THE sole-asset Agricultural Land Trust, owner of the iconic Linkletter’s Place property in Western Australia’s Esperance, is continuing prepare the site for remediation with the absence of rental income.
It posted a net income of $0.58 million for the 2018 financial year, after a loss of $1.44 million last year.
The profit included the asset revaluation of $1.78 million, taking the book value of Linkletter’s Place to $21.88 million.
Trust chairman, Justin Epstein, said once the remediation works are completed, opportunities for sale of leasing would be assessed.
It has also entered into an agreement for the harvesting of plantation trees on Linkletter’s Place, which is expected to result in around $400,000 of net income per annum.
Australian Property Journal
