Pastoral farming remains a key sector in the Hawke's Bay economy. Photo:
A rural land agent has allayed fears a significant Hawke's Bay farm will be planted in pine trees.
The Riverbank Station owned by former All Blacks captain Sam Whitelock and his wife Hannah is on the market.
The flat, rolling and steep 833 hectare sheep and beef farm at Rissington is northwest of Napier, near the rural village of Puketapu.
The sale has attracted plenty of attention with many on social media raising concerns it may be targeted as a forestry conversion for carbon credits.
Bayleys agent Tony Rasmussen said it was likely rising red meat returns will keep the property in productive farmland.
"Largely, the numbers should stack up better for sheep and beef farming with the current returns we're getting," Rasmussen said.
The government has introduced legislation to restrict farms going to forestry.
The recent Emissions Trading Scheme (ETS) amendment bill restricts large-scale conversions of high and medium rated productive farmland (Land Use Capability classes 1-6) to exotic forestry.
The ANZAC memorial at Rissington is nearby. Photo: RNZ/Sally Round
"The carbon price has been the main driver of farm conversions," Rasmussen said.
"Now effectively the party can only get 25 percent of the land area registered in the ETS and that changes the equation significantly."
Rasmussen isn't expecting an international buyer to take the Whitelocks' farm out of New Zealand hands either.
"It's received a good level of interest, not necessarily from the overseas space.
"It's highly likely it will be a New Zealand purchaser."
Enquiries have been been strong from local buyers and from outside the region.
"It's 27km from the Napier Airport with a lovely easy contour and the nice climate we have here in Hawke's Bay," Rasmussen said.
"This is truly a trophy farm that has seen significant capital investment."
Sam Whitelock taking on Argentina in 2022. Photo: PhotoSport / Matthew Hunter
Tenders close on 12 November. The farm on five titles was purchased for $8.5 million eight years ago. It has an RV of $15.3m.
The property includes three dwellings and shearers' quarters with over 40km of new fencing, steel cattle yards and new sheep yards.
It's bound by the Mangaone River which is known for its excellent trout fishing.
Whitelock who was capped in more than 150 test matches is returning to his farming roots in Manawatū.
