19th January 2018 at 1:25 pm #47897CreteannaParticipantMember since: 4th December 2009
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FOR SALE, LIFESTYLE!
We are selling our olive groves, our “Great Taste Gold” award winning olive oil brand, our small existing export business with great potential, all the equipment and introductions needed, practical lessons in olive farming… plus two beautiful building sites.
Fancy a complete change of lifestyle?
Situated close to a small village 20 minutes from Sitia, East Crete, commanding wonderful and sublime views of valleys, mountains and distant views of the sea, we have organically farmed our olive groves for 12 wonderful years and now, reluctantly, seek to pass them on so that we can move closer to our grandchildren.
What’s on offer?
We are selling c.40 ‘strema’ (40,000 square metres, around 10 acres) of easily accessed and reasonably easily worked olive groves, home to around 800 trees of varying ages (from c.18 years old to c.200 years old). The work can sometimes be hard, but is not constant and there is almost nothing to do from March to October. If required we can make introductions to people who can do the work for you.
The trees and groves are in good order and haven’t seen a chemical in 12 years. For the last eight years we have returned the trees to their natural condition by not irrigating (though all the pipes are still in place). The trees’ roots have ‘found the water’, as the old farmers told us they would, and have survived a drought year with no ill effects whilst saving us c.600 euro a year in irrigation costs (and a huge amount of effort!)
Two of our groves are eminently suitable for housebuilding and will readily gain planning permission for houses up to 250 square metres each and both are close to both water and electricity supplies. For purchasers we can make introductions to trustworthy engineers/architects for building. Alternatively, or while you wait for building, you may choose to rent for a year or two. We rent our lovely two-bed stone cottage in a small village overlooking the sea for 250 euro a month. This will be vacant once we sell our olive groves……
Included in the selling price is all of the equipment necessary to work the groves, including our old but reliable 4×4, and instructions in their use.
Included in the price is 5 years winters’ worth of cut and seasoned olive wood. Fires are needed for the months of December to March, usually only when the sun has set. So: NO HEATING BILLS for 5 years!
We will devote two weeks or longer if needed to share what we have learned about olive farming with the buyer, including practical lessons, safety advice, introductions to all the people you might need, from the staff at olive presses to the guys that fix things if they break. (I.e. all the stuff we wish we’d had 12 years ago!)
In 2009 we won a Gold “Great Taste Award” in the UK for our oil under our “Saint Spiridon” brand. Included in the sale are this brand and labelling design. Most years we sell organic olive oil to both Canada and Germany under this brand. We will pass on this nascent business and make introductions to our past customers. We are not much in the way of businesspeople and suspect a more switched on person could develop this opportunity much, much further. We will make introductions to the people from whom we buy oil and the folks at the presses and bottling plant (English speakers all) to facilitate this process and give the buyer a great start.
The groves will produce olives most years (rarely there comes a year when there is no harvest).
Harvests can range between half a tonne to three tonnes (c.3,000 litres) of olive oil per year.
We hope to produce around two tonnes in 2018.
This will sell at the press for around 3.25 euro per kilo.
Therefore the 2018 total expected returns from the groves are 1400 grant, plus 6,500 from oil. (7,900 total), plus an unknown amount from the Saint Spiridon business.
Additionally, the groves qualify for a European grant of 1400 euro annually (rising).
This alone compares favourably with current bank interest rates.
We will take the buyer through the process of applying for the grant (now very easy) and make the right introductions (again, English speaking staff).
With bank interest rates for savers continuing to offer minimal returns of around 1.3%, and with investor nervousness abounding since the change in EU regulations our olive groves and export business offer much greater returns and greater security than bank deposits.
All inclusive price for quick sale: 125,000 euro.
Contact: Peter and Anne Westwood
(0030) 28430 29327
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