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Rangitikei iwi Ngati Wairiki-Ngati Apa are the new owners of AgResearch’s Flock House farm near Bulls.
The 1100 hectare property, which does not include the historic Flock House itself, was used as a training farm until the late 1980s.
It has subsequently been used for science purposes, and AgResearch is retaining 88 hectares for ongoing research.
The farm is made up of a 332 hectare dairy unit and a 768 hectare sheep and beef unit.
Te Runanga o Ngati Apa chair Pahia Turia says the runanga bought it in partnership with Atihau-Whanganui Incorporation and Waitatapia Station Limited, which represents the neighbouring Dalrymple family.
He says the size of this transaction and the experience and skill needed to develop and manage high performance dairy and dry stock farms meant the iwi decided it needed investment partners who could add to the business.
Mr Turia says he looks forward to proving that a partnership of Maori and non-Maori interests can work together successfully to create value and growth for the iwi and the region.
He says Ngati Apa approached AgResearch about the deal soon after its 2011 treaty settlement.
Copyright © 2014, UMA Broadcasting Ltd
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