Commercial

Top Bay farm sells for $20m

A Central Hawke's Bay farming family have sold their sheep and cattle farm for more than $20 million.

Tuesday, August 23rd 2005

The sale of the 2370-hectare Mangaorapa Station near Porangahau ends the Mouat family's 60-year, two-generation ownership.

Though no official price has been given, a Real Estate Institute spokeswoman said it was probably one of Hawke's Bay's highest.

About nine kilometres inland from the Porangahau coast, it was sold complete with 10 residential homes, farm buildings and an airstrip.

New owners the Anderson family take it over next month. They run the Inglis farm in central Hawke's Bay. Graham Anderson said they recently sold their Wairarapa farm investments to buy Mangaorapa.

Bill Mouat and brother Bryan, and their wives, Johanna and Lynn, owned Mangaorapa Station. They will keep 200ha to continue developing a vineyard at the western end.

The brothers were out of town yesterday, but Bryan Mouat said comment would be restricted to a prepared statement. In that, Bill Mouat said they had substantially increased its production in the past decade, changing to a high-performance sheep and bull beef programme.

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