Glenbrook market garden property, held in the same family for 63 years, sold in July for $6.5 million.
Adrian van Mil of PGG Wrightson Real Estate, Pukekohe, who sold the 62 hectare property on behalf of Howard and Margaret Maxwell, says there was plenty of interest in the sale.
“This is a substantial holding fully set up for market gardening, with extensive sheds for packing, implements and storage, and three bores on the property, plus three dwellings. Cropping land value is tied to water rights, and because obtaining a new water right is a considerable challenge, this land’s highest and best use is as a market garden.
“Finding willing buyers was therefore straightforward, though we needed to be patient while they secured the finance required to complete the transaction,” says Adrian.
Howard Maxwells’ parents Tom and Marjorie bought an initial 40 hectare block that now comprises part of the property in 1960, then secured a neighbouring 23 hectare property a few years after.
“Dad milked cows. My parents used the farm for dairy, as a piggery, and for cropping. I preferred market gardening, working for a market gardener as a young fella, then on my own account from the age of 18. Dad went to drystock. I took over after he died, eventually focusing mainly on growing onions. We leased additional land for onions as well,” says Howard.
Approximately 10 years ago the Maxwells stepped back from actively managing the property, leasing it to another family market gardening enterprise, Sundale Farms. Part of it is also used for grazing.
They brought in Adrian to market the property in 2022.
“Although it was not as straightforward as we would have liked, patience paid off and we achieved a positive outcome. The property was on the market for almost 300 days, and though we had parties motivated to buy, their capacity to borrow in the current tight financial climate meant we needed to persevere to bring an agreement to fruition.
“For anyone selling in these circumstances, you need to be patient, keep your expectations realistic, and listen to what the market is telling you,” says Adrian.
Howard and Margaret were pleased at the result, and are now moving north, having bought a house in Marsden Cove.
“We were rapt with Adrian. His communication skills are extremely professional. He kept us informed the whole time,” says Howard.
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