The Crown research institute’s estimate of $100 million for new investment wasn’t a chance figure, he said.
It was using a 2012 assessment based on the cost of refurbishing the Ruakura and Invermay campus, the cost of essentially build a new campus at Lincoln, and also the cost of improving Grasslands in Palmerston North.
Onfarm, the proposed income would come initially from Wallaceville, Kaitoke and Flock House but there were several properties being looked at over the next several years to identify their fit with the new strategy, Richardson said.
The board and staff were taking a reasonably prudent approach to ear-marking these farms, he said.
“We still have some work to do to identify the other properties around New Zealand that we may be able to collaborate and use but we’re comfortable with the balance at the moment.”
AgResearch also wanted to investigate ways for primary-sector researchers to combine to make better use of their shared farm facilities.
Richardson hoped AgResearch’s farm re-modelling could foster tighter co-operation on farms run by Landcorp, Massey and Lincoln.