Cana­di­ans buy next dairy farm

Central Otago Mirror - - YOUR PAPER, YOUR PLACE - GER­ARD HUTCHING

Cana­di­ans are con­tin­u­ing to buy into New Zealand dairy farm­ing, with the pur­chase of a prop­erty in the Man­iototo, Otago.

Last year a re­port by KPMG showed Cana­dian in­vestors were the big­gest for­eign in­vestors in New Zealand in 2014 with 22 per cent of to­tal in­vest­ment.

De­spite me­dia at­ten­tion over Chi­nese in­vest­ment, they ac­counted for only 14 per cent.

The sale of the 918 hectare Man­iototo farm to a Cana­dian gov­ern­ment pen­sion fund has been ap­proved by the Over­seas In­vest­ment Of­fice (OIO).

The farm was bought by Ap­ple­ton Dairy Farm Ltd, wholly owned by Canada’s Pub­lic Sec­tor Pen­sion In­vest­ment (PSP) Board.

As part of the deal, the OIO buyer had to set aside a 160 ha wet­land, part of a fea­ture called the Taieri Scroll Plain, which is a large wet­land in the Man­iototo and Styx Basins, in the up­per reaches of the Taieri River.

It is de­scribed as ‘‘the only one of its kind in New Zealand’’, by the De­part­ment of Con­ser­va­tion.

PSP is one largest pen­sion man­agers.

The sale price of the Man­iototo farm at Puke­toi Runs Road was with­held un­der the Of­fi­cial In­for­ma­tion Act. of Canada’s

in­vest­ment

‘‘De­spite me­dia at­ten­tion over Chi­nese in­vest­ment, they ac­counted for only 14 per cent.’’

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