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Medicinal cannabis farm sale to be first of kind in Australia
Jarrad Bevan | 06 JULY 2022
A NORTHERN Midlands medicinal cannabis production enterprise has hit the market and already piqued the interest of buyers worldwide. The 44ha facility at Cressy, 30-minutes south of Launceston, has been offered up by ASX-listed company ECS Botanics. From the property and its Victorian site, ECS manufactures medicinal cannabis products supplying domestic and overseas markets. The team at CBRE Agribusiness is not aware of any cannabis farms having ever been sold in Australia. CBRE Agribusiness director Matt Childs described the Cressy property as a “remarkable turnkey asset” on the back of ECS’s many years of research and development in its industry. He said the sale presented a rare opportunity to secure a new facility and medicinal cannabis compound, with all of the supporting infrastructure, allowing a new operator to “continue production from day one”.
The fully permitted and licensed enterprise is currently a low THC facility, set on 44.62ha providing space and infrastructure to support future expansion. It has 64mL per annum of water entitlements, with direct access to the Cressy Irrigation Channel. It is secured with appropriate fencing and features a CCTV monitored security system with scan entry.
A new main switchboard and three-phase transformer were recently installed as part of a power upgrade. The site has offices, staff facilities, a manufacturing shed, drying rooms, dehumidifiers, a lab room, and a Class 2 equivalent bank vault.
An original shearing shed with sheep yards, machinery and hay sheds, timber horse stables, and a three-bedroom home are also in situ. Mr Childs said the facility was currently licensed to produce tons of organic medicinal cannabis annually and would require “very little capital expenditure” to become a high THC enterprise. The property’s expressions of interest campaign will close on August 3.
Source: realestate.com.au
Jarrad Bevan | 06 JULY 2022
A NORTHERN Midlands medicinal cannabis production enterprise has hit the market and already piqued the interest of buyers worldwide. The 44ha facility at Cressy, 30-minutes south of Launceston, has been offered up by ASX-listed company ECS Botanics. From the property and its Victorian site, ECS manufactures medicinal cannabis products supplying domestic and overseas markets. The team at CBRE Agribusiness is not aware of any cannabis farms having ever been sold in Australia. CBRE Agribusiness director Matt Childs described the Cressy property as a “remarkable turnkey asset” on the back of ECS’s many years of research and development in its industry. He said the sale presented a rare opportunity to secure a new facility and medicinal cannabis compound, with all of the supporting infrastructure, allowing a new operator to “continue production from day one”.
The fully permitted and licensed enterprise is currently a low THC facility, set on 44.62ha providing space and infrastructure to support future expansion. It has 64mL per annum of water entitlements, with direct access to the Cressy Irrigation Channel. It is secured with appropriate fencing and features a CCTV monitored security system with scan entry.
A new main switchboard and three-phase transformer were recently installed as part of a power upgrade. The site has offices, staff facilities, a manufacturing shed, drying rooms, dehumidifiers, a lab room, and a Class 2 equivalent bank vault.
An original shearing shed with sheep yards, machinery and hay sheds, timber horse stables, and a three-bedroom home are also in situ. Mr Childs said the facility was currently licensed to produce tons of organic medicinal cannabis annually and would require “very little capital expenditure” to become a high THC enterprise. The property’s expressions of interest campaign will close on August 3.
Source: realestate.com.au
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