For the best producing, most sought after properties, in favoured locations, at the right altitude, and growing gold kiwifruit, transactions have reached the $2 million per canopy hectare threshold.
Five Te Puke kiwifruit orchards in a combination of green and gold varieties were offered for tender in early February by Stan Robb of PGG Wrightson Real Estate, Te Puke, selling as a whole to a partnership of well-established kiwifruit growers for $36.7 million, equivalent to $2 million per canopy hectare for the land planted in gold vines, comfortably exceeding the previous benchmark value of $1.8 million for a sale in December last year according to www.pggwre.co.nz
A few days later the estate agent sold another Te Puke orchard planted in 21.26 hectares of fully producing gold kiwifruit in excess of $38 million, also exceeding the previous $1.8 million benchmark, putting it among the year’s highest value rural property transactions nationwide and making it Te Puke’s highest priced rural property transaction ever.
In mid-March another two properties: of nine and 5.5 canopy hectares, both fully in gold kiwifruit, also at $2 million per canopy hectare.