Property Roundup: CAF acquires $21.5 million greenhouse and glasshouse in SA

Centuria Agriculture Fund has acquired a $21.5 million greenhouse and glasshouse facility within the Adelaide Plains, South Australia, for its open-ended unlisted Centuria Agriculture Fund (CAF).

The asset, located at 234 Carmelo Road, Riverlea Park SA, provides 12 hectares of protected cropping within a 59-hectare land parcel. This includes six hectares of glasshouses and six hectares of doube skinned plastic greenhouses.

These facilities have the capacity to produce about 1488 tonnes of tomatoes, 136 tonnes of cucumbers, 517 tonnes of eggplants and 43 tonnes of capsicums per annum.

Additionally, the asset includes large packing sheds along with onsite energy, fertigation and reverse osmosis infrastructure as well as a dam and bore water licences.

The asset continues to be operated by P’Petual Holdings, one of South Australia’s largest vegetable growers of tomato, mini-cucumber, eggplant and jalapeno/mini capsicum varieties.

The acquisition expands CAF’s portfolio to four assets worth $351 million.

“The Adelaide Plains acquisition is aligned with CAF’s investment strategy to acquire high-quality agricultural assets, leased to reputable operators with strong ESG credentials and in higher revenue producing sectors such as protected cropping,” Centuria Joint CEO Jason Huljich said

The asset’s sustainability credentials extend to robust water management through recycled rainwater and surplus water, recycling carbon emissions, and integrated pest management via the introduction of “good insects” into the greenhouse facilities to combat unwanted insects.

The acquisition also includes a Development Application (DA) approval for an additional four-hectare glasshouse, providing a value-add opportunity to further enhance CAF’s size and footprint in the agricultural real estate sector.

Wimmera cropping country for sale after four generations

An aggregation of Wimmera cropping country is for sale after being held by one family over four generations.

The five parcels, totalling 765-hectares, at Kewell, about 35km north of Horsham, will be sold by expressions of interest.

The properties have been held by the Coffey family and Ray White Rural Victoria agent Max Brown described it as a “once in a century or even longer opportunity”.

All five lots are without buildings and are generally only boundary fenced, the only infrastructure being GWM Water Stock & Domestic pipeline access.

Expressions of interest close on February 20.