A group of New Zealand farming and agribusiness people is bidding to buy an iconic central North Island station to stop it being planted in permanent exotic forest.
Mangaohane Station, nearly 5000ha just off the Napier-Taihape Road in central North Island, is for sale by international tender through real estate firm Bayleys.
Bids close on December 7 and its scale, location and clear, easy contour is expected to draw strong overseas interest, particularly from companies seeking to find a source of carbon credits to offset their own fossil fuel emissions.
The group, called Forever Farming NZ, plans to buy the Station by raising the estimated $45 million-plus required using a syndicated ownership structure where individuals are invited to invest a minimum of $250,000 per share.
Forever Farming NZ’s primary intentions are to keep Mangaohane Station in New Zealand hands and farming livestock on the property.
Leading the Forever Farming NZ group is Mike Barham, a successful farmer from Hawke’s Bay with a large farming and private investment portfolio.
Barham says seeing Mangaohane Station sold to an overseas person or company and planted entirely in trees would be a tragedy for New Zealand.
“We’ve seen a sharp rise in the number of grazing properties being sold and planted for carbon credits so it’s time to make a stand against it,” he says.
Forever Farming NZ has produced an Information Memorandum and Expression of Interest document for potential investors to view and consider. “Buying Mangaohane Station would mean we keep it farming livestock, and we keep the towns and businesses that surround it strong and vibrant. Farming is the backbone of the country and we need strong livestock farms to earn those export dollars to feed the nation,” he says.
