The sale of Rimunui Station last week is a sign the rural real estate scene in this district is rebounding, according to agents involved in the sale.
The sale of Rimunui Station last week is a sign the rural real estate scene in this district is rebounding, according to agents involved in the sale.
The $8.23 million sale of Rimunui Station at Waerenga-o-Kuri last Friday reflects a strong rebound in confidence in the rural property market here, according to Bayleys Realty.
The 647.5-hectare sheep and beef breeding unit sold at auction for a price that equates to around $12,710 per hectare.
“It’s a strongresult that reflects a rebound in confidence across the Gisborne rural property market,” said Charlotte Mee, the national country marketing manager for Bayleys Realty.
“Bidding opened at $5 million and saw competitive interest from five registered bidders.
“More than 75 people packed the auction room - mostly local farmers and rural professionals - reflecting strong regional engagement and interest in the sale.”
Rimunui Station has changed hands for more than $8 million, bought by 'a great local farming family'.
Simon Bousfield and Stephen Thomson, from Bayleys Gisborne, said Rimunui Station provided balanced contour and appealing scale for those seeking a high-performing farm.
“With 641 effective hectares, this farm excels in both productivity and quality, providing a diverse range of farming opportunities across sheep, beef and deer,” they said in promotional material prior to the auction.
“Rimunui features an excellent fertiliser history, resulting in strong Olsen P results and superior soil health, enhanced by its prime farming location known for its excellent climate and community spirit.
“It delivers above average lambing and calving rates, an excellent climate and strong springs and dams for stock water. The farm is positioned to consistently produce strong returns.
“The property has gone to a great local farming family.”
