On July 10 at 11am, Ian Wyles Auctioneers will call for bids for a farm in the Upper Dargle area of the KwaZulu-Natal Midlands which the auction house says has permission to grow medicinal cannabis oil.
The sale of Portion 1 of the Farm Runnymeade, to be auctioned under a power of attorney from a financial institution, will be held at the Gowrie Farm Golf Lodge in Nottingham Road.
Andrew Giddy, who is handling the sale for Ian Wyles Auctioneers, says the government approval for cannabis is “among the first to be granted in KwaZulu-Natal and, with returns apparently in the region of R17million/ha annually, is clearly a profitable operation for farm owners, especially in the KwaZulu-Natal climate, which is said to be ideal for cannabis cultivation.”
Giddy says the growing of cannabis has been described as the next South African gold rush.
The farm is zoned “agricultural” and has plenty of water.
“The 488ha property has 250ha of arable land, of which 80ha are planted with four-year-old gum trees and the rest is veld grazing. Improvements include a 650m² steel shed in good condition, a five-bedroom farm house that requires restoration, cattle handling facilities and two smaller sheds. The area is well-known for beef, potato and timber farming.”.
For more details, call Andrew Giddy on 0826019278 or 0315794403 or email [email protected].