|565.1ha total gross area
Rangatira Estate consists of three mature freehold forests in the Whanganui region. The forests have a gross area totalling 565.1ha and a net stocked area totalling 462.2ha.
Buyer: China Forestry Group
Seller: Rangatira Forests Limited
Services provided: Brokerage for forests with a total gross area of 565.1ha
Colliers was given the opportunity to sell three forests covering a substantial area in the Whanganui region. The challenge was to manage the requirements of multiple purchasers from around the globe. This included parties looking to purchase just one of the blocks, while others wanted to purchase the entire holding. Our expert team of Brokers ensured the process was managed so all parties could complete their due diligence and had time to get approval from their various risk management teams and boards.
A two-stage expression of interest process was run, with non-binding bids submitted at the end of stage one. Parties were then shortlisted to submit binding offers at the end of stage two. This enabled Colliers to put together the puzzle pieces for buyers of individual lots, while also assessing bids for the whole estate.
There were seven expressions of interest submitted at the end of stage one for both the individual blocks as well as the entire estate. Four parties were invited to stage two. We received four binding offers at the end of stage two, from parties based in three different continents. The quality marketing and strength of our network, which is underpinned by managing key relationships with a wide range of stakeholders, brought the buyers to us.
Our structured process ensured we maximised value, which resulted in an outstanding outcome for our vendor.
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