Monday, 02 March 2020 12:04

Austrian billionaire to convert farm to forestry 

Written by  Staff Reporters
The sale is Leitner's second granted under the special forestry test.  The sale is Leitner's second granted under the special forestry test. 

An Austrian billionaire has been granted consent to purchase an $8m Hill Country farm.

The Overseas Investment Office (OIO) has granted Wolfgang Leitner consent to buy a 800ha property located in Kotemaori, Wairoa and convert it to forestry. 

The property known as Ponui Station currently has 714ha being grazed by sheep and beef stock. 

Leitner plans to plant a further 640ha of commercial forest.

Ponui Station currently has just 14ha of existing commercial forestry.

The remainder of the land includes 33ha of native bush and 113ha of unplantable land containing boundary and riparian setbacks, ponds and infrastructure.

The Bayleys’ real estate listing of the farm describe it as “clean, healthy country, sought after scale, and opportunity to extend farm capability.”

This isn’t Leitner’s first farm purchase in New Zealand, having been granted consent to buy the $4.5m, 489ha Ngapuke Station in Gisborne in September. 

Leitner’s earlier purchase was also granted under the special forestry test. 

More like this

Country’s backbone performs

New Zealand's primary sector has added steel to the country’s economy in the wake of the Covid-19 pandemic, according to a recently released report.

Featured

 

Fonterra back in the black

Fonterra chief executive Miles Hurrell says 2019/20 was a good year for the co-op, with profit up, debt down and a strong milk price.

Strategy to reduce heifer mastitis

First calvers are more prone to mastitis than older cows. According to DairyNZ, farmers must choose a strategy that best suits their herd, farm team, and budget.

National

Helping grow farming’s future

John Jackson’s ability for future and critical thinking saw him deeply involved in the development of an agribusiness programme that…

Nothing sustainable without profit

Chair of Dairy Environment Leaders programme Melissa Slattery believes that sustainable farming is highly important to young farmers.

Machinery & Products

JD updates header line-up

John Deere has updated its entire header line-up for combines to include the new HDR Rigid Cutterbar Drapers, RDF HydraFlex…

Hybrid harvesters launched

New Holland has entered the world of hybrid headers, launching a new machine that blends its conventional threshing drum and…

» Latest Print Issues Online

The Hound

Burn!

OPINION: This old mutt had to have a giggle at the dig Feds recently made at the Green Party in the…

Why?

OPINION: Your canine crusader was aghast to read that the prices of zucchini and cucumbers rose more than 30% in…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter