Sale marks return of confidence

The final nod went to the Allpress family when this attractive farm sold at auction in Whanganui late last month. Photo / Open2View

The sale of a 168-hectare farm just beyond Fordell late last month has unearthed a welcomed return of confidence to the rural marketplace.

Arawhata farm opposite the the gateway to Mangamahu at Wylie's Bridge sold under the hammer at the Bayleys office in Whanganui for $2.04 million.

Bayleys agent Pete Stratton said the attractive farm, which featured fertile flats that have been part of a milking platform for a dairy farm, was offered for sale to a room that included seven interested parties.

The hammer finally fell to injured globetrotting Whanganui jockey Lisa Allpress and husband Karl.

Co-agent Knud Bukholt said Arawhata, which is located 28km from Whanganui, was historically a sheep and beef farm before becoming part of a dairy operation and still has sheep facilities including an all-weather multi-purpose sheep and cattle complex.

At one stage it was run in conjunction with a larger sheep and beef hill country station and about 1000 older ewes were lambed, with all progeny finished. Between 120 and 130 yearling heifers were also brought there to later calve on the easier contour of the country.

A water supply to the lower areas of the farm is via a high pressure system in conjunction with a neighbouring property, with additional water drawn from an artesian bore which supplies a 25,000 litre tank.

Numerous dams are scattered across the hills, while fallow deer graze in the 11ha of native bush.

Mr Stratton said the bidding opened at $1.2m with three parties contesting strongly before being knocked down to the Allpress family for $2.04m.

He says this equates to a price of over $12,000 per hectare or just under $5000 an, which is an extremely strong result in the current market that has been dominated by uncertainty in the dairy industry.

He said there was a genuine shortage of farms available at the moment, while the amount of interest is as strong as he has seen for about 10 years.