Sizeable dairy conversion farm goes up for receivership sale

A large dairy farm that has gone into receivership just three years after undergoing a substantial conversion is on the market for sale by tender.

The 210 hectare farm near Marton in the Rangitikei was previously three units that were purchased separately and amalgamated in 2005 and 2008 - with the ultimate intention of creating a large-scale dairy operation.

Due to a number of issues, production targets have not been achieved, however with planned adjustments, the full potential is waiting to be unleashed. The farm is now being marketed for sale by Bayleys through a tender campaign closing on December 7, 2011.

Bayleys rural salesman Dean File said: “Significant expenditure has been undertaken in the construction of a new cowshed and associated infrastructure, feed pads, silage bunkers, effluent pond and pumping system, fences, races, stock water and re-grassing.”

Mr File and fellow salesman Geoff White report the farm’s developers had originally planned on running up to 850 cows. The property is currently operating a split calving system with 550 cows calving in the spring, and 200 cows in the autumn calving herd.

“The farm has not reached its full potential, however, the opportunity now exists for a new owner to benefit from the significant investment undertaken by the current owners,” Mr File said.

The farm is subdivided into 50 main paddocks by a mix of conventional post wire and batten, and two-wire electric fencing and is accessed by metalled stock races. Stock water is predominantly drawn from an on-farm source and reticulated throughout the property.

The 200 hectare milking platform is described as flat to easy-undulating with the fertile soils predominantly Kiwitea silt loam. This is an extremely versatile soil type suitable for intensive grazing, cereal cropping, potatoes, root and green fodder cropping.

The main cowshed is a three-year-old Foxpac 60-bale rotary building with circular yard, while the farm contains a trio of three-bedroom dwellings. Additional infrastructure includes a 450 cow feed-pad, silage and palm kernel bunkers, a large calf shed, two haysheds, and a disused cowshed.

Mr White said the farm was capable of higher output, which would potentially allow the business to reach its original budgeted output.

He said significant areas of the farm had been re-grassed in recent years and were now ready to boost production.

“Everything is in place and just needs some tweaking. Properties of this scale rarely come to the market within this district, and now present a great opportunity to invest in the buoyant dairy industry in the Rangitikei,” Mr White said.

This property is centrally located some 42 kilometers from Wanganui, and 54 kilometers from Palmerston North. Marton town centre is nine kilometers away and has amenities including rural service stores and schooling.

Neighbouring blocks include a mix of dairy farms, cash cropping, and livestock finishing units.