A large sheep and beef station in Canterbury has been bought by an American family for $12.5 million.
Photo: 123rf.com
The Overseas Investment Office gave approval in September for the Erdman family to buy the 3,400 hectares known as Big Ben Station at Rakaia Gorge in Canterbury.
The OIO decision said the family intended to integrate the station with its three other farms in the area: Coleridge Downs, Dry Acheron and Annavale.
It said the family proposed to protect about 1500 hectares of land through the QEII National Trust and extend an existing walking track onto Big Ben Station.
The Erdman family is based on their ranch in Maui, Hawaii, which it has owned since 1963.
Tony and Pam Plunkett manage the four farms in New Zealand.
The farm was sold by the Wareing family.