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- Centuria Capital (CNI)
- Centuria Office REIT (COF)
- Centuria Industrial REIT (CIP)
- Centuria Capital No.2 Fund (C2FHA)
A specialised portfolio of high quality Australian agricultural properties leased to reputable operators that is well positioned to benefit from continued growing demand for fresh food and other essential agriculture products.
The Centuria Agriculture Fund is an unlisted, open-ended property investment fund. It seeks to acquire innovative Australian agricultural properties and lease them to reputable tenants (operators) who adopt high-tech modern farming practices to increase production and reduce climate risk. Long-term, triple-net leases with operators provide the potential for stable income streams to investors.
The Fund is currently focussed on protected cropping assets, such as glasshouses, that allow operators to control the growing environment for reliable year-round output whilst decreasing wastage, increasing water efficiency and mitigating the risks of extreme weather.
Fund at a glance:
- Aims to provide a regular monthly income stream with the potential for capital growth.
- Well positioned to benefit from continued growing demand for fresh produce.
- Can offer diversification as Australian agriculture has a low correlation with share markets.
- Strong focus on protected cropping; a sustainable farming practice that helps improve environmental outcomes.
- Centuria has over 60 years’ combined experience in agribusiness, giving us the knowledge and industry contacts to find opportunities others may overlook.
Landlord or tenant. Who owns what?
Discover which assets are typically owned by Centuria (as the landlord) or tenants (as the operators), when agricultural property is acquired by the Fund.
Fund overview
5.50 cpu
distribution rate (annualised)1
Monthly
distributions2
100%
tax deferral status on distributions3
Limited
quarterly
withdrawals4
Fund facts
Fund facts
| APIR code | CNT3531AU |
| Inception date | 20 July 2022 |
| Minimum investment / withdrawal amount | $10,000 |
| Distribution frequency | Monthly2 |
| Investment term | Five years |
| Withdrawal frequency | Limited quarterly withdrawal facility4 (March, June, September and December) and a periodic liquidity event every five years. |
| Management fee | 0.60% p.a. of the Fund’s gross asset value. Refer to the PDS for full fees and costs. |
| Unit pricing | Daily |
| Applications | Daily when Fund is open to applications. |
| Buy/sell spread | Nil |
| Valuations | Valuations of property investments occur twice per year (minimum). |
Investment objectives
The Fund aims to provide investors with stable income returns and the potential for capital growth by investing in a diversified portfolio of high-quality Australian agricultural real estate.
Investment approach
The Fund seeks to invest in high-quality agricultural properties leased to reputable operators based on strong lease covenants. It targets properties and tenants with strong Environmental, Social and Governance (ESG) credentials operating in higher revenue producing sectors such as protected cropping, infrastructure and agri-logistic facilities.
The preferred approach is not to operate agriculture asset directly, rather to act as a landlord and target assets that have experienced and well credentialled operators who have often made a significant investment in the infrastructure on the property.
Over time, the Fund aims to invest across a range of agricultural properties to provide diversifications by property, geographic location, agricultural sub-sector and tenant mix.
Risks
All investments in unlisted property funds carry risk. As the Fund invests in commercial agriculture property it carries the market and property risks associated with investing in this sector, including climate and environmental risks. As a geared investment, the Fund also carries associated financial and leverage risks. Risks can impact on distribution and capital returns over the term of the Fund. It is important that you read the Product Disclosure Statement and understand the risks of investing.
Risks associated with the agriculture sector
Centuria acknowledges that agricultural properties are subject to additional risks when compared to other commercial real estate investments due to its exposure to environmental and climate factors. However, the group will seek to mitigate these risks as much as possible through the due diligence process when reviewing investment opportunities by identifying assets that feature protected cropping, access to water rights and a focus on sustainability.
Portfolio snapshot
As at 31 December 2023
4 assets
with a $351m portfolio valuation
100%
occupancy
17 year
weighted average
lease expiry (WALE)
90.5 ha
protected
cropping
Property assets
The properties within the portfolio produce crops for domestic and foreign markets and have long-standing relationships with major fresh produce retailers across Australia including Coles, Woolworths and Harris Farm. Read more about the current investment portfolio.
