Forever Farming NZ has been forced to withdraw from its bid to buy Mangaohane Station, the 4800ha central North Island property for sale by international tender.
Forever Farming NZ spokesman Mike Barham says the decision followed the revelation late last week that the Information Memorandum prepared for the sale of the Station did not include full disclosure of two important issues.
It has been revealed that a claim on Mangaohane Station was lodged with the Waitangi Tribunal in late 2019 by a local Maori Trust. The same Trust also wants to register an easement to formalise passage through Mangaohane Station to land it owns at the rear of the property which is not accessible directly by road.
“To say I’m incredibly disappointed is an understatement, but we can’t proceed any further with our bid. These two developments, particularly the Waitangi Tribunal claim, add too much risk and uncertainty for a syndicate investment like we had planned and sadly, we’ll have to back away,” Barham says.
He is confident Forever Farming NZ would have raised sufficient cash to buy Mangaohane Station.
“I’ve been stunned by the level of support from people from cities and towns right across the country and from within the farming community.”
“We’ve got commitments for tens of millions of dollars from hundreds of people who believed in what we were doing. They will be gutted because they wanted to join with us in making a stand at Mangaohane to stop the slide of so much of our hill country into permanent forest for carbon.”
Barham met with members of the Trust last weekend and says they want Mangaohane Station to remain a livestock farming business.
“I wish them well and hope they achieve the same outcome we wanted for Mangaohane,” he says.
Please direct all contact to Mike Barham on 027 582 8443.