Receivership sale of big Central Otago orchard business and assets
Summerfruit Orchards sale
Summerfruit Orchards Limited, one of the largest stone fruit orchard operations in New Zealand, located between Alexandra and Clyde, in Central Otago,is being offered for sale by Bayleys on behalf of its receivers, Colin Gower and Time Ward of BDO New Zealand.
David Gubb, director of Bayleys Locations in Queenstown is calling for tenders closing on October 30 for the business and assets.
Summerfruit comprises a 201 hectare property of which 50ha of the orchard is planted in stone fruit trees including: cherries consisting of about 20,000 trees of 10 different varieties; and 23,000 apricot trees of 14 different varieties; along with smaller plantings of nectarines and peaches.
Gubb says an additional 10-12ha of easy-contoured land is suitable for further plantings.
In addition, Summerfruit has secured two leases of adjacent land, comprising 9.2ha of established cherries and 2ha of established nectarines.
The majority of Summerfruit’s produce has been historically exported and has recently made significant capital investments in new plantings. Facilities include a large scale modern packaging shed, administration complex and three cool stores.
“These investments provide an incoming purchaser with a huge opportunity to increase production and revenue,” Gubb says.
Summerfruit sources water from the Earnscleugh Irrigation Scheme which draws water from the Fraser River and associated Clyde Hydro’ Dam. There are three dams on the property for water storage which supply the overhead frost-protection sprinklers and additional under-tree irrigation sprinklers.