Trevor Farmer’s latest takeover bid will not fly under the radar after the Waikato Regional Council deemed plans to convert 1300ha of a property from cropping and forestry to dairying were likely to cause adverse effects to the environment.
Wairakei Pastoral, 25% owned by Farmer’s Tappenden Holdings, owns a nearly 26,000ha agriculture property 10km north-east of Taupo. The company hoped for a non-notified consent from an application in which it described effects from the conversion as "less than minor". However, the council disagreed and it will now go out to public consultation.
Farmer made his millions alongside fellow NBR Rich Lister Alan Gibbs with a history that included a successful $114 million takeover bid for the publicly listed transport and security company Freightways Ltd. In 1990 Gibbs and Farmer invested in and worked with Craig Heatley to develop Sky TV, New Zealand's first pay-tv company.
Now he is in his 80s, his son, Dean, represents the family interests on the boards of investment vehicles including Viaduct Harbour Holdings, Tramco and Tappenden, whose major assets include Wairakei Pastoral and a $1 billion land bank in Auckland's Viaduct Harbour.
The company’s latest project is building One Market Square, at the junction of the CBD core and the Viaduct Harbour. The building will comprise of 1288sq m of prime waterfront land, with unobstructed views of the Waitemata Harbour and due for completion in 2020.
Keen supporters of the arts, Trevor and Jan Farmer are long-time residents on Auckland's plush Paritai Drive and, along with fellow Rich Lister Sir Christopher Mace, they share in the ownership of the 180ha Paroa Bay Station overlooking the sea near Russell.
2018: $700 million