Two large adjoining properties up for sale in the Hakataramea Valley, Kurow, have a combined asking price of $12 million (excluding GST).
Foveran Deer Park comprises two properties, Foveran Station (1388ha) and The Brothers (1257ha), which have both been placed on the market by owner, Bob Robertson of Wanaka, and are available for purchase separately or together. Sales material suggests the two units combined are capable of carrying in excess of 14,000 stock units.
Mr Robertson is the founder and managing director of Infinite Investment Group which is a private real estate development company based in Wanaka. The company were involved in the Fiordland Link Experience, a $150 million proposal to build a monorail from Queenstown to Lake Te Anau. Conservation Minister, Nick Smith, declined the application in May.
Mr Robertson said deciding to sell the properties was a business decision.
“These are big assets and there is a lot of free cashflow in the asset.”
“The farm is at the stage where Foveran is at the top of it’s career and the other property is ready for development – we decided we’d let someone else take the reins of that.”
Property Brokers sales consultant, Michael Richardson, said interest in The Brothers had been particularly strong to date from mainly New Zealand buyers.
Foveran Station is described as the cornerstone property in the portfolio having been in the Robertson family for three generations. It includes two fully deer fenced trophy hunting parks and 170ha is irrigated by two centre pivots and k-line. The farm has a deer complex and selling arena.
Mr Richardson, said the red deer stud originated from Glaadt Park in Germany where the famed Schulte Wrede herd resided. Deer were purchased and imported to Foveran in the early 1980s and the bloodline has helped establish Foveran as one of the largest and longest established deer studs in New Zealand. Around 2,500 stud deer are farmed today.
The Brothers is a mixed sheep and beef farming operation and has consents to dam 1,300,000 cubic metres of water, to take 2000 litres per second and to apply at a rate of 250 litres per second. This would allow an area of about 390ha to be irrigated.
By LINDA MCCARTHY