You're of course correct, the lessee of the sheds is RFM Poultry. So now it seems the lessee RFP does repairs to sheds owned by RFF, otherwise the owner of the chooks (Baiada) will not place them in the sheds to grow. This would mean no growing fees are receiveable to RFP.
Forecasted rent revenue FY19 is $10.7M to RFF (16% of RFF revenue)."The poultry growing farms are located in Griffith, New South Wales, and Lethbridge, Victoria. There are 17 farms in total, consisting of 154 sheds aged between 8 and 32 years. As at 30 June 2018 the poultry farms were valued at $80.8 million.
The farms are leased to RFP which operates the farms in accordance with chicken growing contracts with Bartter Enterprises Pty Ltd and Turi Foods Pty Ltd."
You're of course correct, the lessee of the sheds is RFM...
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