30 hectares of steeper gully areas have been established in mid-term Pinus radiata.  Building improvements include a comfortable four bedroom dwelling, four-stand wool shed, deer shed, implement shed, hay barn and other sundry buildings.  Stock handling facilities include a set of cattleyards.

The property was purchased at auction by an adjoining owner for $4M.  This sale continues the trend of good market prices for pastoral properties in the Hawke’s Bay locality.

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July 31, 2015 at 3:40 pm

Dairy Land to Viticulture

The recent announcement of the sale of Hawke’s Bay Dairies main dairy farm and Rauriki blocks to Delegats for $29,300,000, sets a new precedent for land values in the Hawke’s Bay locality.  The change of land use from dairy to viticulture highlights the versatility of flat land with irrigation.

Analysis of the value of the flat land suitable for planting in viticulture on a per hectare basis is close to $43,000/ha.  There are many factors to consider in arriving at this value including the value of the water consents and any surplus water, the value of surplus land not suitable for viticulture, particularly on the Rauriki block, the value of forestry and the added value of plant and improvements on the dairy farm to a viticulturist.  Our analysis of close to $43,000/ha is well above values seen in the locality in the past.  However as the sale is in close proximity to existing Delegats operations, an adjoining owner premium is also worthy of consideration.

If this level of value becomes the new norm for bare land suitable for viticulture perhaps the Ruataniwha Plains may become a sea of vineyards when the dam proceeds.

May 13, 2015 at 9:19 am

Silver Fern Farms Hawke’s Bay Farmer of the Year 2015

Trish and Craig Sinclair of Kohurau, Glenross Road, Waiwhare were announced the winners of the Silver Fern Farms 2015 Hawke’s Bay Farmer of the Year at the Napier Ports Primary Industry Awards dinner held 1 April 2015.  The business includes a 718ha Sheep and Beef unit on Glenross Road with a further property on River Road.  “A stand out for the judges was the Sinclair’s achievements with high sheep and cattle performance in their challenging environment, farming 650 to 720 metres above sea level.”  A field day is to be held on farm, 23 April 2015.

Winners of other categories included Justine Kidd who won the Hastings District Council Leadership Award recognising innovation in the local industry. The Laurie Dowling Memorial Award for outstanding contribution to agriculture went to New Zealand Federated Farmers immediate past president Bruce Wills, the Pan Pac Hawke’s Bay Farm Forester of the Year went to Simon and Josie Beamish from Awapai Station and third-year university student Kahlia Fryer won the Lawson Robinson Hawke’s Bay A&P Scholarship.

April 8, 2015 at 9:40 am

Proposed Ruataniwha Dam Update

The Hawke’s Bay Regional Investment Company (HBRIC) has extended its financial closure date from 31 March to 30 June 2015.  The target for HBRIC is around 40,000,000m³ of water in order to obtain institutional investment in the scheme.  An HBRIC report advised current levels of farmer uptake is approximately 9,620,000m³ of water with further contracts written but yet to be signed.  More urgently HBRIC requires $3.3 million in funding to keep the project going, of which $2 million is required urgently for geotechnical work to be undertaken at the dam site.  The project has faced delays through an ongoing legal challenge to its consents and a related environmental plan change for the Tukituki catchment.  There is an expectation that once resource consent issues are finalised, famer uptake will increase significantly.

March 11, 2015 at 3:02 pm

Gruinard Station – Sold at Auction

Gruinard Station marketed by Doug Smith of PGG Wrightson Ltd sold at auction on Thursday 30 October 2014.  Gruinard comprises 601 hectares located on Mackenzie Road, approximately 22km southeast of Havelock North and adjoining the Tukituki River.  Gruinard is a very well presented farm in the central valley of predominantly improved pastures including chicory and plantain.  This is complimented with a balance of medium to steep contoured hill country with a further 30 hectares able to be irrigated by K-line.  The property comprises some 21 hectares of mixed age forestry plantations.  Building improvements include a well maintained, modernised four bedroom colonial homestead set in attractive grounds with fenced tennis court and swimming pool, a three bedroom cottage, six-stand woolshed, workshop, good quality sheep and cattle yards and three hay barns.

Bidding was strong between a neighbour and near neighbour with eventually the near neighbour purchasing the property under the hammer for $6.4M.  This is considered a very good sale.

November 3, 2014 at 3:18 pm

Napier Hill – Old Hospital Site

Todd Property Group have lodged their resource consent application with Napier City Council for the next stage of the redevelopment of the former hospital site on Napier Hill. The application is to build 11 stand- alone homes, 21 townhouses and two apartment buildings. Each apartment building would contain 18 apartments and one café. They would replace the existing two hospital towers. The application is likely to go to a formal hearing.

October 6, 2014 at 10:54 am

Supermarket Expansions Planned

Foodstuffs have lodged a resource consent application for a replacement Pak’nSave at their existing site in Tamatea Napier. If resource consent is granted building is due to start in mid 2015. The current store will remain open and be demolished once the new store is trading.

In Hastings the Countdown Supermarket at Queen Street West sold in February 2014 for $7.1m. The adjacent site owned by the Hastings RSA is under contract, reportedly for around $3.3m, and is planned to be redeveloped to provide an expanded Countdown Store across both sites. The RSA club is planning to amalgamate with the Heretaunga Club.

In Havelock North, Countdown is still actively looking for a supermarket site, with a site identified on Havelock Road but this is already raising objections from neighbouring owners.

October 6, 2014 at 10:52 am

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