Key details of the leases and lessees are outlined below:
|Lessee||Payment frequency||Indexation mechanism||Rent review||Capital commitments|
|2007 Macgrove Project||Annually in advance
(as received from Project Growers)
|Rural Funds Management Limited (RFM)||Quarterly in advance||2.5% per annum||3 yearly reviews.
Rent payable in review years equal to 10% of an independent valuation of the property.
2007 Macgrove Project
The 2007 Macgrove Project is a managed investment scheme providing investors (Growers) the opportunity to participate in the macadamia market.
RFM is the external manager of Rural Funds Group and was established in 1997. RFM has over two decades farming experience and operate in multiple commodities including cattle, cropping and macadamias.