Rural Funds to develop almond farm

Company News

Rural Funds Group (ASX:RFF) has negotiated a lease to develop and operate an almond orchard in the Riverina district of New South Wales.
The deal with Olam Orchards Australia is conditional on Rural Funds spending around $19 million to acquire two properties in the Darlington Point area. It is also subject to Olam winning Foreign Investment Review Board approval for the scheme. 
The plan is for a 22-year-lease to Olam Orchards with Rural Funds to supply water for the planting and as the orchard matures. 
An initial 1,500 hectares will be planted to almonds in 2016 at a cost of around $109 million with potential total plantings of around 2,500 hectares later on. 
Rural Funds reported a net profit of $10.15 million for the 2015 financial year. 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.