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368 Mangamaire Road, Pahiatua, Tararua

Tender, 16 Dec 2026 14:00

90.69ha

Tararua Ground Lease: 35-Year, CPI-Linked Income

90.69 ha freehold, leased to a utility-scale solar developer until 2060, with renewal rights to 2075.

368 Mangamaire Road offers secure, long-term, inflation-linked income. It is 90.69 hectares of freehold land in the lower North Island, sold with a 35-year ground lease already in place to the developer of a consented utility-scale solar farm.

The lease started in May 2025 for an initial 35 years, with three further rights of renewal of five years each, giving potential tenure to 2075. Rent is $396,855 plus GST a year, paid monthly in advance. Rent is reviewed every year to CPI, uncapped, and cannot reduce. The tenant pays council rates and lease outgoings on top of rent. The lease is backed by a trading-bank guarantee, and the tenant has no break rights.

The site is flat former dairy land on a single freehold title, on both sides of Mangamaire Road, about 8 km south of Pahiatua. It sits beside the Mangamaire substation, a Transpower grid exit point (GXP), with National Grid lines running along Mangamaire Road. That grid access makes the site strategically important to the tenant.

The landlord keeps ownership of the land throughout. An owner gets decades of indexed income now, and quality land for the generations that follow.

Investment highlights

• Rent of $396,855 p.a. + GST, paid monthly

• Annual CPI reviews, uncapped and upward only, so the rent cannot fall

• 35-year initial term from May 2025 (to 2060), plus 3 x 5-year renewals (to 2075)

• No tenant break rights

• Tenant pays council rates and lease outgoings

• Trading-bank guarantee

• Single freehold title of 90.69 ha, beside Transpower’s Mangamaire GXP

• Resource consent granted 2023

• No tenant right of first refusal

The Information Memorandum, lease and title are available to parties who sign a confidentiality agreement.

For Sale by Tender closing 2pm, Wednesday 16 December 2026 (unless sold prior)

Additional details

Type

Lifestyle Property

Property ID

67043211

Listed on

30/10/2026

Updated

yesterday

Property insights

OneRoof estimateRating valuationProperty history

Rating valuation

Property data

Land Area

90.69ha

Property Type

Lifestyle Property

Title

Freehold

Title Number

1211751

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Pahiatua, Tararua

Pahiatua is a suburb which lies within the Territorial Authority of Tararua, one of 12 residential suburbs which form the wider region. Pahiatua is the 2nd largest suburb of Tararua in terms of the total number of residential housing stock. Pahiatua provides a range of housing stock, with the earliest residential housing recorded in the area constructed between 1890 - 1899. The majority of the residential housing stock in the locality was constructed between 1950 - 1959. Residential housing stock in Pahiatua is made up of approximately 79% residential housing , 2% residential investment housing and 19% lifestyle properties.

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