NZ green kiwifruit orchard sells for record price

A green kiwifruit orchard has fetched what is believed to be a record price of $500,000 per canopy hectare.

The unpruned and untied 3.6 canopy hectare orchard at 104 Casuarina Drive in Te Puke, New Zealand sold at auction for $1.8 million after a three-way bidding war on Wednesday.

The 5.7ha block of land came with a load out area and sprayfill tank, no house, and had achieved an average production over five years of 41,000 trays.

The buyers were three-shareholder equity partnership, Waterview Downs Orchards Ltd. Partners Debbie and Grant Oakley said they owned a gold G3 kiwifruit orchard on the same road.

Mrs Oakley said their motivation for buying land was simple: "location, location, location".

"We've paid a premium because we've bought a neighbouring block, which will make it easier for us to manage."

"It's also prime kiwifruit growing land."

Mrs Oakley said they had enough G3 licence to begin converting the green orchard to gold immediately upon taking ownership, grafting on to the old plants.

source: nzherald.co.nz

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