Expressway Orchard Limited Partnership is the third kiwifruit orchard syndicate to be established by MyFarm in the past two years, with the first two being Green orchards.
Chief executive Andrew Watters said it had taken two years to secure a quality Gold kiwifruit orchard with the key attributes investors were looking for.
"It is a very competitive market for quality orchards with established Gold vines," he said.
"We're thrilled to find a property that is established, but also has a development component that will add value for investors."
The orchard, which is adjacent to the Te Puke golf course, is made up of 9.83 cha already planted in Gold; and 2.9 cha of Hayward Green and 3.3 cha of G14 Green, which will be replanted in Gold over the next five years. Paengaroa is regarded as a prime kiwifruit growing area, favoured for its climate, low altitude, flat contour and free-draining soils.
Mr Watters said the planned conversion to Gold fruit would add a nice "twist" for investors. The partnership is forecasting an 11.3 per cent development margin. He added that investors were hungry for access to the kiwifruit sector, and praised Zespri's careful management of export supply and kiwifruit variety licences.
"The accelerating export demand for kiwifruit, with the Gold variety leading the charge, is testament to the investment the industry has made in research and development."
Mr Watters said MyFarm had experienced strong interest in the Expressway Orchard investment opportunity since launching it earlier this week.
"Investors want access to the growth of the kiwifruit sector and to the Bay of Plenty region," he said.
MyFarm
-Is a specialist syndication business focused on land-based investment opportunities in the dairy, sheep and beef, kiwifruit and viticulture sectors.
-It has more than $500 million of rural assets under management.
