SEVEN FIELDS SELLS THREE VINEYARDS IN SOUTH AUSTRALIA

Written on the 3 August 2016

SEVEN FIELDS SELLS THREE VINEYARDS IN SOUTH AUSTRALIA KINGSTON Estate Wines has acquired the 252ha New Residence vineyard in South Australia's Riverland region for an undisclosed amount in a deal negotiated by Colliers International's Tim Altschwager and Nick Dean on behalf of Seven Fields.

New Residence Vineyard is just outside Loxton (pictured), with about 36.4% of the vineyard planted to red varieties and 63.6% planted to white varieties. The vineyard was developed in 2001 and planted to 233ha with the balance of the land comprising headlands, formed internal roads and shed curtilage.

"We received significant interest from both domestic and international investors and existing wine industry participants who were looking to secure or significantly strengthen their position in the Australian wine industry," says Altschwager.

New Residence vineyard was one of three large commercial vineyard investment properties managed by Seven Fields that were put to market through Colliers International.

"The portfolio also included the Conundrum vineyard in the Riverland region and the Howcroft Estate vineyards in the Bordertown wine region," Altschwager said. "The Conundrum vineyard is currently under contract and the Howcroft vineyard was sold to Casella Wines in December 2015.

Dean said the Riverland region was Australia's largest producer of wine grapes, responsible for about 30% of the national grape crush annually.

Seven Fields is an Australian, family-owned company that grows, packs, and markets premium fresh produce. As well as owning and operating its own farms, Seven Fields is also a service provider to owners of other agribusinesses.

Latest News

STAFF CHURN BLAMED FOR MCGRATH EARNINGS DOWNGRADE

MCGRATH will fail to meet earnings forecasts after some of its star real estate agents defected to growing Perth firm...

MCBAIN RESIGNS AS BELLAMY'S DIRECTOR WHILE THIRD CLASS ACTION MOVES CLOSER TO SECURING FUNDING

LAURA McBain (pictured) has resigned as a director of Bellamy's Organic (ASX: BAL) today, effective immediatel...

REDBUBBLE TO MISS IPO FORECASTS

REDBUBBLE, the online marketplace for independent artists, will miss a series of forecasts set out in its IPO in its ...

BLUESCOPE CONTINUES STRONG RUN WITH GUIDANCE UPGRADE

BLUESCOPE Steel (ASX: BSL) is trading up 7.51 per cent at $11.16 per share after upgrading its half-year guidance thi...

Related News

CARSALES CEO RETIRES AS NEW COMPETITOR COX FINALISES MERGER

CARSALES will have a new CEO as it takes on a fresh challenger to its crown as the dominant online car sales portal i...

BUSINESS CONFIDENCE AT A SIX-YEAR HIGH

SMALL and medium businesses have entered 2017 with their confidence at a six-year high, building on strong gains m...

CONSUMERS PESSIMISTIC ENTERING 2017

CONSUMER confidence remains at its weakest point since April 2016, according to the latest Westpac Melbourne Institut...

RISE OF STARTUP SUPPORT PROGRAMS NOT AS ROSY AT IT SEEMS

ENTREPRENEURIAL cultivation companies in Australia are appearing quickly, but questions have been raised about whe...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter