The Carpenters Project is a 300 hectare property located in Pemberton, Western Australia, 3.5 hours south of Perth.
Through a special purpose vehicle (SPV), the property is under a 30-year lease with a further 10 year plus 10 year option to build, own and operate a 300 hectare avocado orchard, which when developed will be one of the largest single avocado projects in Australia.
With approximately 2,500 hectares of current avocado production in Western Australia, this single development has the potential to represent about 10 per cent of WA’s planted hectares.
The land and water resources for the Carpenters Project have been leased by the SPV from Red Moon Property Holdings Pty Ltd (Red Moon), an entity related to the Casotti Group, WA’s largest privately-owned fruit grower, packer and wholesaler.
Having executed the lease agreement, the SPV will now progress with finalising a bankable feasibility study and raise development capital. While Alterra has not provided a parent company guarantee for the SPV's obligations under the lease, Alterra is committing an initial $350,000 to the SPV for working capital purposes including; first two years lease payments and ongoing feasibility costs.
Express interest in the project .