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Perth wholesale market sold to horticulture industry for $135.5 million

PERTH’S wholesale fruit and vegetable market has been sold to the horticulture industry-based consortium Perth Markets Limited.

In what has been a major cornerstone investment, West Australian Treasurer Mike Nahan announced on Friday that Perth Markets – an industry consortium led by the Chamber of Fruit and Vegetable Industries in WA – would purchase the Canning Vale site, which would continue to operate as WA’s primary trading centre for fruit and vegetables.The sale of Market City, currently managed and owned by the Perth Market Authority, is the first asset to be sold in the state government’s asset sales program.

Perth Markets Limited’s other investors include fruit and vegetable growers, wholesalers, tenants of Market City and the South Australian Produce Market.

Brisbane Markets Limited, which operates on a similar system, chair Tony Joseph said the move would enable the sector to control its own destiny and build a stronger future.

Source: http://www.weeklytimesnow.com.au/agribusiness/horticulture/perth-wholesale-market-sold-to-horticulture-industry-for-1355-million/news-story/8518af91cdbd643fad7ad9e5962a0c01