A portfolio of 24 rural properties located in Victoria’s renowned agricultural region of Colac Otway is being offered for sale.
CBRE Agribusiness has been appointed to sell the Otway Portfolio, comprising approximately 2,600ha of high quality freehold land currently planted to Eucalyptus Globulus.
Asset Manager New Forests Asset Management (New Forests) is seeking to enter into sale and leaseback arrangements with the purchaser/s, retaining management of the properties until the conclusion of each harvest.
Located between Geelong and Portland, the portfolio consists of properties ranging in size from 30 hectares to 240 hectares, including some harvested properties that will be available for purchase with vacant possession.
CBRE’s Peter Ryan, who has been appointed steer the sale process in conjunction with Jarrod Ryan, said the portfolio represented an outstanding opportunity to acquire attractively priced land in a reliable, high rainfall agricultural region.
“Previous to its current use as a timber plantation, the properties were utilised for either high value dairy or grazing – and provide significant scope for reversion to these uses,” mr Ryan said.
Alternatively, post-harvest, the properties are suitable to replant to a range of timber species, with their location ideal for plantation management being situated within haulage range to export ports at Geelong and Portland, and also close to processing facilities at Colac, Geelong and Portland.”
The Otway Portfolio is being offered for sale via Private Treaty, either as a portfolio, individual properties or any combination to suit requirements.
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 (based on 2016 revenue). The Company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website atwww.cbre.com.
