Newspaper Article 1980 – $1.5m is paid for Central HB farm

$1.5m is paid for Central HB farm

Mangatarata Station – one of the oldest sheep runs in Hawke’s Bay – sold for $1.5-million at auction yesterday afternoon.

In a three-way battle, Waipukurau solicitor Mr Hugh Davidson finally secured the property for an undisclosed Central Hawke’s Bay farming family.

It is expected the name of the family will be released in the next two days.

The stock was not included in the purchase.

The sale of the historic 1021 hectare (2524-acre) station, 7km from Waipukurau, created a great deal of interest in the district.

Yesterday afternoon between 250 and 300 people packed into Waipukurau’s Memorial Hall to see the auction. The auctioneers, the Hawke’s Bay Farmers’ Co-operative, said it was a rare opportunity to buy such a property.

Bidding opened at $450 an acre, rising quickly in $10 and $20 bids to the buyer’s price of $605 an acre.

Speculation before the sale put a price of $2-million on the station. Auctioneer Mr John McKinnon said the purchase price was very satisfactory.

The station was owned by 18 partners, the majority being descendants of James Macdonald who first leased 5000 acres of the station in 1908.

The station was originally established in 1851 by Mr Donald Gollan and was only the second run in Hawke’s Bay at that time.

By 1853 the station covered 17,000 acres and five years later covered 30,000 acres, but in 1908 22,000 acres were sold.

The new owner of the station also bought the six-bedroom homestead, three other three-bedroom houses, a five-bedroom shearers’ quarters and a six-stand woolshed.

Government valuation 2 ½ years ago was $640,000 with estimated livestock at June this year being 6200 breeding ewes, 2400 ewe hoggets, 80 rams, 350 breeding cows, 292 two-year cattle, 316 calves and 11 bulls.

The land varies from heavy flats, easy to medium hills, running up to steeper hills.