Canadians buy next dairy farm
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
‘‘Despite media attention over Chinese investment, they accounted for only 14 per cent.’’