- Investments »
- Property Asset #1 »
- Property Asset #2 »
- Property Asset #3 »
- Property Asset #4 »
- Property Asset #5 »
- Property Asset #6 »
- Property Asset #7 »
- Property Asset #8 »
- Property Asset #9 »
- Property Asset #10 »
- Property Asset #11 »
- Property Asset #12 »
- Property Asset #13 »
- Property Asset #14 »
- Property Asset #15 »
- Property Asset #16 »
- Property Asset #17 »
- Property Asset #18 »
- Property Asset #19 »
- Property Asset #20 »
- Property Asset #21 »
- Property Asset #22 »
- Property Asset #23 »
- Property Asset #24 »
- Property Asset #25 »
- Property Asset #26 »
- Property Asset #27 »
- Property Asset #28 »
- Property Asset #29 »
Agricultural Property Asset No.2 - 76Ha - Strawberry Property - Caboolture QLD
On 12 March 2007 ARK purchased 76.43 hectares of land 7 kilometres northwest of Caboolture in Queensland for the purchase price of $4,040,000 (Strawberry Property).
ARK drew down on its debt facility with NAB in order to complete the purchase of the Strawberry Property. The purchase was made therefore with 100% debt capital.
Simultaneous with its acquisition, ARK leased out the Strawberry Property for an initial term of 10 years. The starting rent is $404,000 plus GST. This equates to an income yield of 10%. The rent to be earned by ARK automatically rises by 2.8% per year during this 10 year lease period.
The Strawberry Property is comprised of 3 certificates of title and has a fence to fence area of 76.43Ha. Prior to making an offer for the Strawberry Property, ARK received a sworn valuation in respect of the Strawberry Property which swore that the value of the Strawberry Property was $3,950,000.
The sworn valuation of the Strawberry Property also makes the following important points:
- The Strawberry Property is a very good farm, one of the largest in the area and has very good water and irrigation infrastructure.
- The Strawberry Property is suitable for a wide variety of crops (such as pineapples and sorghum) and orchards (such as macadamias, lychees and avocadoes).
- The Strawberry Property has medium to long term residential subdivision potential.
- The Strawberry Property is known as a consistent producer of high quality public variety strawberries.
- The Strawberry Property has excellent on-farm water (via 5 on-farm dams) and is also connected to the town scheme water. The dams are equipped with good electric pumps, filtration systems, irrigation mains and distributor lines.
- The Strawberry Property is located in an area which is subdivided into numerous small farms, hobby farms and rural home sites.
- The Strawberry Property has frontage to Green, Childs and Ziviani roads, all of which are sealed bitumen roads.
- The Strawberry Property is connected to electricity, telephone and town scheme water services. There is a wide range of services available in Caboolture.
- The Strawberry Property is well drained and above flood levels.
- Located on the Strawberry Property are two fully functional residential homes as well as associated farming infrastructure such as processing sheds, machinery workshops, pump and chemical sheds and storage facilities.
Town Planning
The local authority is the Caboolture Shire Council. The Strawberry Property is designated "Rural" under the current Caboolture Shire Council Town Planning Scheme. However, the Strawberry Property lies within the ‘under investigation' area of the South East Queensland Regional Plan which means that the Strawberry Property may have potential for future residential subdivision.
About Caboolture
The Caboolture region is widely acknowledged as the fruit bowl of Queensland's southeast. Its rich farmlands produce many sub-tropical fruits such as bananas, pineapples, paw paws and avocados. The Caboolture region is Queensland's largest producer of strawberries. Caboolture has a hot and humid climate, averaging about 23°C from October until March and 16°C from March to October. Monthly rainfall averages for the summer months are about 200mm and average as low as 100mm in the cooler months.
