Americans Buy 2000 Acres
(New Zealand Press Association) HAMILTON, June 20. American interests have so far purchased 2000 acres in the Taupo area, and are continuing negotiations to purchase Poronui station on the TaupoNapier road.
Poronui station, of 18,000 acres, is owned by the Tuhoe Trust Board, and administered by the Land and Survey Department in Rotorua.
It is believed the Americans intend to develop both blocks of land —which adjoin—and farm the country as a cattle station. At present, a large part of the country is undeveloped, being covered in low scrub and tussock. According to Mr D. W. Hill, of Auckland, the former owner of the 2000 acres purchased by the Americans, the land has been available for some time.
“Anyone could have bought it,” he said today. “It is in need of development, but there are not many people in New Zealand to lay out the necessary capital for development. I cannot see any reason why Americans
shouldn’t buy the land as they intend to start developing it shortly.” He said the Americans would probably develop the land “far sooner” than it would be developed under normal circumstances.
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Bibliographic details
Press, Volume CVI, Issue 31091, 21 June 1966, Page 3
Word Count
191Americans Buy 2000 Acres Press, Volume CVI, Issue 31091, 21 June 1966, Page 3
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