A Whakamarama kiwifruit orchard has been sold for a record $600,000 per canopy hectare.

David McLaren of PGG Wrightson Real Estate, Tauranga, sold five canopy hectare G3 gold kiwifruit orchard, for $3 million in late January.

A Waikato farmer has paid $600,000 a hectare for this Whakamarama orchard.

'This is a new benchmark for a gold kiwifruit orchard, less than 12 months after the first $500,000 sale of such a property, and only about 16 months since the price for the best gold kiwifruit orchards exceeded $400,000 per canopy hectare.

'While sometimes there is uncertainty around the value of an orchard due to different areas planted in different varieties, other improvements, and a balance of un-developed land, what was sold here was a clearly defined area of five hectares all planted in G3 kiwifruit, enabling a precise calculation of per canopy hectare value.”

A Waikato dairy farmer moving to the Bay of Plenty purchased the orchard. David says its total production this season is indicated between 65,000 and 70,000 trays.

'This is one of the top orchards to come on the market in the Bay of Plenty, showcasing the skills of the well-regarded kiwifruit industry professionals involved in its development.

'Although most planting and grafting on the block was completed in 2012, some younger vines have yet to come to full production, and in the long run it promises to achieve among the very highest possible orchard gate returns.”

David has also listed another kiwifruit orchard development that he says may set a new benchmark price.

'Located at Paengaroa in the Te Puke area, Mangorewa Orchards is well-favoured in all respects. Offered for tender in three lots, it includes plantings of 8.39 canopy hectares of Hayward green and 1.48 canopy hectares of G14.”

Transactions of the most sought after green kiwifruit orchards currently sit at around $380,000 per canopy hectare, which David says will be tested by tenders for Mangorewa Orchards.