Settlement of Apple Orchard Land Acquisition
E: info@nzrlm.co.nz | +64 9 217 2905
www.nzrlc.co.nz
20 May 2024
Settlement of Apple Orchard Land Acquisition
New Zealand Rural Land Company (NZL.NZX) has settled the orchard land acquisition announced to the market on
20 February 2024. www.nzx.com/announcements/426510. The land has a total area of approximately 97 hectares
of which 82 hectares are planted in a range of apple varieties. The orchards will be leased to Kiwi Crunch for a
period of 30 years with a year one income of ~$1.4m.
Located near Twyford, the orchard land features high quality soils well suited to intensive horticulture and enabling
a range of alternative uses.
This acquisition confirms NZL’s entry into a new sub-sector and sees the addition of an experienced, well capitalised
tenant. Furthermore, the 30 year lease term materially increases NZL’s weighted average lease term, increases the
frequency of rental reviews and increases portfolio yield.
For further information please contact:
Richard Milsom - Director, NZRLM
Mobile: 021 274 2476
Email: richard@nzrlm.co.nz
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
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