Foreign owner to sell major Victorian kiwi orchards
A Hong Kong-based conglomerate has listed a 199ha portfolio of three orchards for sale, where it is expected to make more than $30 million.
A Hong Kong-based conglomerate, founded by one of the nation’s richest men, is preparing to sell a third notable Australian agricultural asset, taking its potential divestments to more than $105 million.
Cayman Islands-registered CK Asset Holding Limited, part of the Li family’s CK Group, is selling its Goulburn Valley Kiwifruit Orchards, located 15km north of Shepparton, following about four years of ownership.
In December 2020, the CK Group acquired the 199ha portfolio, paying $26.5 million in a sale and leaseback arrangement with New Zealand Exchange-listed Seeka.
Located at Bunbartha and Mundoona, the portfolio landholding consists of three established orchards, known as Hayward Orchard (70ha), Austral Orchard (89ha) and Lakes Orchard (40ha), all located within a 4km radius.
A long-term tenancy arrangement is in place with Seeka Australia until June 2031, which produces Hayward kiwifruit and nashi pears with significant interests in European pears, apricots, plums and cherries.
The triple net lease consists of one additional 10-year and two five-year renewal options, currently generating a passing rent of $2,262,776 per annum.
CK Life Sciences owns more than $2 billion worth of Australian agricultural assets, backed by the family of Hong Kong’s richest man Li Ka-Shing.
The listing comes after notable recent activity by the CK Group including the sale of the 547ha Balranald Vineyard for $2,047,500b and 4465ML of Murrumbidgee High Security water entitlements for $37,952,500 to GO.FARM.
They have also listed their 4256ha Boongargil cotton farm, a large-scale irrigated and dryland cropping property located about 60km (linear) west of Goondiwindi, where offers are expected to reach $35 million.
Elsewhere a renowned NSW Riverina horticultural farming family is calling time on its citrus enterprise, selling its premier property and associated packing operation.
Offered by the Naimo family after more than 50 years of development, NAIMO Citrus includes four citrus orchards and a substantial packing facility near Leeton, about 70km southeast of Griffith.
The operation spans 200 hectares across four well-developed properties, with 166 hectares planted to citrus, where it is expected to attract offers worth $25 million, plus plant and equipment.
Finally, two of Australia’s major organic almond producers have partnered to sell a 290.2ha aggregation in NSW and South Australia, along with an associated almond business.
Ron Gol, owned by Andrew and Marina Rix since 1999, comprises a total land area of 253.81ha with 80ha planted to Carina (28ha of which was planted in 2020), Carmel (26ha of which was planted in 2005-2006) and Nonpareil (26ha of which was planted 2005-2006) at Wentworth in far southwest NSW.
The second property, Tulunka, is being sold by John Maragozidis, and features a total land area of 36.15ha with 26.63ha planted to Carina (11.57ha of which was planted in 2018 and 2023), Nonpareil (7.59ha of which was planted between 1993 and 2013), Carmel (6.24ha of which was planted between 1993 and 2013) and NePlus (1.23ha of which was planted between 1986 and 1994).
Offers are expected to reach $15 million, inclusive of associated water entitlements, for the two properties walk-in walk-out with plant and equipment, Mr Maragozidis’ Yunis business and a South Australian almond processing and storage facility in Salisbury North, which is available for sale or lease.
Regional Victoria and the Riverina sale and auction results, week ending November 17
Regional Victoria and the Riverina recorded 16 property sales over a million dollars last week, the latest auction and sales results reveal.
Three Victorian farms hit the market for $40m combined
Two family farms in the North East and another in central Victoria have been listed for sale in separate offerings. See the details.