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Foreign buyer for govt-owned farm

NZ Newswire logoNZ Newswire 28/04/2017

A New Zealand government-owned farm is being sold to a foreign buyer.

A buyer from offshore has put in the most attractive bid for Jericho Farm in Southland and that is the transaction that is being pursued, Landcorp chief executive Steven Carden said on One News.

Landcorp is a state-owned enterprise which owns 140 farms around the country. It is one of New Zealand's largest farming organisations.

Mr Carden said Landcorp had sold about 80 farms in the last 30 years and only once had a foreign buyer been considered.

The sale must be approved by the Overseas Investment Office because the farm is regarded as sensitive land.

One News says the foreign buyer is from China.

Tenders closed for Jericho Farm on March 8, according to a listing on Trade Me.

The 1359ha farm is a developed paddock and tussock sheep and cattle property capable of finishing stock. It is about 20km southeast of Manapouri and 40km south of Te Anau, on the Blackmount-Redcliff Road.

There are three houses, a four-stand woolshed, cattle yards and farm office on the property.

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