PHOTO: SUPPLIED – Sir Michael Fay eyes up a horse at the Karaka sales.

One of New Zealand’s richest men Sir Michael Fay has put his Wairarapa farm on the market – but he won’t say why.

The 4273 hectare Lagoon Hill Station is being marketed through an international tender, but chances of an overseas buyer snapping it up may be slim following the Government’s restrictions on foreign ownership of farm land.

Any sale of more than five hectares of New Zealand land to a foreign buyer has to undergo scrutiny by the Overseas Investment Office before it can be approved.



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