Revelations Kainga Ora's 70-million-dollar farm land grab near Tauranga, trumped private sector offers

The Government's offer for rural land known as Ferncliffe Farms upstaged private sector bids because it offered a "huge upfront payment" with no conditions to mitigate risk.

Sources told the Herald the highest private sector bids included payments structured over a number of years.

So, in order to outbid private sector developers, the agency obtained two valuations for the land one of which made the assumption rezoning was already achieved.

But, the 95-hectare rural property still requires rezoning by the local council before it can be developed for housing.