GLYNN WYE STATION. ref# 53740

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1 GLYNN WYE STATION ref# Level 2, 17 Sir William Pickering Drive, P O Box 39095, Christchurch Whalan David Murray Limited, Bayleys Fax Licensed under the REA Act canterbury@bayleys.co.nz

2 Iconic High Country Station - 25,600 hectares (63,000) A Canterbury icon, Glynn Wye Station comprises a total of 25,600ha, currently winters approximately 20,000SU and has wintered up to 30,000SU. A balance of cultivated flats, downs, tussock hill and high country, there is still huge scope for development. From river valleys to mountain peaks with unlimited opportunities for fishing, hunting and mountain sport, Glynn Wye is an exceptional property. SITUATION The property is situated on State Highway 7, the Lewis Pass route from Canterbury to the West Coast of the South Island. Glynn Wye is approximately 25 minutes drive from the resort town of Hanmer Springs and approximately 110 minutes drive (105km) from Christchurch City and International Airport. STOCK NUMBERS TB Status C April 2009 Sheep on hand - Ewes Mixed Age 8,393 6,245 6,048 6,205 5,850 5,950 2 Tooth 3,110 1,880 1,854 1,680 1,500 1,210 - Hoggets 9,086 2,879 2,706 2,454 1,600 2,200 - Other 1, Cattle on hand - Cows Mixed Age R R Other Deer on hand - Hinds Mixed Age R R Stags Mixed Age R Total stock units 29,645 21,126 20,740 19,896 18,281 18,305 Lambing percentage Average 83% 102% 120% 110% Calving percentage Average 90% 96% 94% 85% Stock unit values are calculated as per Lincoln University standards, ie MA Ewes 1, Hoggets 0.8, MA Cows 6, R2 Heifers -5, R1 Heifers 4, Others 5 MA Hinds 2, R2 Hinds -2, R1 Hinds 1.2 MA Stags 2.5, R1 stags 1.4

3 3 STOCK HISTORY Glynn Wye wintered between 25,000 to 30,000 stock units in the mid to late 80 s. The station has an annual on farm sale in late February of each year in which cast for age ewes, prime lambs, store lambs, cast for age cows and R2 heifers and steers, cast for age hinds, stags, weaner stags and hinds are all sold. During the mid to late 80 s, they retained and finished a large majority of their lambs and a large number of wethers were also run on the station. HOMESTEAD The main homestead is a 465m 2 summerhill stone home with long run iron roof, double glazing and is in very good condition. It includes 5 bedrooms, the very large master bedroom having exceptional views to the mountains and sliding doors opening onto the terrace, a large ensuite and walk-in wardrobes. A spa room is built off this room. The main bathroom and toilet services the other bedrooms, two of which open out onto the terrace. The kitchen/dining room has a Rayburn multi-fuel coal range with a wetback and a two door fridge/freezer with icemaker. Doors open from this room into the lounge, which is heated by an open fire and has doors opening out onto a large terrace. The large, well equipped laundry opens into the three car garage and lock-up equipment room. There is an additional toilet outside. The home is centrally heated by hot water fanned wall heaters. It is set in an expansive lawn area with wonderful alpine views and well sheltered by a pine forest behind it.

4 MANAGER S HOUSE 4 This home was the present owners original homestead and is now the Manager s House. A 460m 2 four bedroom, plus attic bedroom (and adjacent room with hand-basin), permanent material home in very good condition. Three bedrooms are doubles, one with hand basin and shower and the others adjacent to the main bathroom with toilet, shower and hand basin. The home also has a vanity room with toilet and hand basin. The large kitchen/dining room has a walk-in pantry and a Lady Kitchener log fire with wetback. A very large attached double block garage has been added recently. SHEPHERDS QUARTERS A 221m 2 four bedroom home with a large sunroom which can be used as a fifth bedroom. This home is plaster coated and in good condition. The large kitchen/dining room has a walk-in pantry and opens into the living room/lounge, which is heated by a Kent logburner with wetback to heat 2 water cylinders, bathroom, shower and laundry. There is a covered walkway to an additional toilet outside, single garage and woodshed. GATEHOUSE A modern 179m 2 three bedroom plus sunroom, shiplap and weatherboard home in very good condition. Kitchen/dining room has Lady Kitchener log fire with wetback, lounge, bathroom, 2 toilets and a good sunroom overlooking the property entrance and the Hope River. There is an extra bedroom off the garage and large wood and coal bins at the back door. STOCK MANAGER S HOUSE A new, 200m 2 three bedroom weatherboard home with a lovely modern kitchen/living area which enjoys the sun from early morning and is heated by a log fire. Bathroom and separate toilet. The adjacent large double garage also has 2 extra rooms for further bedrooms or for storage and a covered walkway to the house. The home is completely fenced with deer netting and boasts a very large pond with fish.

