Govt company sells up 28 plots of land

A government-owned company is selling off 28 plots in Northland in a major land sale.

The subdivided farmland sites are part of a 97 ha property owned by Landcorp Estates Ltd at Haruru Falls in the Bay of Islands.

The sites at Wakelins Riverfront Estates are being marketed by Bayleys, and representatives believed the subdivision sale was the biggest in Northland.

Landcorp Estates, a subsidiary of Landcorp Farming, was the "highly motivated" vendor behind the sale, said Bayleys' agent Chester Rendell.

"The company has taken this development as far as it wants to, and simply wants to execute a quick exit strategy," he said.

Mr Rendell expected the sites to to attract interest predominantly from people looking for a semi-rural lifestyle.

Native bush within the conservation areas could not be cut down without council consent, and dwelling must also be designed in harmony with the natural landscape and using natural materials such as timber, stone or brick.

Reserve levels have not yet been set for the auctions, but Landcorp representatives had made it clear pricing levels would be competitive, he said."