5 Aug 2014

Peters says another big farm sold

5:48 pm on 5 August 2014

New Zealand First leader Winston Peters says foreign investors are buying another large farm in the North Island.

New Zealand First leader Winston Peters.

New Zealand First leader Winston Peters. Photo: RNZ

Mr Peters said on Tuesday that Wheturau Station, near Gisborne, has been sold to overseas interests for $5.5 million.

The 1037-hectare farm is being marketed as a breeding and finishing station or large-scale dairy grazing unit.

Bayley's Real Estate has confirmed that a sale and purchase agreement for Wheturau Station had been reached with a foreign buyer.

The agreement is subject to regulatory approval. It is understood the buyer owns other farmland in the Gisborne area.

Last week, the Conservative Party revealed that Chinese group Shanghai Pengxin has signed a purchase agreement for the 13,800-hectare Lochinver sheep and cattle station near Taupo. It plans to convert part of the property to dairy farming.