NZX-listed NZ Rural Land Co has bought its first dairy farm. Photo / SuppliedNewly-listed New Zealand Rural Land Co (NZL) has bought its first farm - a 456ha dairy farm in Mokoreta, Southland, for $10.37 million. NZL said the agreement remains conditional on a successful test of an effluent pond on the farm. Read MoreUS property gurus reveal 10% stake in NZ Rural Land Co - NZ HeraldNZ Rural Land Company pushes out NZX listing day to Monday - NZ HeraldNZ Rural Land Co lists on NZX at small premium - NZ HeraldRural landlord NZRLC aims to raise $150m, sets sights on December listing - NZ HeraldThe company has agreed the terms of a lease for the farm with Invercargill-based dairy company Fortuna Group - which will start from settlement. "NZL continues to work on several larger-scale acquisitions of dairy farms in the South Island and expects to complete those negotiations in the ensuing weeks with earlier settlement dates than traditional dairy farm settlements (June 1)."

Source: New Zealand Herald March 16, 2021 03:56 UTC