NZ Rural Land Co buys farms, launches equity raise

Staff reporters
Wed, 08 Jun 2022

NZ Rural Land Co is 'well positioned in an inflationary environment'. (Image: Getty)
NZ Rural Land Co is 'well positioned in an inflationary environment'. (Image: Getty)
Staff reporters
Wed, 08 Jun 2022
New Zealand Rural Land Co (NZL) halted trading of its stock Wednesday morning, saying it will raise $20.38 million of equity to help fund the purchase of two Southland dairy farms.It will pay $29m for the 366-hectare Greenhill Farm and 564ha Argyle Downs. Tenants are signing up to consumer price index-linked rent reviews over 10 and 11 years, respectively. At $31,183 per hectare, that compares to the median price of $37,060/ha in the three months through April, according to Real Estate Institute figures. The NZX-listed company gets it...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Bloomberg
Warren Buffett’s Berkshire Hathaway ‘buys the dip’ again
Bloomberg | Mon, 08 Aug 2022

 The “Sage of Omaha” has emerged as a net buyer of equities in the June quarter, when markets were heading south around the world.

Bloomberg
What’s in the landmark US climate and tax bill
Bloomberg | Mon, 08 Aug 2022

After an epic struggle, the US Senate has passed a landmark climate change, tax and healthcare bill that Joe Biden hopes will help the Democrats in the mid-term elections.

Property
Wellington house price decline 'worst in world'
Brent Melville | Mon, 08 Aug 2022

Wellington is taking the brunt of the New Zealand housing market's sharp decline, dragged down by rising mortgage rates and tough credit conditions.

Sponsored
Energy of the future: Why we need innovation

The Tomorrow’s Energy Today conference is looking at ways to develop a clean, affordable and reliable energy future, says Brendan Winitana, chair of the Sustainable Energy Association New Zealand (SEANZ).

Sponsored
David Kelly: 'We must learn from past mistakes'

The CEO of the Registered Master Builders Association calls for the government and the building sector to create more resilience.