The demise of New Zealand’s once thriving goat industry has forced the owners of a once prestigious Northland goat farm valued at $20 million at one time to carve it up and sell it off in large chunks.
Pioneering Northland goat farmers Barry and Judy Foote have been unable to sell their once lucrative farming business on 370 hectares with thousands of goats after Covid turned the industry upside down, and so have been selling off the land in lifestyle and grazing blocks.
The last two large 80ha-plus lifestyle blocks on Peach Orchard Road and Russell Road, in Whakapara near Helena Bay, have just hit the market for sale.
The Footes told OneRoof it was “heartbreaking” to see the industry they had been involved in for 45 years collapse and farmers like themselves having to close or sell up.
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“It’s really been absolutely heartbreaking,” Barry said. “To see it this bad is just colossal really.”
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The couple were set to retire in 2020 and had been expecting to get around $20m-plus for the shares, goats and the farm. The tender for the property had been due to close the week after the country went into lockdown.
Judy added: “We had a lot of interest, but as soon as Covid hit everyone just backed off and, of course, during Covid sales didn’t go through with milk powder and then the co-op just went into a tailspin.”
But it didn’t end there. The once thriving industry was then turned upside down as the New Zealand’s main customer, China, stopped buying it. The overseas demand for goat milk dropped significantly and the couple joined many others facing low milk payouts and reduced milk volumes.
“We had 170,000 shares which were valued at up to $60 a share, but were only $11 when we sold them. If we didn’t, there was a chance the co-op might want money back from us if it got any worse.”
They started selling off chunks of their land several years ago to help them keep afloat and these have proven popular with people wanting to escape the rat race or own a lifestyle block. One owner appeared to be planning an eco-retreat and had a banana plantation on a part of the land.
Four years after they had first planned to retire, the couple decided they couldn’t wait any longer for the market to pick up.
“Obviously at our age we’ve got to move on. We can’t just sit here waiting for it to come right,” Barry said.
The goat farm was valued at $20m prior to Covid but is now being carved up and sold as lifestyle or grazing blocks. Photo / Supplied
Barry and Judy Foote: “Obviously at our age we’ve got to move on." Photo / Supplied
“That was our ideal time to go (2020) we’ve both decided we are out of here you know, we were at a good age where we could enjoy life, build a bach at the beach – a whole lot of things. But it all got completely tipped on its head.”
While it had been a tough few years for the couple, they said they were lucky the farm was made up of a lot of titles and on some of the most fertile land in New Zealand close to beautiful beaches and could be repurposed.
“When we moved to this in 1979 there would have been about four dairy cow farmers along that road and now we are down to one. I’ve said this for years Northland is just going to come a big bay area for Auckland really,” Barry said.
“It has been [stressful], but I think we’ve got over that a bit and we are on the other side.”
The first 81ha block with 40ha grazing land was sold in March last year for $1.22m to an Auckland couple wanting to semi-retire in the picturesque area.
The next and likely last two properties attached to the Whakapara farm are now for sale and include a 84.0192ha section with 50ha of grazing in 13 fenced paddocks, native bush and clear water streams on Russell Road. The second property is a 86ha block on three titles at 21 Peach Orchard Road with a three-bedroom farmhouse, a massive goat shed and a 30ha of grazing including 17ha of river flats.
Natural streams run through the properties. Photo / Supplied
Once the last two sections and some waterfront land on 130 Whangaruru Wharf Road, which has been in Barry’s family for more than 100 years have sold, the couple will only have their homestead and goat sheds left which they plan to keep at this stage.
Ray White salesperson agent Alex Smits, who is selling the two 80ha-plus sections, said the only way for the couple to get some of their money back was to repurpose it and tap into the growing demand for large quality lifestyle and grazing blocks.
“There’s two markets for these properties – one is a farm support block and the other is a super-sized lifestyle block. The attraction of these block is the geographical nature of it, it’s stunning land, super private, big elevated views, but it’s also very productive grazing but it’s not economic to run as a full standalone farm.”
Smits said it was an amazing location with a stunning private natural setting, crystal clear water, productive grazing and beautiful bush and could attract retiring farmers, people looking to build their dream escape, or those wanting to get into eco-tourism.
He said the area, which was 22kms from Whangarei and 11km to Helena Bay, was a stunning piece of New Zealand that is “a little less explored”.
“I always say that everyone in Northland has their own beach and it’s kind of like you do because it’s not so populated. There’s so many little nooks and crannies and coves to explore around there with stunning white sandy sheltered beaches.”
The farm was also near Russian billionaire Alexander Abramov’s exclusive tourist lodge which at $50m-plus is the country’s most expensive domestic development. The lodge includes guest villas, a gym, sauna, massage room, a 25-metre heated swimming pool, and library situated on 800 acres of farmland and native forest.
- 0 Russell Road and 21 Peach Orchard Road, in Whakapara, are being sold by tender closing 12 December
