Hong Kong's Li Ka-shing is divesting a major Goulburn Valley aggregation, generating over $33 million. The properties, encompassing Austral Orchard, Hayward Orchard, and Lakes Orchard, span 200 hectares across Bunbartha and Mundoona. These are being acquired by Warakirri Asset Management for the Warakirri Farmland Fund.
The asset is under lease until June 2031 to ASX-listed Seeka Limited, which produces jujubes, Corella pears, and is Australia's largest Nashi pear grower, packer, and marketer. It also supplies 70% of the nation's kiwi fruit.
Warakirri, established in 1993, manages assets worth approximately AUD 3.8 billion, including 11 aggregations across various Australian states, totaling around 155,000 hectares. Another trust, the Warakirri Diversified Agriculture Fund, recently invested $15 million in a 160-hectare orchard in NSW Riverina.
The Goulburn Valley properties, acquired by Li's CK Group via CK Asset Holdings Limited in December 2020 for $26.5 million, were part of a leaseback arrangement. Austral Orchard is the largest at 89 hectares, followed by Hayward Orchard at 70 hectares and Lakes Orchard at 40 hectares. Hayward fronts the No. 12 Main Channel, with GMW supply points facilitating automated sprinkler delivery. The sale includes 1000 ML of Goulburn-Murray Zone 1A water entitlements.
Post-sale, CK Asset Holdings retains control of approximately $1.8 billion in Australian agricultural assets, including 11 vineyards and 88,000 hectares of cropping farms. This transaction follows Bernard Arnault's sale of a Margaret River winery to Endeavour Group, with Warakirri purchasing Josef Chromy Wines in Tasmania from Endeavour three years ago.
Source: RealEstate Source
