Herbert Smith Freehills Kramer advises Centuria on its purchase of the Southern Hemisphere’s largest glasshouse

Herbert Smith Freehills Kramer (HSF Kramer) has advised Centuria Capital Group (Centuria) on the A$168 million acquisition of the largest glasshouse facility in the Southern Hemisphere via one of its unlisted agriculture funds. This landmark transaction increased Centuria’s agriculture real estate platform by 25%.

The 43-hectare hydroponic facility in Two Wells, South Australia, was acquired from Fresh Country Farms of Australia and is operated by Perfection Fresh, one of Australia’s largest privately owned fresh produce companies. The facility comprises five glasshouses, includes advanced irrigation infrastructure, an onsite power plant, several dams and associated production line infrastructure to support year-round production. Perfection Fresh will continue to operate the facility with a 17.4-year triple net lease secured (as at 30 September 2025).

The HSF Kramer team was led by Sydney Real Estate Partner, Andrew Leadston. Andrew was supported by cross-sector team made up of Competition, Regulation and Trade Partner, Patrick Gay, Senior Associate, Claudia Marcellos, Solicitors, Ganeshmoorthy Chandrasekaran and Zoe Feldman and Graduate, Chloe Matthews. 

“This transaction represents the growing investment in alternate asset classes in the Australian real estate sector,” said Andrew Leadston, Partner at HSF Kramer. “It has been a pleasure to work with Centuria to deliver a deal that sets a new benchmark for agri-infrastructure investment in Australia.” 

This deal is the latest example of HSF Kramer’s market-leading work in the real estate sector. Other recent examples include the firm advising: 

• Keppel REIT on its acquisition of Top Ryde City Shopping Centre, Sydney 
• TrustCapital Advisors on its acquisition of 750 Collins Street, Melbourne 
• Lendlease on its partnership with Nippon Steel Kowa Real Estate to deliver a build-to-rent apartment development at 899 Collins Street, Docklands