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Blue chip East Coast station placed on the market for sale

The rare opportunity to purchase an iconic, high-performing East Coast station is drawing strong interest from farmers and investors throughout New Zealand.

Mangaheia Station near Tolaga Bay is on the market for the first time in many years, offering a unique opportunity for buyers to tap into on-going strong returns anticipated from the red meat market in a prime winter growing location.

Simon Bousfield, Bayleys Gisborne agent says Mangaheia’s uniqueness is due as much to its scale as to the strong level of investment the property has enjoyed in recent years.

The 2700ha (2400ha effective) property has had significant funds invested in new eight wire conventional post and batten fencing, extensive concreted cattle and sheep yards, and a five kilometre all-weather access road to its 11 stand woolshed, yards and staff quarters.

In addition the property has enjoyed annual re-grassing over its 200ha-plus cultivatable country, re-sowing 60-80ha a year in high yielding perennial grasses to optimise summer growth in the dry period while still finishing lambs. Winter feed supplies are boosted by 70ha a year cropped into kale, swedes and winter rape for cattle wintering.

“The development investment and attention to pasture quality means Mangaheia is in optimal condition to deliver returns without requiring significant amounts of additional capital being required by new owners to meet its potential,” says Bousfield.

The property sets a benchmark for the district, falling into the top 10 percent of properties in terms of funds re-invested back into it for animal health.

There is a good balance of flat, medium and steeper country on Mangaheia extending from 20 metres above sea level through to a moderate 400m, with well over 200ha of the country cultivatable. Water is sourced naturally and available throughout the station.

Mangaheia’s ability to grow grass well through winter right up to its higher 400m country means it offers flexibility around stock class and market options. Good fertility levels have been enhanced by regular superphosphate dressings, while the station’s silt loam flats ensure a good level of natural fertility.

At present the property’s 22,600 stock units comprise a 60:40 sheep to cattle mix, and this year enjoyed an exceptional lambing percentage of 170 percent to ewes wintered.

A commercial breeding cow operation comprises 800 head of cows, with sires sourced from reputable East Coast studs Rangatira and Kaharau. The station’s improvements include a main manager’s house, general shepherd’s home, shepherds’ quarters and a cook’s house.

The property comprises of seven titles, adding to its appeal as a purchase option for neighbouring farmers wanting to expand their existing farm, or for farmers in the region seeking a winter safe grazing block option up the coast.

Located only 45 minutes from Gisborne city Mangaheia offers a typical East Coast station lifestyle located only minutes from well-known Tolaga Bay, while still being a comfortable distance to town.

That lifestyle can include hunting opportunities in the district’s back country which has been renowned for delivering trophy stags to Managaheia’s staff in the past.

The station’s place in the local community has also been cemented over the years by hosting the popular annual Tolaga Bay dog trials, drawing shepherds and farmers from all ends of the East Coast region.

The station’s scale puts it well above the district average for size, leaving buyers to achieve some scale and flexibility to the operation, enhanced by Mangaheia’s good autumn-winter growth phase.

“The station has an extremely capable team of staff on farm led by an experienced manager, paired with the investment back into the farm means it is a very well run and profitable operation, with all infrastructure of a very high standard,” says Simon Bousfield.

The property is for sale by private tender and closes on May 14.

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