129 Tutaekara Road, Pahiatua, Tararua

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

129 Tutaekara 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)