Key details of the leases and lessees are outlined below:

Lessee Payment frequency Indexation mechanism Rent review Capital commitments
Select Harvests Ltd (ASX: SHV) Quarterly in advance 2.5% p.a. plus rent review Market reviewed on 1 July 2016, and every 3 years thereafter. Review is based on unencumbered market value of orchard with contracted rate applied.
  • R&M on account of lessee
Olam Orchards Australia Pty Ltd Quarterly in advance CPI n/a
  • R&M on account of lessee

Select Harvests Ltd

Select Harvests Ltd (ASX: SHV) is an ASX listed company. SHV have geographically diverse almond orchards located in Victoria, South Australia and New South Wales.

SHV is Australia’s largest vertically integrated nut and health food company with core capabilities across horticulture, orchard Management, Processing, Sales and Marketing, enabling them to benefit throughout the value chain. They are also the country’s leading manufacturer, processor and marketer of nut products, health snacks and muesli to the Australian retail and industrial markets, in addition to exporting up to 70 to 80% of its almonds globally.

SHV supplies both branded and private label products to the key retailers, distributors and industrial users. Their market leading brands are: Lucky, Sunsol and NuVitality in retail markets and Renshaw and Allinga Farms in wholesale and industrial markets. In addition to almonds, SHV market a broad range of snacking and cooking nuts, health mixes and muesli.

For more information on SHV, visit their website HERE.

Olam Orchards Australia Pty Ltd

Olam Orchards Australia Pty Ltd (Olam) is a wholly owned subsidiary of Olam International Limited, an SGX-listed entity.

Olam International produces over 45 commodities and is the world’s largest producer of almonds. Throughout their business Olam International distribute to over 25,000 customers worldwide, including leading global brands such as Kelloggs, Nestlè, KraftHeinz, Costco and Aldi.

Olam International’s value chain spans over 60 countries and includes farming, processing and distribution operations, as well as a sourcing network of an estimated 4.8 million farmers.

For more information on Olam Australia, visit their website HERE.