State Farmer Delivers Solid Half-Year Result
State farmer Landcorp, trading as Pamu, is a forecasting a full-year net profit of around $100 million.
The first property available for expressions of interest is Mahiwi Farm, a 708 effective hectare medium rolling hill country livestock farm located 35 minutes west of Wairoa.
The equity partnership follows the 2024 introduction of Pāmu's contract farming options for dairy farmers, including sharemilking and contract milking across four farms: Quarry and Otago in the Central Plateau, Waimakariri in Canterbury, and Ruru on the West Coast.
Mahiwi is the first livestock farm being offered up by Pāmu under this model.
Mark Leslie, chief executive of Pāmu, says the partnership is more than a farm opportunity.
Leslie says it is a strategic shift in how the state farmer supports the next generation of livestock farmers.
"Mahiwi represents our commitment to unlocking equity pathways and backing high-performing operators with real skin in the game," he says.
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He says Mahiwi offers a strong balance of breeding and finishing country and has scope for improved performance.
"This model is about empowering skilled operators to take the reins, build equity, and shape the future of farming with accountability and ambition."
Registrations of interest are now open, with equity partnership structures, lease terms, and expectations open to negotiations.
Common equity partner/manager roles have ownership of the land too - this is not the case for Mahiwi as Pāmu cannot sell an interest in whenua.
A minimum investment of $250,000 is required to be considered for the equity manager role.
"Pāmu is proud to lead the way in creating new models of farm ownership," Mark Leslie says. "Mahiwi is the first step in a broader strategy to support talented operators with the tools, trust, and investment they need to thrive."
Key Features of Mahiwi Farm:
- 708 effective farming hectares
- 7,000 stock unit property
- 90 paddocks averaging 7.9ha each
- Average pasture yield: 8.1 tonne/ha/year
- Average rainfall: 1,734mm/year
Infrastructure includes:
- One 4-bedroom, one 3-bedroom home, one 2-bedroom cottage and shearers' quarters
- One woolshed, two sets of cattle yards and one satellite set
- One set of sheep yards and three satellite sets
- Reticulated water system across 70% of the farm
- Central lane running through the property.
