Iconic Northland Farm Disappears Into Foreign Hands
The sale just approved by the Overseas Investment Office of an iconic farm at Kaiwaka in Northland sees more valuable land disappear into foreign ownership, says New Zealand First Leader and Northland Member of Parliament, Rt Hon Winston Peters.
“The property covering 246.55 hectares at 136 Ranganui Rd, Kaiwaka, was owned by a Kiwi family for over 100 years and has been bought by Singapore buyers for $5.7 million.
“It was promoted to ‘developers, investors and land bankers’.
“The farmland was advertised as being only an hour’s drive from Auckland; having 3km of harbour frontage; panoramic vistas and as being ideal for subdivision.
“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?
“New Zealand First’s preference is for New Zealanders to farm and look after the land for generations to come,” says Mr Peters.