GM of PGG Wrightson Real Estate, Peter Newbold. Photo / Supplied
GM of PGG Wrightson Real Estate, Peter Newbold. Photo / Supplied
Content brought to you by PGG Wrightson Real Estate Ltd
The recent sale of Manawaimai Station is a sign of the times and not something to be concerned with, said PGG Wrightson Real Estate.
The sheep and beef property, which once had 13,500 stock units, will be completely destocked andplanted into mānuka.
The Country's Jamie Mackay asked PGG Wrightson Real Estate's General Manager, Peter Newbold if he thought the sale represented a worrying trend in the rural property market.
"I don't think we should be concerned with that," said Newbold, "change takes place all the time. I think we'll see more of it."
However, Newbold recognised that such drastic changes are not always effective.
"As long as we don't do what we've done in the past where suddenly you go back 30 years and everyone's got on to kiwi[fruit] or everyone's got into viticulture."
However, in the case of Manawaimai Station, Newbold saw no issues.
