Challenge
Jesse Manuel and Tim Altschwager from the Colliers Agribusiness Team were appointed to sell one of Australia’s largest individual almond orchards, Amaroo Orchards.
Located in South Australia’s Riverland region, Amaroo Orchards comprises 800 ha of almond plantings, 300 ha of citrus plantings plus surplus land for further development and 14,000 mega litres of water entitlements for irrigation.
Strategy
The sale period saw one of the most difficult rural property market’s in decades with considerable distressed asset sales right across the agricultural sector and few transactions at the top-end of the market.
As a direct result of the Project Team’s perseverance and proactive marketing strategies, Colliers Agribusiness achieved a breakthrough with an offer from ASX listed almond processor; Select Harvests.
Results
After six months of negotiations the team reached an agreement with Select Harvests that included the sale of 1,700 hectares of land and orchards, 8,000 mega litres of water entitlements and extensive plant and equipment for $55.7 million.
The sale was one of the largest individual agricultural property transactions since the sale of Cubbie Station.
