Tuesday, February 27, 2024

Record price for high country station

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Halfway Bay Station on Lake Wakatipu sold to investors
An aerial photo of Halfway Bay, Lake Wakatipu, taken two years ago by Queenstown photographer Jackie Gay of Still Vision.
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This article was one of Farmers Weekly’s most read in 2022.

Halfway Bay Station on Lake Wakatipu has been sold to New Zealand investors under the name Medeor Ltd, a subsidiary of New Zealand Regeneration Investment Group.

Managing director Austin Mortimer said the 18,000ha property will continue to be grazed and regenerative farming practices will be introduced.

A local station manager and shepherd will be employed.

After a lengthy tender process, Halfway Bay was sold by New Zealand businessman Chris Ellison and Australian Tim Roberts for an undisclosed price that is believed to be a NZ record over $30 million.

Along with Hawke’s Bay resident Mortimer, who was a former chief executive of Rockit Apple, Auckland-based Zhengzhong Liang is listed as a director of NZ Regeneration Investment.

Halfway Bay station is accessible only by boat or air and runs on its own hydro generation.

It is predominantly Crown leasehold with 180ha of freehold alongside the Lochy river, reputed to be one of the best fly-fishing waters in the world.

The property includes a homestead, farm manager’s house, staff accommodation, a woolshed, various implement sheds, a marina and jetty, workshop and remote shepherd huts.

The station adjoins the better-known Wakatipu high country properties Walter Peak and Cecil Peak.

When listed by NZ Sotheby’s International Realty earlier in the year, the station was described as having 7km of lake frontage, mountains, rivers, valleys and a largely untouched ecosystem.

Mortimer said in a statement the new owners will preserve the ecosystem for future generations.

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