Rich Listers to turn Ferrero nut orchards into olive groves

Larry SchlesingerReporter

Oct 9, 2024 – 4.17pm

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goFARM, an agricultural platform backed by the Rich List Costa family and Qantas Super, has scored a bargain snapping up confectionary giant Ferrero’s former hazelnut orchards in the NSW Riverina for 25 per cent less than the original asking price.

The price paid by goFARM for Dellapool – a 2681-hectare aggregation near Narrandera that includes 11,361 megalitres of valuable water entitlements – is confidential, but well-placed sources said the deal was worth about $60 million.

clarification —

This article was updated on November 11 to reflect the ownership of Costa Asset Management.

Larry Schlesinger writes on real estate, specialising in commercial and residential property. Larry is based in our Melbourne newsroom.