Iconic Kaiwaka farm sold into foreign hands

The Overseas Investment Office has approved the sale of an iconic farm at Kaiwaka.

The property, covering nearly 250 hectares on Ranganui Rd, Kaiwaka, was owned by a Kiwi family for more than a century and has been bought by Singapore buyers for $5.7 million

New Zealand First Leader and Northland Member of Parliament, Winston Peters
says the property was promoted to ‘developers, investors and land bankers’.

“The farmland was advertised as being only an hour’s drive from Auckland with three kilometres of harbour frontage, panoramic vistas and as being ideal for subdivision,” he says.

“That suggests the future of this land being used for farming is in serious doubt and confirms again that the Overseas Investment Office is simply a rubber-stamping machine. The massive sell-off of valuable farmland to foreign buyers has got out of control under National.

“Foreign buyers snapped up 465,863 hectares in 2016, compared to 79,897 hectares sold to foreigners in 2015. Where is the gain for New Zealand?”


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