Dairy magnate to sell farms

Four farms near Oamaru owned by one of New Zealand's larger dairy farming companies, Borst Holdings, is for sale. Photo / Incholme farm

A package of four North Otago dairy farms, which last season produced about $8.5 million of milk, is up for sale.

The portfolio encompasses four stand-alone dairy farms - Pleasant Creek, Kauroo Flats, Kinloch and Incholme - about 15km southwest of Oamaru, owned by Oamaru-based Borst Holdings Ltd, which is 100%-owned by Robert Borst.

Together, the 992ha produced 1.41 million kilograms of milk solids last season from a herd of 3380 cows.

"This collection's one of the largest private dairy-farming portfolios to have come on to the market since the Crafar and McVitty portfolios some seven years ago," Bayleys salesman Kurt Snook said.

The farms could be bought individually or together, with offers open until December 15, he said.

Mr Snook described all the farms as well-maintained, with substantial infrastructure, including calf-rearing sheds and shelters, lock-up barns, effluent pump sheds and cattle yards. All the farms had highly developed cattle races to their milking sheds.

"These are highly productive units. All grow fodder beet enabling wintering for at least 80% of cows on the farms," Mr Snook said.

Kauroo Flats, Incholme and Pleasant Creek have supply contracts with Fonterra and associated shareholdings, while Kinloch supplies Oceania Dairy.

Three of the farms are next to each other, allowing for operational cost-efficiencies, while the fourth was a 30-minute drive away.

All the properties are well-irrigated, either pumping water from springs or with permits to draw water from the Kakanui River and its tributaries, or the Otekaieke River.

Farms for sale:

* Pleasant Creek - 321ha, 42 paddocks, 980 cows, five dwellings.

* Kauroo Flats - 225.4ha, 32 paddocks, 980 cows, automated 70-bail rotary shed, three dwellings.

* Kinloch - 247ha, 34 paddocks, consented to milk 700 cows, 54-bail rotary shed built last year, three dwellings.

* Incholme - 197.4ha, 29 paddocks, 720 cows, 46-a-side herringbone shed, three dwellings.