News that Costa may be selling berry farms

Pickers work the Costa Berries farm north of Corindi off Range Rd.
Pickers work the Costa Berries farm north of Corindi off Range Rd. Trevor Veale

ACCORDING to media reports today properties leased to berry and avocado producer Costa Group may be sold.

It is believed Costa Asset Management may have appointed Kidder Williams to field offers for 14 properties including those leased by Costa Group.

The Costa's as one of the country's richest families is said to be testing the market to sell properties leased to berry and avocado producer Costa Group, which is among the sharemarket's best performers over the past year.

Sources said Costa Asset Management - which is chaired by Robert Costa, who co-founded Costa Group with his brother and former Geelong Football Club chairman Frank Costa - may have appointed Kidder Williams to field offers for 14 properties including those operated and leased by Costa Group.

The move would unwind some of the Costa family's related party transactions with the listed Costa Group, an arrangement, which has been queried by a number of investors and analysts since the group listed in July 2015.


Costa Group's Range Rd blueberry farm.
Costa Group's Range Rd blueberry farm. Trevor Veale

Costa Group floated at $2.25 a share in July 2015 and closed on Tuesday at $4.71.

The properties leased to Costa Group include blueberry and raspberry farms north of Corindi.

"If they did look to sell them, we may or may not be interested in buying them," said Costa Group chief executive Harry Debney when contacted by The Australian Financial Review. 

"They are not a dominant part of our portfolio, we have in excess of 40 farms."

The leases for the Costa Asset Management farms expire in 2026, with options to renew.  

Great things happen to good people

HAPPINESS: Advocate reader strikes a chord telling us to focus on the positives of life on the Coffs Coast. We agree.

What's got the Coffs Coast talking?

A Super Tonic to start the day

The Brett Bellamy trained Super Tonic races away to win the opening race of the day at Coffs Harbour after jockey Raymond Spokes found a great lane using the inside cutaway.

Coffs trainer rates today's first start winner Super Tonic highly.

Meat tray thief gets a grilling in court after pursuit

COURT GRILLING: David Noel Moore, 28, pleaded guilty to five charges in Coffs Harbour Local Court on Monday.

Man who stole nine meat trays given a hefty jail sentence

Local Partners

'BIG MISTAKE': Caravan owners forced to leave

RADIO personality Neil Marks said he believes the NSW Crown Holiday Park Trust have made a mistake when it comes to the eviction of caravan park tenants.

Challenge for cyclists of all levels and ages

This year's C.ex McDonald's Cycle Challenge is being held on Sunday, August 6. You can ride in the the 10km family ride, 20km, 40km, 60km, or the 100km challenge.

This year's cycle challenge is being held on Sunday, August 6.

New developments announced for Curryfest

TASTE TREATS: New developments for Curryfest 2017.

Fresh ideas and developments show no sign of slowing down.

Bundy mum blogging to get families offline

FAMILY FUN: Deonie Crowther is holding family craft sessions at the Windmill Cafe in Bargara.

Crafty projects a hit with parents and children

MasterChef: Fish fry feast too much for Ipswich cook

NICOLE Stevenson narrowly misses out on MasterChef's Top 10 but local dad Ben Ungermann makes the cut.

Thor on holiday: Chris Hemsworth is here!

If you didn't know who he was - you'd think he was a local

Nintendo set to release the Super NES Classic Edition

Nintendo is releasing a miniature version of their Super NES console

Brad and Sienna spotted ‘holding hands’

Brad Pitt has been spotted at Glastonbury.

ACTORS were seen together at the Glastonbury festival.

Big Brother winner Reggie Bird could end up homeless

BACK in 2003 she won the third season of Big Brother Australia, pocketing $250,000 for her win — but Reggie Bird’s life has been far from easy since then.

The reality star makes a heartbreaking confession

On your toes . . .

Beauty of ballet comes to town

Sunday sesh with McKenzie boys

Check out these guys playing the Hoey Moey on Sunday, July 2.

Island caretaker has weeks to live, abandons paradise

St Bees managing director Phil Webb, has been struck with illness and it has prompted the sale of the island.

His health has deteriorated in the past couple of months

Prime CBD site sold as laneway culture progresses

The Longs building Ruthven Street has been purchased by a group of investors to be renovated into a series of shops/eateries.  June 2017

How investors and council plan to transform the Toowoomba CBD

House build hits the spot

Owner Libby Parish from Thora commissioned licensed builder Cormac McMullan, of Cormac & Co to build her a two bedroom, one bathroom house with a skillion roof.

Is this the answer to affordable housing on the Coffs Coast?

Major German supermarket set to open in southeast Queensland

German supermarket giant Kaufland is understood to have approached southeast Queensland councils about a possible distribution centre, which would kickstart the establishment of new supermarkets.

Supermarket giant Kaufland has its eyes firmly on Queensland.

Ready to SELL your property?

Post Your Ad Here!