The dairy boom has helped asset values soar at New Zealand Rural Property Trust.
The revaluation of the trust's properties and other assets resulted in a gain of more than $48 million on last year, based on preliminary unaudited figures.
The net assets were valued at about $210
million as at June 30, compared with $162 million last year.
The value of the trust's rural property portfolio had increased significantly on last year.
Six dairy farms, Canterbury arable properties and other land with potential for dairy support had shown a substantial gain in value.
The net asset value per unit was expected to rise to about $4.50, compared with $3.46 at June 30 last year.
The trust planned to sell a 1145ha Waikato farm used for beef and sheep by tender closing in November.
The Business Herald understands the Puketotara Station could sell for about $20 million - more than 10 times the national median farm price in May of $1.86 million.
