The East Coast continues to offer sheep and beef farmers opportunities to expand operations, with another high-profile property on the market.
The Murphy family, owners of Panikau Station at Whangara 48km north of Gisborne have written the next chapter in the station’s history by putting it on the market for the first time in 120 years. The property comprises 1094ha in two titles, with 750ha of effective pasture country running 6800 stock units.
Marketed by Bayleys Gisborne, Panikau has been renown in the district for its strong connections to the Tolaga Bay community, and links to several other historic and extensive properties in the district. These include the 2700ha Mangaheia Station, also being offered by Bayleys for sale.
Bayleys Gisborne rural agent James Bolton-Riley says Panikau’s sale signals the opportunity for the next generation of owners to build on the station’s well-founded potential, at a time when prospects for sheep and beef are stronger than ever.
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“Properties like Panikau are well known, but often looked at only from afar because they simply do not come up that often on the market. This is a property offering scale, contour, rainfall and potential that are increasingly difficult to find in today’s dry-stock property market,” says James.
Panikau represents a link to New Zealand’s station heritage long departed much of New Zealand. One where staff and landowning families play an integral role in the community, employing local staff and contractors and often hosting local events.
The station offers potential buyers a firm foundation to build future production from, aided with the injection of some re-development capital.
The property is largely north facing in a warm winter coastal climate location with good easy to medium contour country, and 18ha of largely undeveloped flat country. Spread between the relatively low-lying altitude of 400m down to 50m, with most of the property under 300 metres.
“Panikau has proven capable even with its relatively light inputs, consistently getting lambs to weight for store or finished by late November. After this it operates flexibly as a viable trading operation for the rest of the year, while also presently undergoing a transition period to increased cattle numbers in recent years.”
The property is running approximately 2000 Romney ewes and ewe lambs along with 1000 head of Angus-Salers cattle, with the steers sold at two to three years of age.
Overall, there could be potential to lift Panikau’s stocking rate by 1000 units over time, allowing for greater fertiliser inputs to bring the existing P levels of 12-17 higher, and possibly consider more intensive subdivision than the existing 50 paddocks.
“Panikau’s strengths also include its excellent natural supply of spring water throughout the property which provides a source to reticulate more of the property from, if desired.”
