‘Glencairn’ development to benefit many

The purchase of a 1400hectare known as Glencairn at Dipton, Southland by German investors will result in the creation of the equivalent of 20 full time employment opportunities for New Zealanders in the next 12 months.

The Overseas Investment Office has given the German investment fund, Aquila AgrarINVEST II approval to purchase the farm with a total capital value of $33million.

The new owners have planned substantial capital development to increase its productivity; productivity and future capital value.

Under the supervision of New Zealand’s leading dairy farm investment and management company, MyFarm the new owners plan to inject $3.825million capital to create a third dairy unit and further develop the existing dairy farms. The key areas of development include building 2 new houses; a new 60 bale rotary cowshed; upgrading effluent and irrigation.

MyFarm Director Grant Rowan says Glencairn is an exciting development project that will have direct spinoffs for many New Zealanders and New Zealand businesses.

“Following development Glencairn will employ four additional people. During the next 12 months the following development projects on farm will create 10 full time equivalent employment opportunities.”

‘Glencairn’ is the sixth dairy farm business purchased by this investment fund in the past 12 months. All of these are partnerships between German investors and New Zealanders, in many cases the managers of the farms.

“Following development these farms will employ an additional 11.75 full time staff and generate greater opportunities for the kiwis who work and invest in them to own more land in the future.”

The 2100 hectares of land in Southland that this fund has purchased represents just 1.2% of Southlands total dairy farming area of 170,000 hectares. ‘Glencairn’ represents just 0.8% of Southland’s total dairy farming area.