Family sells farm after 158 years
A Hawke’s Bay farm which was in the same family since 1859 has been sold.
Olrig Station was sold at auction for $10.170 million by the descendants of HWPSmith, ending 158 years of continuous ownership.
The long run ended with the final rap of the auctioneer’s hammer just over a week ago.
Interest in the 848 hectare property was strong and of the six potential buyers, four were Hawke’s Bay-based.
The station was sold by Richard Paterson, who took over its management in 2001, and his sister Susan Kirkby, who are the fifth generation owners.
Paterson, who lives on the station with his partner Trudy Burgess, said the sale was a good result for the family. He said they were happy to see the station sold to a family who would live on it.
Olrig Station was bought by a family who originally come from Hawke’s Bay, but who have been living in Auckland for the past 30 years.
The family has sold their Auckland property and will move onto
We understand what an emotional decision it was to sell after 159 years in the family.
Real estate agent Paul Harper
the station in February, planning to make it their home for many years.
The new owners are understood to be Richard and Rebecca Riddell. He retired as executive principal and director at New Zealand Assets Management this year.
PGG Wrightson Real Estate agent Paul Harper said Olrig Station was a special property.
‘‘We understand what an emotional decision it was to sell after 159 years in the family.
‘‘The scale and location of the station was such that there was strong genuine interest in the sale. I was very pleased that Richard and Susan got the value that the property deserved, and the buyers are delighted to be able to call Olrig Station their new home.
‘‘So it is a great result for all involved.’’