26 January 2007

South Africa: Barberton Orange, Litchi Farm for Sale

Johannesburg — AUCTION Alliance will take to auction a fully operational orange and litchi farm in the agricultural "hot spot" of Barberton on February 13 at 11am.

The auction takes place on the farm, which is about 16km outside Barberton on the Nelspruit road. The farm itself consists of 151ha of farmland, with only 60ha in use.

There are 30000 citrus trees -- a mixture of Valencia and navel oranges.

The property has rights to develop up to 110ha, from the Queens River which it fronts.

A canal runs through the property and there are two pump stations, of which one is equipped with an electric pump the other with a portable pump.

In addition, there are four boreholes, of which three are equipped and pump on average 10000l an hour.

About three-quarters of the trees are under micro-irrigation and there are plans to equip the bulk with the system.

The farm's practical shape, landscape and size would enable a new owner to farm an additional 80ha of land that is not being utilised.

"As per the income statements from the last two years, the farm is averaging a gross income of R2m-R3m a year," says Eli Unterslak of Auction Alliance.

"With obvious room for improvement, this has huge potential of doubling, if not tripling, in value," Unterslak said.

The farm will be sold as a going concern, including all residences (six properties), machinery and pack houses.

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