His­toric Cam­bridge dairy farm sets price prece­dent

Waipa Post - - The Country -

An his­toric 118ha dairy farm on the out­skirts of Cam­bridge, which has been in the same fam­ily for four gen­er­a­tions, has sold at auc­tion for $9 mil­lion.

Martin Lee of PGG Wright­son Real Es­tate, Cam­bridge listed the prop­erty for sale. He said the Novem­ber 15 auc­tion was well at­tended.

“There was plenty of in­ter­est in the room and good com­pe­ti­tion for the farm,” said Martin.

“We com­fort­ably passed the re­serve be­fore the ham­mer fell.

“As part of the farm com­prises gul­lies, and is there­fore not pro­duc­tive land, this sale equates to at least $90,000 per hectare, which is well above av­er­age for a lo­cal dairy prop­erty and sets a strong prece­dent for other lo­cal dairy farm sales this sea­son.

“In­ten­sive hor­ti­cul­ture, sand quarrying and dairy­ing were all iden­ti­fied through the mar­ket­ing cam­paign as po­ten­tial uses for this farm.

“We un­der­stand the new owner plans to take ad­van­tage of each of those facets, con­tin­u­ing with dairy­ing, util­is­ing the sand, and us­ing some of the farm to grow pro­duce, in­clud­ing ki­wifruit,” he said.

Martin sold the farm on be­half of John and Michelle Kee­ley, who have farmed it since 1986.

John’s great grand­par­ents, Giles and El­iz­a­beth Kee­ley, took pos­ses­sion of the land in 1896, and sub­se­quently broke it in, af­ter lo­cal prop­erty was sub­di­vided and bal­loted.

At the start, 123 years ago, Giles and El­iz­a­beth were milk­ing 15 cows on the farm. Four gen­er­a­tions later, John and Michelle milk 270 cows, sup­ply­ing an av­er­age of 105,000kg of milk solids per an­num.

A lo­cal busi­ness­man with in­ter­ests in hor­ti­cul­ture and farm­ing is the prop­erty’s new owner.

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