Record farm price as dairy booms

A farm has just been sold for $32 million in what is believed to be a record price.

And it is set to cash in on the dairy boom by switching from sheep and beef to grazing cows.

But not everyone is happy with the plans for the 3,139-hectare King Country property, 35 kilometres south of Te Kuiti.

"As far as we're concerned or are aware of, yes it is (a record), especially for the sheep and beef side of things, it's set a benchmark," says Peter Wiley of PGG Wrightson Real Estate.

ONE News understands the vendors are a well known farming family from Pukekohe south of Auckland who over the past 10 years amalgamated five farms to make the super farm that has been sold.