Located at Sherwood, 20km north of Fairlie, the 587ha farm attracted interest from wider Canterbury and North Otago before eventually selling locally.
The property’s low-cost structure was attractive to would-be buyers, PGG Wrightson real estate agent Ward Humphrey said.
“Most of the milking platform was converted five years ago and the farm has a well-maintained 44-a-side herringbone dairy.
“Dryland dairy properties do not come onto the market often, although $22,000/ha land and buildings was a satisfactory price at the upper end of the vendor’s expectations, which indicates that, in spite of recent milk payout forecasts, appetite for investment in the dairy sector remains strong,” Humphrey said.
