By PHILIPPA STEVENSON
The Rotorua farm of former Dairy Board chairman Graham Fraser has failed to sell at auction.
Agent Frank Blewitt, of Bayleys Real Estate, said the property was passed in at just over $1.49 million but negotiations were continuing with the top bidder.
Three other parties were also keen and a
deal could be struck early this week, he said.
Mr Fraser resigned as board chairman in December when the proposed Global Dairy was announced. He was reportedly uneasy about the industry putting all its eggs in one basket.
Mr Fraser, who has been involved in dairying for 25 years, would not speak about his concerns. He was understood to still be considering his next move once the farm was sold.
Bayleys said Mr Fraser did not want the sale of his property, owned since 1982, to be seen as a negative comment on the industry, which had never been stronger.
The 140ha flat-to-medium hill property, with a 40-a-side herringbone dairy, is in the Waikite Valley, 31km south of Rotorua. It has three houses.
