New Zealand Rural Land Co buys North Island forestry for $63m

New Zealand Rural Land Co's chair Rob Campbell. (Image: NZ Rural Land Co)

Fri, 21 Oct 2022

New Zealand Rural Land Co has entered into a $63 million deal to purchase forestry land in the central North Island.The listed rural landlord said it would buy 2,400 hectares across five properties in the Manawatū and Whanganui regions.The properties will be leased to New Zealand Forest Leasing for 20 years, with a first-year payment of almost $5m under the terms of the leasing agreement. The lease also has annual consumer price index-linked rental adjustments, as is the case with NZ Rural Land's other leases.As well as that, there wa...

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