A 3139 hectare King Country beef and sheep farm has sold for for $32.5 million.
The property, in Waipa Valley, was one of the most substantial North Island farms to come on the market in recent years.
PGG Wrightson Real Estate agents Peter Wylie and Gary Scott believe the price to be a record.
Mr Wylie said a consortium of investors with a track record in dairy farming has purchased the farm with the intention of using it for dairy support.
"As a pastoral property, the farm has easily wintered 24,000 stock units in the past. Its peak season stocking rate is 30,000 stock units."
