Centuria Boosts Agriculture AUM by 25% with $168m Hydroponic Glasshouse Acquisition

Strategic Expansion in Agriculture Real Estate

Centuria Capital Group (ASX, CNI) has made a significant stride in its alternative real estate strategy by acquiring Australia’s largest hydroponic glasshouse facility. The $168 million off-market deal, secured from Fresh Country Farms of Australia, marks a notable expansion of Centuria’s agriculture assets under management (AUM), lifting it by 25% to $820 million since the start of the 2026 financial year.

The facility, located in Two Wells, South Australia, spans 166 hectares and includes five glasshouses covering 43 hectares, alongside extensive infrastructure such as storage and evaporation dams, a packing shed, and an onsite electrical generating plant. This infrastructure supports year-round production of premium snacking tomatoes, baby cucumbers, and other vegetables, positioning the asset as a key player in Australia’s fresh produce supply chain.

Long-Term Lease with a Leading Operator

Perfection Fresh, one of Australia’s foremost fresh produce suppliers, operates the glasshouse under a 17.4-year triple-net lease. This arrangement provides Centuria with a stable and predictable income stream, enhancing the resilience of its agriculture portfolio. The lease’s length and triple-net structure underscore the asset’s appeal as a long-term investment, aligning with Centuria’s strategy to seed alternative real estate classes that offer both growth potential and income security.

Jason Huljich, Centuria’s Joint CEO, emphasized the deliberate nature of this expansion, highlighting the growing investor appetite for real estate assets linked to sustainable and essential industries such as agriculture. The acquisition not only diversifies Centuria’s portfolio but also taps into the rising demand for premium-quality fresh produce, supported by innovative hydroponic farming techniques.

Portfolio Growth and Performance

Following this acquisition, the Centuria Agriculture Fund (CAF) now holds six assets with a combined portfolio value of $600 million, boasting a weighted average lease expiry (WALE) of 16.2 years and full occupancy. The fund’s performance remains robust, delivering an 11.4% total net return over the 12 months to September 2025 and an annualised 5.95% return since its inception in July 2022.

CAF offers investors monthly distributions, with a current annualised rate of 6.25 cents per unit, and maintains daily unit pricing alongside quarterly limited withdrawal options. The fund’s minimum entry investment stands at $10,000, making it accessible to a broad range of investors seeking exposure to agriculture real estate.

Implications for Centuria and Investors

This acquisition reinforces Centuria’s position as a specialist investment manager with a growing footprint in alternative real estate sectors. By integrating Australia’s largest hydroponic glasshouse into its portfolio, Centuria not only enhances its agriculture AUM but also strengthens its income base with a high-quality tenant and a long-term lease structure.

Investors should watch closely how this asset integrates operationally and financially within Centuria’s broader portfolio, and whether it sets a precedent for further investments in innovative agricultural infrastructure. The deal also reflects broader market trends favoring sustainable and technology-driven farming solutions, which may become increasingly attractive in real estate investment strategies.