Adelaide, 18 June 2015 – An olive plantation in the heart of South Australia’s Murray Mallee region is being offered for sale by Registration of Interest (ROI).
Under instructions from BRI Ferrier,
CBRE Agribusiness has been appointed to undertake the sale of Lameroo Station Olives – a mixed horticulture, cropping and livestock operation spanning 2,129 hectares.
Located near Pinnaroo, close to the Victorian border and approximately 250km east of Adelaide, Lameroo Station Olives comprises properties known as 661 Karte West Road, Karte; 71 Netherton Road, Peake; and 5 Chandos Road, Pinnaroo.
The substantial aggregation includes a 437 hectare olive orchard planted to various varieties, including Frantoio, Kalamata, Banea, Piqual and Manzanillo.
Selling agent Phil Schell said the property held significant scope for a range of outcomes, which was likely to attract interest from both offshore and local buyers.
“This property is expected to ignite strong investor interest from buyers looking to capitalise on the already established olive operation and unlock its further potential with future irrigation and permanent plantings development,” Mr Schell said.
“2,881 megalitres of water entitlements support the large scale horticulture operation while the arable nature of remaining land is well suited to both dry-land and irrigated cropping as well as livestock production.”
The aggregation benefits from a range of extensive improvements including four steel frame sheds totaling 2,318 square metres of storage area, processing plant and equipment, a 463 square metre Colorbond shed, 205 square metre manager’s home and a 120 square metre weatherboard workman’s dwelling. Irrigation infrastructure includes three bores and pumps and piping to supply the orchards and centre pivot sites.
The properties and associated processing and water resources are being offered for sale by Registration of Interest and are available in one line or as separate assets.
Registrations of Interest close 7 August 4.00pm CST 2015. For further information contact Phil Schell 0418 809 849.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research ad consulting. Please visit our website at www.cbre.com.
