A leading Northland olive grove producing award-winning olive oil for a growing local and international market has been placed on the market for sale.
Chapel Olive Oil is a productive olive grove located close to Paparoa on the Kaiprara Harbour, two hours’ drive from Auckland. The 8.36-hectare property on two titles encompasses the olive grove, a small lake and a renovated chapel, from which the business gets its name.
The property has been placed on the market with Bayleys Whangarei salespeople Murray Lynch and Stewart Ruddell by auction, on November 19. It has a CV of $645,000.
Started in 2005, the olive grove has since won several awards for the quality of its oil, including gold and silver at the Oliveti Extra Virgin Olive Oil Awards and champion and silver placings at the Royal New Zealand Easter Show.
Mr Lynch said the property offered an opportunity for a new owner to invest in a reputable business within a growth industry.
“In New Zealand and overseas people are consuming more olive oil. This property presents an opportunity for a new owner operator or investor to walk in and take over a highly-regarded property and a wonderful lifestyle,” said Mr Lynch.
“In addition, the new owner can move into a stunning three-bedroom home that incorporates a renovated chapel, secluded on the property, in a sought-after location. This stylishly renovated chapel retains several original features, creating a beautiful and distinctive home.”
Global consumption of olive oil has increased in the past 10 years due to its publicised health benefits. It is a good source of mono-unsaturated fats and is considered to protect against primary heart disease and other conditions, and to contribute to longevity, said Mr Lynch.
“Kiwis are consuming twice as much olive oil as they did five years ago, generating a multi-million industry. The quality of New Zealand olive oil is extremely high, with strong demand in the retail and food service markets, both here and overseas, for good quality oil.
“This is an opportunity to invest in a slice of the well-established Northland olive oil industry, which is world-renowned.”
The property is located at 46B Merril Road, off State Highway One, lying between Paparoa and Matakohe.
More than 1100 olive trees, made up of Italian varieties Frantoio and Leccino and Greek variety Koroneiki, were established on the property in 2005 and are in full production. These varieties stand up well to the prevailing south westerly winds so are well-suited to the area, said Stewart Ruddell.
Chapel Olive oil is currently selling to New Zealand markets – with sales of oil currently exceeding $40,000. Only 43 percent of the grove was picked this year, yielding 1550 litres of oil – a significant increase from 2011 when 100% of the grove yielded 800 litres.
Mr Ruddell said: “These figures indicate the considerable growth potential of the business, and there is plenty of room for a new owner to further develop olive oil production and continue this trend”.
“In addition there is an opportunity to diversify the business product range, for example olive oil-based hair and skincare products,” he said.
Also on the property is a three-bay shed, a strand of native bush running down onto the eastern shores of Kaipara Harbour and a small lake.
A chapel, originally the Church of the Good Shepherd in the suburb of Remuera in Auckland, was moved onto the property. It has been renovated and incorporated with the three-bedroom home, which features a study, spacious living areas and two bathrooms.
The renovated chapel retains the original entrance doors, mahogany veneer ceiling, and laminated pine portals. The original raised alter also remains and has been converted into a formal dining area. A kwila deck wraps around three sides of the home, providing easy indoor-outdoor living and entertainment areas.
Paparoa Primary School, Otamatea High School and Ruawai College are all located close to the property. The property is being auctioned on November 19.
For further information about 46B Merril Road, contact Bayleys Whangarei salespeople Murray Lynch on 021 966 501 or Stewart Ruddell on 027 273 6860