She paid $10,679,919.
When she bought it, the property had been developed over seven years "with the intention of operating a combined thoroughbred horse breeding facility and tree farm. The vendor has planted approximately 25,000 trees on the property, mainly chestnuts and black butt eucalyptus," the office said.
She has now returned to Europe and an Overseas Investment Office representative said if another foreigner wanted to buy the farm, they would also need state clearance because it was classified as "sensitive land" under the legislation. Consent is needed for any non-urban land of more than 5ha, although the farm also qualifies as sensitive because of its waterfront location.
"The coast is just another sensitivity. The buyer would have to outline any substantial benefit of the purchase," he said, referring to the potential buyer creating economic growth or jobs with their purchase.
Marketing for the 121ha coastal property at 98 Orere Pt Rd tells of more than 1km of ocean front overlooking the Firth of Thames towards the Coromandel Peninsula.
"Eight years ago, the present owner of Orere Point Farm spent millions on making it one of the most beautiful and practical stud farms in Auckland," agent Bayleys said. The farm has a main homestead, three houses and staff quarters as well as a stable block.
Arrowtown-based Nick Horton of Luxury Real Estate, who is also listing the farm, says it is in four separate titles, an hour south of Auckland and 35 minutes from the Karaka horse sales centre. The farm has an arena and holding paddocks, Mr Horton's advertising says and Bayleys says the farm also has more than 30km of post and rail fencing and numerous outbuildings.
Annelies McClure, OIO manager, could not comment on whether Ms Stockinger developed everything she told the office about at the time she made the application to buy because it would be necessary to retrieve the file from offsite archives.
Read the full Property Information Memorandum for this listing here:
