Purchase increases Centuria Agriculture Fund investment portfolio to four high-profile farms
Australasian real estate fund manager Centuria Capital Group has acquired a A$21.5m greenhouse and glasshouse facility within the Adelaide Plains, South Australia, for its open-ended unlisted Centuria Agriculture Fund (CAF).
The facility continues to be operated by P’Petual Holdings, one of South Australia’s largest growers of tomato, mini-cucumber, eggplant and jalapeno/mini capsicum varieties.
The property provides 12ha of protected cropping within a 59ha land parcel. This includes 6ha hectares of glasshouses and 6ha hectares of double skinned plastic greenhouses. These facilities have the capacity to produce approximately 1,488 tonnes of tomatoes, 136 tonnes of cucumbers, 517 tonnes of eggplants and 43 tonnes of capsicums per annum.
Additionally, the property includes large packhouses with onsite energy, fertigation and reverse osmosis infrastructure as well as a dam and bore water licences.
The acquisition expands CAF’s portfolio to four high-profile farms across New South Wales, Victoria and now two in South Australia worth A$351m.
Jason Huljich, Centuria joint chief executive, said “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.”
Andrew Tout, Centuria head of agriculture, added, “Centuria is excited about this recent acquisition, which provides an exceptional opportunity for P’Petual to scale-up and implement operational efficiencies. It is another great example of Centuria partnering and collaborating with seasoned agricultural innovators.”
The property’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 planning approval for an additional 4ha glasshouse.