McLaren Vale vineyard sold for $10m
By Andy Young
A 252-acre vineyard, comprising three separate vineyards, has sold in McLaren Vale’s ‘dress circle’ for $10m.
The deal was completed in a single transaction by Knight Frank, who said the deal demonstrates the growing domestic and international demand for premium South Australian vineyards.
Knight Frank’s Associate Director, Agri Business, South Australia, Russell Iles brokered the deal and said the sale was significant for the region.
“We’re noticing a growing demand for vineyards with a track record for high-quality production. South Australian wineries are renowned for consistently producing at the highest standard, and as such, they attract investors, both locally and from overseas," Iles said.
“At $10m, the sale achieved close to $40,000 an acre which is an excellent result. It’s a significant win for McLaren Vale and really sets the bar for future transactions.”
The well-established vineyard was described as being in excellent condition and is home to premium-grade fruit with a particular focus on Shiraz and Cabernet Sauvignon, although there is also “an attractive supply of in-demand alternate varieties”.
Although details of the successful buyer have not yet been revealed, Knight Frank did say that the vendors “are very pleased with the result”.