Mortgagee sale offers multiple purchasing options

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Media Release: Bayleys Real Estate
Date: 4 November, 2009
2 pages total

Mortgagee sale offers multiple purchasing options

Two Whangapoua dairy farms plus a coastal grazing block will go to mortgagee tender with Bayleys on 26 November providing the opportunity for discerning buyers to benefit from the current circumstances leading to a necessary sale.

Marketed by Karl Davis of Bayleys Waikato and John Riddle of Bayleys Coromandel, the properties sit on five titles over 370 hectares and are available as individual blocks, or collectively.

Located between the Coromandel beaches of Matarangi and Whangapoua, the property as one entity is significant because of the scale it offers.

“It’s a large scale property for this region so is very desirable and coupled with the fact that there have been no properties sold within a 100 km radius in the last three months, we are experiencing strong levels of enquiry,” says Mr Davis.

On offer is a 182 hectare dairy farm, a 95 hectare dairy farm and a 92 hectare coastal grazing block.

The larger of the two dairy farms has approximately 70 hectares of easy to rolling and 112 hectares of flat to easy country. Around 130 hectares is effective - subdivided into 60 paddocks with mainly electric fencing – along with 16 hectares in pines. Soils are primarily Ohinemuri loamy sand to silt loam. There are two homes on this property while support buildings include a 24 a-side herringbone dairy shed, stock yards, half round barn and store room.

“The contour and the solid infrastructure in place on this block make it appealing and with a bit of effort, there’s the potential to develop it further and therefore add some value,” says Mr Davis.

The 95 hectare dairy farm has approximately 60 hectares flat to easy, 20 hectares low flats and 15 hectares easy to rolling country. Around 83 hectares is effective - with 55 paddocks mostly electric fenced but with some post and batten on the boundaries - and 2.5 hectares in pines. Soils are predominantly Whitianga silt loams. There are two older homes on the property with support buildings including a 22 a-side herringbone dairy shed, three hay barns, a large calf-rearing shed and various other buildings.

“This farm is connected to the grazing block by way of an underpass,” says Mr Davis.

Meanwhile, the coastal grazing block is currently subdivided into 22 paddocks with 13 hectares flat and 79 hectares rolling to steeper contour and mainly ash soils.

“Consent is in place for an eight-lot subdivision of this land so for those buyers with a keen eye to the future, there is scope to enhance the initial investment.

“This area gets very good summer rainfall and overall has a very mild climate which makes farming more straightforward,” says Mr Davis.

The Opitonui Stream flows through the property and finds favour with white baiters while nearby Whangapoua Harbour is renowned for its flounder and shellfish and for being the gateway to the magnificent Mercury islands.

Tenders close on 26 November with Bayleys Waikato and there will be an Open Day at the property on 3 November and 10 November with other viewing times by arrangement.

ENDS

View the property online at www.bayleys.co.nz/84120

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