Cover image courtesy of Magic Millions
One of New Zealand's most successful and well-known thoroughbred nurseries, The Oaks Stud was purchased in 2002 by Dick Karreman whose blue and white colours have been seen aboard many a high-quality campaigner including the current star 3-year-old Savaglee (NZ) (Savabeel).
“It is big news,” Clint Donovan said, excited to be chosen as a part of the team offering The Oaks Stud to the world.
“The Oaks has been a mainstay of New Zealand racing and breeding for a long time, they have produced a lot of good horses and the farm has a great history.
“The Oaks has been a mainstay of New Zealand racing and breeding for a long time, they have produced a lot of good horses and the farm has a great history.” - Clint Donovan
“Having lived in Cambridge for several years it feels like my business has come full circle, I am looking forward to getting back to my old stomping ground!”
He is also excited to be working with Precision Real Estate's Nicky White who will concentrate on the New Zealand angle of the sale whilst Donovan seeks potential buyers in Australia and overseas.
“As a highly successful real estate agent who wears two hats, also running with her husband Nick, Kaha Nui Farm, one of the emerging players in New Zealand breeding, she is the absolute perfect fit for us to team with.”
Clint Donovan | Image courtesy of The Image is Everything
An international campaign
“An international campaign” is being readied to sell the many benefits of purchasing The Oaks, this sale one like no other stud farm in recent history with its location a major selling point.
“Cambridge is the fastest growing regional town in New Zealand,” Donovan said. “And The Oaks is right on its boundary.”
Making its 500-plus acres valuable not just as prime breeding land but as investment.
Gallery: The Oaks Stud
“Dick has already successfully sold off small portions of The Oaks for housing and as Cambridge continues to spread it is inevitable that this land is going to be of great interest to real estate investors.”
The ideal buyer, he said, would be someone happy to enjoy the fruits of Karreman's labour for five to 10 years before cashing in on the increased value in time.
“It would be like making money in your sleep!” he laughed.
“It (buying The Oaks Stud) would be like making money in your sleep!” - Clint Donovan
Karreman, he said, is happy to take on board any potential buyer's desires for The Oaks, whether it be a sale of just the farm itself, or of its stallions, broodmares and racing interests; or differing combinations of each of those.
“It is really up to the buyer,” Donovan explained, adding that New Zealand's tax laws (in particular the absence of a capital gains tax) make The Oaks an even more alluring prospect, especially as it is already divided into six titles
“Whether a buyer holds on to land to sell later or decides to subdivide, New Zealand's tax system is advantageous.”
Upswing in New Zealand industry
An upswing in the confident of the New Zealand racing and breeding industry is also something on Donovan's mind in regards to any buyer interested in continuing The Oaks business.
“There is no doubt that the New Zealand industry has been through some tough times, but it really feels like they are on the other side of that.
“With investment by Entain and this week's Greenfield announcement there are lot of exciting things happening in New Zealand.”
“With investment by Entain and this week's Greenfield announcement there are lot of exciting things happening in New Zealand.” - Clint Donovan
Should it be a breeding buyer for The Oaks, they are going to be appreciative of the farm's history of producing high-class horse with their paddocks home to the likes of Seachange (NZ) (Cape Cross {Ire}), Recite (NZ) (Darci Brahma {NZ}), Artistic (NZ) (Darci Brahma {NZ}), Risque (NZ) (Darci Brahma {NZ}), Devise (NZ) (Darci Brahma {NZ}), Keepa Cruisin (NZ) (Keeper), Catalyst (NZ) (Darci Brahma {NZ}), Shuka (NZ) (Bachelor Duke {USA}), Sakhee's Soldier (NZ) (Sakhee's Secret {GB}) and Zagalia (NZ) (Zabeel {NZ}) all being Group 1 winners.
And each of those was thoroughly enjoyed by Dick Karreman with Donovan taking note of his “immense passion for horse racing and breeding. He absolutely loves it and he is very excited to have Savaglee racing for him at the moment.”
Rick Williams an integral part of The Oaks success
Accompanying Karreman every step of the way has been The Oaks' General Manager Rick Williams who has spent the last 26 years of his life at the farm, previously working for Terry Jarvis.
“The stud has grown a lot since then,” Williams said. “From 200 acres to 500."
There is passion in Williams' voice as he talks about The Oaks, saddened to see it go but already making plans for a semi-retirement. “I won't give up my involvement,” he said, hoping to continue working with thoroughbreds on a consultancy basis.
Rick Williams and Dick Karreman | Image courtesy of Trish Dunell
And he knows that Karreman won't be out of racing either. “He has a big racing team because he absolutely loves that side of it,” he said.
The Oaks has, he said, actually been on the market for a few months with the announcement coming on the back of a decision to make its availability known worldwide.
“Family issues have forced Dick's hand,” he said, noting that the New Zealand tax laws make it more viable for him to sell his assets in that country rather than those in Australia.
“Racing is a hobby for him, a big one, but still a hobby,” Williams said. “It is not his core business.”
“Family issues have forced Dick's (Karreman) hand. Racing is a hobby for him, a big one, but still a hobby. It is not his core business.” - Rick Williams
Whilst more than happy to welcome any buyers willing to take on The Oaks as an on-going business, Williams noted that the internet age has made it easier to trade horses and should the land sell on its own, there is the online option in regards to selling the horses.
A significant racing team
Horses The Oaks have shares in, such as Storm Boy (Justify {USA}) may, he said, be separate to the sale but there are still plenty on offer with 55 mares being bred with currently whilst Williams is overseeing the preparation of some thirty yearlings heading to the next series of yearling sales.
“I have never really sat down and counted how many horses we have, but it's probably around 160/170, maybe even up to 200 including a significant racing team.”
The Oaks Stud is a majority shareholder in the stallion U S Navy Flag (USA) whilst standing The Chosen One (NZ) for a syndicate. Roc De Cambes (NZ) is an older horse whilst a couple of retirees are close to Williams' and Karreman's hearts; Darci Brahma (NZ) - “he looks great, he just isn't fertile anymore” - and Seachange (NZ) (Cape Cross {Ire}) - “she is a picture of health” - still going strongly at 22.
Gallery: Retirees that are close to Williams' and Karreman's hearts.
The stud's infrastructure, machinery and equipment also have plenty value, but it is the land that Williams describes as “the key asset.”
“By putting it on the market internationally we can really flush out potential buyers,” he said, looking forward to seeing “who comes out to play!”
