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.  

Soothe your soul with the sounds of Velour

Velour holds their workshop Blend before their show with Ryan Innes at the Pelican Playhouse in South Grafton.

See Velour tonight at the Pelican Playhouse

Clancy concerned about Wooli beach scraping

Diagram of how beach scraping will help rehabilitate Wooli Beach.

Council, CCPA to fund beach scrapping

Police appeal for information to locate a missing man

NSW Police area appealing for information on missing man Dallas Albury.

Police are appealing for a missing man from the state north

Local Partners

Fires burn throughout the Clarence Valley

An out of control fire has threatened properties in the Clarence Valley over night

A murder mystery to challenge Midsomer's

Dan Fahey, centre, as Lt. Frank Cioffi with some of the cast of Curtains. The Criterion's latest production opens tonight and runs across two weekends.

Curtains is an comic romp from the creators of Chicago and Cabaret

12 things to do this week

Cast of Curtains, the new show at the Criterion Theatre in Grafton.

There's plenty on this week in the Clarence Valley

Third time lucky for memorial day

REMEMBRANCE: Loved ones and fellow truck drivers will come from as far as Sydney and Queensland to remember those who have lost their lives on the roads at the Grafton Truck Drivers Social Club Memorial Wall Service on Saturday.

Truck drivers memorial service scheduled for this Saturday

What's on the small screen this week

JESSICA Marais returns in The Wrong Girl and The Block's kids bedrooms are sure to inspire.

Playing Tom Cruise's wife was a dream for Sarah Wright

Tom Cruise and Sarah Wright in American Made.

The actress stars opposite Cruise in the action comedy

Taylor Swift wipes presence off social media

Singer Taylor Swift has deleted her social media accounts

Social media wipeout prompts rumours of a new album

Swedish TV drama turns up heat

Louise Nyvall stars in the Swedish TV series Farang.

Scandinavian crime thriller goes troppo

Aboriginal artists' call to action

Anwar Young, winner of this year's overall prize and last year's young artist prize.

Important messages of survival and healing

Radio host Matt Okine leaps to small screen

Valene Kane, Matt Okine and Harriet Dyer star in the TV series The Other Guy.

First foray into acting a long time in the making

Hollywood’s new highest paid actress

Jennifer Lawrence had to settle for third this year behind Emma Stone and Jennifer Aniston.

CAN you guess who has dethroned Jennifer Lawrence?

PROPERTY BOOM: Is it a good time to buy in the Clarence Valley?

Sold On magazine inserted into The Daily Examiner on Wednesday, 23rd August, 2017 provides an in-depth property market analysis and profile of each suburb in the Clarence Valley.

Sold On is the essential Clarence Valley property market handbook

199 home sites approved in Evans Head

The Evans Head Manufactured Home Estate plans. Zoran Architecture.

Manufactured Home estate approved near aerodrome

Airbnb, Stayz and co tipped to squeeze Coast housing market

HOLIDAY BOOM: Airbnb letting is putting a further squeeze on long-term rentals.

Councils exploring options to manage the industry

Developer tears up couple's contract for new home

Jade and Edward Roberts were stung by the sunset clause on the first day of their honeymoon.

The developer has the right to do this under the sunset clause