13 Nov 2013

Dairy farm fetches record price: $6.7m

2:27 pm on 13 November 2013

PGG Wrightson says a new record sale price has been set for a dairy farm in North Canterbury.

A 129-hectare dairy farm sold for $6.7 million last week - that's more than $52,000 a hectare.

The Gairloch farm, which is fully irrigated, runs 450 cows and PGG Wrightson says production peaked at 188,000 kilograms of milk solids last season.

The company says a local farming family bought the property.