Performance, pricing and distributions
Performance
Fund performance (as at –)
–
Fund inception date is 20 July 2022.
Annualised total return figures reflect compounded monthly returns generated from both capital and income (including reinvestment). Annualised income returns are presented as the sum of the monthly income returns. The returns presented are reflective of any performance fees paid. Returns of less than one year are not annualised. Past performance is not a reliable indicator of future performance.
Fund unit price (as at –)
Fund distributions
–
cpu = cents per unit.
Request a PDS
Express your interest in the Centuria Agriculture Fund to receive a Product Disclosure Statement (PDS).
How to invest
As an investor, you can invest directly with us (refer to PDS) or via an investment platform if you have a financial adviser. The Fund is currently available on the following investment platforms:
- Netwealth (IDPS and Super)
- Hub24
- Xplore
- Powerwrap
- Praemium
- Uxchange.
Centuria agriculture podcast series
Find out more about agriculture and agriculture property investing with Centuria in our three part series hosted by Senior Relationship Manager, Aidan Whyte.
The information discussed is of a general nature and is not investment advice. All opinions expressed and are the opinions of Andrew Tout, now Head of Agriculture for Centuria as of May 2022.
1. Monthly distribution rate paid for the month of March 2023, annualised. The monthly distribution rate is updated each month and is not a forecast. Past performance is not a reliable indicator of future performance. View the full historical performance.
2. Centuria intends to pay monthly distributions and will be subject to terms set out in the PDS.
3. Distributions will be 100% tax deferred for the next 2 years based on current portfolio.
4. The amount available to meet quarterly withdrawal requests will be up to 2.5% of the Net Asset Value of the Fund. If the aggregate value of withdrawal requests received exceeds the available fund, the Responsible Entity will scale back withdrawal requests on a pro rate basis. Refer to the PDS for full terms on withdrawal and liquidity.
5. Core Property ratings disclaimer: The Core Property rating (assigned in June 2022) presented in this document has been prepared and issued by Core Property Research Pty Ltd (“Core Property”), which is an Authorised Representative ASIC number 1280479 of Core Property Research Holdings Pty Ltd (ACN 633 170 751, AFS License No. 518320) (Licensee), and trading as Core Property. Whilst the information contained in the report has been prepared with all reasonable care from sources that Core Property believes are reliable, no responsibility or liability is accepted by Core Property for any errors, omissions or misstatements however caused. Past performance information is for illustrative purposes only and is not indicative of future performance. The Core Property publication is not and should not be construed as, an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. Any opinion contained in the Report is unsolicited general information only. Neither Core Property nor the Participant is aware that any recipient intends to rely on this Report or of the manner in which a recipient intends to use it. To access the full report, please visit www.coreprop.com.au. The rating is subject to change without notice and Core Property assumes no obligation to update the report.
6. Lonsec Research ratings disclaimer: The rating issued 06/2023 is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. © 2023 Lonsec. All rights reserved.
Disclaimer: Centuria Property Funds Limited ABN 11 086 553 63911 AFSL 231149 (Centuria) is the Responsible Entity for the Centuria Agriculture Fund I (ARSN 653 947 892) (CAF I) and the Centuria Agriculture Fund II (ARSN 653 946 402) (CAF II). Centuria expects to issue a Product Disclosure Statement (PDS) for the Fund on or about 14 June 2022. This information is general information only and does not take into account the objectives, financial situation or particular needs of any person. All investments in unlisted property funds carry risk. As the Fund invests in commercial agriculture property it carries the market and property risks associated with investing in this sector, including climate and environmental risks. As a geared investment, the Fund also carries associated financial and leverage risks. Risks can impact on distribution and capital returns over the term of the Fund. It is important that you read the Product Disclosure Statement and understand the risks of investing.
You should consider whether this information is appropriate for you and consult your financial or other professional adviser before investing. You should obtain and read a copy of the PDS relating to the Fund before making a decision to invest. Centuria and its associates will receive fees in relation to an investment in the Fund as disclosed in the PDS. Investment in the Fund is subject to risk including possible delays in payment or loss of income and principal invested. Centuria does not guarantee the performance of the Fund. You can access a copy of this Fund’s Target Market Determination (TMD) document at: centuria.com.au/ddo/.