Carter Holt Harvey is selling off vast areas of former forestry land it has converted into 29 dairy farms.
The Waikato dairy properties, which are part of a large-scale sell-off by the forestry company, range from $5.1 million to $10.4 million.
After harvesting the final crop of trees from the plantations, Carter Holt Harvey began converting the land near Tokoroa for dairy production in 2008.
Environmental group Greenpeace says the land in question will struggle to comply with clean water regulations.
Its climate campaigner Simon Boxer says such intensive dairy farming will require high nitrogen inputs.
But the real estate agency selling the land says particular care has been taken in designing the farms to ensure they comply with environmental regulations and nutrient controls.
Mike Fraser-Jones of Bayleys Real Estate says the forestry company is selling the farms as part of a plan to get rid of assets that are outside its core business.
He does not think there will be a nationwide trend toward large-scale sell-offs because a single company does not usually own such a large number of farms.
Mr Fraser-Jones says one farm has sold since the properties went on the market before Christmas.
