Mirage Citrus is a very well developed and maintained citrus orchard located at Renmark, the largest town in South Australias Riverland region.
This attractive property occupies a prime position in proximity to the Renmark town centre and comprises a total land area of 153ha (approx.) across nine Titles.
The property is being offered with two options for prospective purchasers: either a sale and leaseback to the current owners, making for an attractive and passive agribusiness investment, or with vacant possession for buyers who wish to be owner-operators.
The 120ha (approx.) of irrigable area comprises 95ha of citrus plantings developed from 1979 through to 2019, with the most recent plantings comprising 22 hectares of Lemons, Afourer and Cara varieties planted in 2018/19; and an additional 25ha (approx.) of prepared land ready for additional plantings.
Other varieties include Tahitian Limes, Navelinas, Washington Navels, Late Navels, Valencias and Winter Valencias.
Water for irrigation is sourced from the Renmark Irrigation Trust and the irrigation infrastructure and system has recently undergone significant upgrades.
Structural improvements comprise extensive shedding with exceptional access and storage capabilities, site offices and staff amenities plus a three-bedroom residence.
With its attractive scale, productive performance, agronomic health and increasing production upside, Mirage Citrus is an exceptional horticultural asset with the added benefit of permanent entitlements to high-security irrigation water.
Investors interested in the asset as a leased investment are being offered an initial leaseback term of 15 years on a triple net basis, with four 5-year options and annual rental income of $420,000.
Mirage Citrus is For Sale by Expressions of Interest, closing Friday 19 March at 4pm (ACDT).
To obtain an Information Memorandum or request an inspection of Mirage Citrus, please contact Jesse Manuel or Tim Altschwager of Colliers.
