Harvard University to buy Otago farmland


Radio New Zealand | 7 October 2010

Federated Farmers is welcoming the purchase of a big slice of farmland in central Otago by Harvard University for $34.1 million.

Approval has been given by the Overseas Investment Office for Harvard to purchase more than 1600 hectares of the Big Sky Dairy Farms in the Maniototo district.

Big Sky Dairy Farms was set up as a dairy farm conversion in 2001, but the company went into receivership in 2007, though it continued its operations.

Last month, the Overseas Investment Office granted Harvard the right to buy the farm from three vendors.

Receiver Murray Frost says the sale includes all livestock, rotary sheds, several houses; 22 employees there are expected to keep their jobs.

Federated Farmers president Don Nicolson backs the sale because it will bring in foreign capital.

However, Green Party co-leader Russel Norman, is it.

Original source: Radio New Zealand

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