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AUSTRALIA : Major Northern Territory mango farm up for sale










ABC Rural 




By Matt Brann


Posted 1 hour 43 minutes ago















One of the Northern Territory's biggest mango farms is up for sale.




Jabiru Tropical Orchards runs about 35,000 mango trees across four properties near Darwin.




A total acreage of about 350 hectares, it was bought back in 2009 by a group of overseas investors, who have decided to sell.





Tim Altschwager is managing the sale, and says although there's no price tag associated with the portfolio, recent sales of similar assets in the north suggest the farm could sell for $20,000 a hectare or more.








"It could again attract overseas investors,"
he said.





"We definitely get enquiries (from overseas) for horticultural assets all over Australia, and this one is a large asset and that's what they look for."






If a sale goes through, it'll be the second Northern Territory mango farm to change hands in recent months, after the nearby Acacia Hills Calypso Farm was sold for a sum understood to be around $10 million.








Ross Maxwell is the president of the NT Mango Industry Association (NTMIA) and the current farm manager for Jabiru Tropical Orchards.








He says the sell-off of mango farms isn't a negative reflection on the industry.





"Anyone looking to get into this industry is at the beginning of what I would consider a boom,"
he said.





"We're now passing all other states with our production level... and yet I don't think mangoes have reached their full potential yet in the Territory."









Mr Maxwell says it'll be up to the new owners on whether he stays on as the farm manager for Jabiru Tropical Orchards.









http://www.abc.net.au/news/2014-03-05/northern-territory-mango-farm-sale/5298602

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