A large central North Island sheep and beef station developed by one of the area’s farming and racing identities is for sale.
Speculation in farming circles is that the 4,839ha property could fetch more than $25 million.
The late James (Jim) Bull, who was known as the Potato King, bought Mangaohane at auction on December 14, 1973.
It was one of four farms owned by Bull, who started growing potatoes on 14ha of leased land.
Over 20 years he grew the potato empire to be the biggest in Australasia, with a factory at Rata in Rangitikei. In 1984 he sold the business to Wattie’s to concentrate on the farms.
The Rangitikei town of Bulls was named after his grandfather, also James Bull.
Bull was heavily involved with Massey University and is recorded as the first businessman to fund a research project there. It was on how to process potatoes efficiently into chips.
In 1995 his distinguished service to farming and agribusiness was recognised with an OBE in the Queen's Birthday Honours List and in 2005 Massey made him an honorary doctor of science.
Bull was also active in horse racing and at one time was chairman of the Racing Conference.
Bayleys Taihape agent Pete Stratton said Mangaohane was one of the most highly valued sheep and beef farms in New Zealand.
“Mangaohane is an iconic North Island station and boasts many superb features, which make it one of NZ's best-known and highly regarded sheep and cattle properties.”
Mangaohane is just off Taihape-Napier Rd and is nestled between pristine Rangitikei River, renowned for trophy brown trout and white-water rafting, and Ruahine Forest Park.
The district boasts many other well-known properties, including Kaiangaroa and Pukeokahu stations, while Mangaohane bounds Otupae Station and Kelly Block to the north and Erewhon and Makokomiko stations over Rangitikei River.
Further afield lie Springvale, Ngamatea, and Timahunga stations.
Mangaohane was a large sheep and cattle breeding and finishing unit, wintering on average more than 44,000 sheep and cattle stock units, which placed it among the top echelon of productive primary land in NZ, Stratton said.
“Mangaohane is an iconic North Island station and boasts many superb features, which make it one of NZ's best-known and highly regarded sheep and cattle properties,” he said.
“The size and location, balance of contour, free-draining soils, fertiliser history, quality of pasture, carrying capacity, top-quality fencing, excellent subdivision, superior access, and the gravity-fed Erewhon Water Scheme, along with all the exciting recreational benefits, present an outstanding investment opportunity.
“It was purchased by the late Jim Bull at auction on 14 December, 1973, and has remained in the Bull family for the last 40 years.
“During that time the property has been transformed, with 1,500ha of scrub cleared and a further 1,200ha of tussock developed into top-quality, high-producing pasture.”
Extensive capital has been put into improving soil fertility and pasture species, with about 2,600ha sown in new grass in the past decade, Stratton said.
In the same time more than 100km of new fencing has been erected and 40km has been reconstructed to form 140 main paddocks, with an average size of 30ha.
The farm has about 1,100ha of flat to easy-rolling contour, 2,650ha of medium hill country, and 590ha of river faces and steep country. It also has 132ha of forestry.
Mangaohane Station is being sold by tender, which closes on March 13.