5 FARM BUILDINGS 5 The property has an excellent infrastructure, with all buildings maintained to a high standard. There are numerous sheds, including: Six stand woolshed with covered yards to house 750 woolly sheep, plus 350 in an adjacent shed Large uncovered yards Modern deer shed 5 hay sheds 4, 5 and 6 bays in very good condition 5 implement or utility sheds 4 to 10 bays Fertilizer shed to service the airstrip Two large silage pits located at either end of the flats 3 sets of sheep yards 4 musterers huts with bunks Cattle yards with crush and large covered race Cattle yards at the Somerdale end of the property

6 CONTOUR 6 The expansive property ranges from flat, to rolling downs, to the mountain tops in the leasehold land. The Homestead is at 440m above sea level. The Flats are at 542m - 660m above sea level. Mt Longfellow is at 1,900m above sea level. Approximately 4,780 hectares are freehold, with road and river frontage, with the balance being pastoral lease. ASPECT Most of the station is of sunny, north facing aspect and benefits from the North West breeze coming out of the Lewis Pass, giving it a unique micro climate, even throughout the winter months. SOILS Craigieburn and Tasman on the flats. Kaikoura, Bealey and Tekoa on the hill country. FERTILISER HISTORY Fertiliser is generally applied as per Ravensdown recommendations, which were: Superphosphate 63 tonne 64 t Sulphur Super tonne 199 t Urea 10 tonne 20.5 t Cropmaster/DAP/Borate tonne 40.5 t Magnesium Oxide 8 tonne - Lime 575 tonne 282 t 2005/ / / /2009

7 A summary of 65 soil test show an average ph of 6.04 and a wide range of Olsen P levels, depending on location and soil type as below. Below samples 13 to samples 21 to samples 31 and above - 5 samples 7 SUBDIVISION The 800 hectare developed flats is divided into approximately 50 paddocks with a large central laneway. An extensive deer unit of approximately 1,500 hectares has been established, that takes advantage of the strong sunny hill country adjacent to the flats. Modern deer handling facilities complement the well fenced and laned unit, subdivided into large open blocks, ideal for large numbers of breeding hinds or velveting stags and the balance is in smaller paddocks, ideal for weaning and intensive feeding.

8 COVER 8 The cultivated flats are in either pasture or greenfeed crops, the downs are largely tussock covered with approximately 3,000 hectares having been oversown and topdressed and the high hill is native pasture running to scree on the mountain tops. TREES / SHELTER Extensive pinus radiata shelter belts have been planted on the developed flats. There is approximately twelve hectares planted in forestry on the home block 4ha in 30 year old Douglas Fir, 4ha in 30 year old Radiata pines and four hectares in 18 year old Radiata pines. On the Somerdale block, approximately 12ha is planted in 30 year old Radiata Pine and 24ha in 12 year old Radiata Pine. Natural shelter is provided in the gullies on the higher ground. WATER SUPPLY Houses: Water is gravity supplied to the homes from a spring. Stock: Stock water is piped to most of the paddocks. There are two lakes on the property and six major rivers with several tributaries and streams which provide a natural stock water supply.

9 RAINFALL 9 Approximately 1,150mm at the homestead, increasing up the hill and west up the Hope Valley. SERVICES Schools: Primary School at Hanmer Springs and Secondary School approximately 40 minutes away at the Amuri area school or by correspondence or boarding at several excellent boarding schools in Christchurch. RATEABLE VALUATION LV $21,300,000 IV $2,200,000 CV $23,500,000 Date: 1 September, 2007 LOCAL AUTHORITY Hurunui District Council Rates: $38,000 per annum LEGAL DESCRIPTION Freehold ha Sec 1 Blk 1 Mandamus SD CB 21K/ ha Sec 30 & 31 Square 112 CB 21K/ ha Sec 65, 67, Part Sec 64, 68 & 76 Square 104 Amuri SD, Part Sec 13A, Square 83 Amuri SD Secs 1 & 2 S.O. Plan CB 46C/ ha Part Secs 66 & 72 Square 104 Amuri SD Secs 2 & 3 S.O. Plan CB 46C/236 3, ha Sec Part Sec Square 104 Amuri SD, Sec 10-18, 25 Part Secs 1-9, and Square 112 Amuri SD Secs 1-5, S.O. Plan Secs 1-4 S.O. Plan Sec 1 S.O.P Sec 1 S.O.P Sec 1 S.O.P Sec 1 S.O.P CB 46C/ ha RS37304, 37307, 37309, 37312, Part RS 37302, 37303, 37306, 37308, 37310, 37314, 37313, 37305, 37311, Sec 6 S.O.P CB 46C/ ha RSs 39625, 39626, 39628, 39629, 39630, 39631, 39632, 39633,39634, 39635, 39636, 39637, 39638, 39639, 39640, 39641, CB 8K/1277 (4, hectares) Leasehold 20, ha Run 236 & Run 255 CB 529/26 25, hectares TOTAL

10 COMMENTS 10 Those seeking a large scale New Zealand station will welcome the offering of Glynn Wye with its balance of contour and its mix of stock. The standard of improvements will impress even the most discerning. There is excellent fishing in the Kakapo and Hope rivers and great hunting in the vast areas of native bush, open tussock valleys and rugged mountain tops that are home to large number of wild deer, pigs and chamois. The location on a major state highway and bordering national parks of a mountain wilderness nature is unique, making Glynn Wye productive, accessible, remote, stunningly beautiful and enigmatic. The beekeeper has a five year right to the Somerdale block. SALE DETAILS Glynn Wye is to be sold as a going concern and includes an impressive list of well maintained plant and machinery, including modern tractors, an excavator, bulldozer, grader, a large fleet of 4 wheel drive vehicles and even a fire engine. The stock and plant as described will also be included in the sale. The Vendors invite offers REF:GRACOX While these details are prepared with the greatest of care the Vendor and Whalan David Murray Limited accept no responsibility for omissions or misdescriptions.

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