Swedish-owned Ingleby expands rural holdings

Sir Peter Tapsell (TVNZ)
97 Matahiia Rd, Ruatoria, East Cape (Google Street View)

Ingleby New Zealand has acquired 698ha from the estate of Sir Peter Tapsell for $2.7 million.

Taoroa Station is located at 97 Matahiia Rd, Ruatoria, East Cape.

The Swedish-owned company is part of an international farming company, which highlights a commitment to sustainability.

The company says it plans to convert the property into an organic finishing farm and integrate it with its neighbouring Matahiia Station, “resulting in an organic property of sufficient size to finish stock from its other East Coast organic breeding farms,” according to information lodged with the Overseas Investment Office.

“Ingleby plans a substantial capital development programme to increase the productivity and efficiency of Taoroa Station. Ingleby also plans an extensive planting programme which includes the protection of wetlands and riparian zones,” the OIO says.

Ingleby has six farms in New Zealand over 14,461ha. It also has substantial holdings in other countries.

Meanwhile, Craigmore Farming is buying Arnmore Dairy, which owns 347ha at 486 Peak Rd, Oamaru for a confidential price.

The vendor is Parautika Farms owned by Francois and Shelley Tillard.

Craigmore intends to develop the land “to realise the full potential of the dairy farming operation.” The company recently acquired two other farms near Oamaru for its Investment funds – Windsor 428ha, and Waiareka 403ha.

The company was set up in 2008 by South Canterbury businessmen Forbes Elworthy and Mark Cox. The company manages more than $150 million of rural investments.

At 92 Three Oaks Drive, Auckland, the Xinxin Trust of China has bought 6.8ha for $3.9 million.

“Xinxin Hao intends to become ordinarily resident in New Zealand and wishes to acquire property to use as her primary residence. Xinxin Hao is the sole director and shareholder of Xinxin Trustee,” the OIO says.

Other approvals this month include Constellation Brands acquiring leasehold interest in 24ha at 127 Gifford’s Creek Lane, Rapaura, Marlborough for a price the parties will not publicly disclose. The vendors are Graham and Shirley Gifford, and Wain and Naysmith Trustees No 4.

Bathurst Resource has bought 51ha at Mount Rochfort Rd, Buller for a secret price from Cranberries NZ, owned by quango Development West Coast. The miner plans to use the land and facilities for prorogation and rearing of native plants to re-vegetate the Denniston Plateau.

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Commenter icon key: Subscriber Verified

Land ceilings: reining in land grabbers or dumbing down the debate?
GRAIN | 28 February 2013 | Against the grain
Over the last few years, governments, legislators and political elites in a number of countries have been trying to calm anger and debate over land grabbing by setting legal limits on foreign direct investment (FDI) in land. These limits take various forms. ...
New Zealand – large deals subject to review:
Any farmland purchase bigger that five hectares or worth more than NZ$ 100,000 (US$ 84,000) by a foreign investor must get clearance from the Overseas Investment Office. To get clearance, overseas investors have to meet various criteria, such as demonstrating relevant experience, good character and the value of the investment for New Zealand. This is not that hard to do, and approximately 10 percent of the country's farmland has already been sold off. With the recent rise in agribusiness investor interest from China and Gulf states in particular, there has been strong debate about how to control foreign investment in domestic farmland.
http://www.grain.org/article/entries/4655-land-ceilings-reining-in-land-... .

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