18 Aug 2008

Myfarm continues dairy farm expansion

4:11 pm on 18 August 2008

A dairy farm investment company with more than 20 farms on its books is continuing its expansion in New Zealand and Australia as the dairy boom continues.

Myfarm buys and manages dairy farming properties on behalf of syndicates of investors.

Investors are mainly existing dairy farmers, though there are also sheep, beef and cropping farmers as well as other rural investors.

In its latest move, Myfarm has a conditional contract to buy a 615-hectare property in mid-Canterbury.

Director Andrew Watters says it is planning to form three syndicates for the spray-irrigated property.

Mr Watters says Myfarm is also about to take over a 500-hectare farm it has syndicated in the Australian state of Victoria. It is moving into South Australia as well, and has an eye on South America, too.