Comparatively cheap land prices are combining with industry incentives to turn Gisborne into the ‘new frontier' for kiwifruit investment. This was recognised by yet another investment group that has bought up land.
Just weeks after Original Capital Partners announced they had bought three Gisborne properties to grow SunGold kiwifruit, Feilding-based specialist land based syndicator My Farm this week launched an offer to invest in Te Arai Gold LP. The latter is a 20-canopy hectare SunGold kiwifruit orchard. They received applications for over $2 mln of the $13.4 mln capital required on the first day.
Head of Sales, Grant Payton: “MyFarm is offering investors the opportunity to invest in Te Arai Gold Limited Partnership. This is a 28-hectare bare block which will be developed into an estimated 20 cha SunGold Orchard on Waingake Road, 20 km west of Gisborne. The Gisborne area is gaining a reputation for its ability to produce high yielding early maturing SunGold crops. On this site, we believe we can create a highly productive orchard producing 16,000 trays of early start kiwifruit.”
According to gisborneherald.co.nz¸ Payton said the Te Arai development would be carried out by MyFarm business partners, Apata, an orchard management and post-harvest operator with packhouse and cool store facilities in the Bay of Plenty.
