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New Zealand Farm the Size of Monaco Expected to Fetch $10M

The 467-acre farm is located on Waiheke Island, 35 minutes away from Auckland by ferry

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A sprawling farm with a house and a cottage on Waiheke Island, New Zealand, is up for grabs.

At 189 hectares (about 467 acres), it is only slightly smaller than the 499-acre Mediterranean city-state Monaco. But the similarities stop there.  

"This is virtually untouched land," said Nick Hargreaves, managing director of Jones Lang LaSalle New Zealand, who is handling the sale. The property currently serves as a sheep and beef farm—with a lot of birds flying around. "There are now resident oystercatchers, paradise ducks, kereru, herons, kingfisher and tui that return year after year," Mr. Hargreaves said.

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The scenic property also boasts a coastline almost one mile long, two small waterfalls, stands of native bush, walking tracks and ridges with 360-degree views of Auckland City, which is about 35 minutes away by ferry.

The property is currently owned by movie director George Lyle and his wife, Diana, founders of Focus Films, based in New Zealand.  "We have seen how much the island has grown and changed over the last decade–from a peaceful retreat from the world to a bustling holiday destination and wine region. We adore Waiheke but it is time for our family to do something different" Mr. Lyle said in a statement.

The property is marketed through an international-expression-of-interest process, meaning interested buyers must register before April 21. The price is expected to go as high as NZ$10 million (about US$7.1 million).

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Traditionally a summer destination for Aucklanders, Waiheke Island is also attracting more permanent residents as the island develops. It currently has a population of 9,000, around 2,000 of who commute to Auckland every day for work, according to Mr. Hargreaves.

There is a new supermarket on the island in addition to the beaches, vineyards and restaurants there. Planned upgrades to Waiheke’s infrastructure include a $40 million investment in the school system, a community swimming pool and a 200-berth marina, according to Mr. Hargreaves.

The farm itself could be subdivided into seven 25-hectare parcels.

Write to Fang Block at fang.block@dowjones.com