Kingston Estate Wines expands vineyard holdings

Kingston Estate Wines expands vineyard holdings
Kingston Estate Wines expands vineyard holdings

Kingston Estate Wines has snapped up the New Residence vineyard in South Australia's famous Riverland region.

They've acquired the 252 hectare commercial vineyard for an undisclosed amount through Colliers International’s Tim Altschwager and Nick Dean on behalf of Seven Fields.

Located just outside Loxton, the vineyard is planted with around 36.4 percent red varieties and 63.6 percent planted to white.

It was developed in 2001 and planted to 233 hectares with the balance of the land comprising headlands, formed internal roads and shed curtilage.

Tim said they received significant interest from both domestic and international investors and existing wine industry participants.

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,” Tim said.

“The Conundrum vineyard is currently under contract and the Howcroft vineyard was sold to Casella Wines in December 2015."

Nick said the Riverland region was Australia’s largest producer of wine grapes, responsible for approximately 30% of the national grape crush annually.  

“The economic benefit to the Riverland is substantial and in turn sustains the development of the region."

“The Riverland is developing as an entrenched tourist destination, combining proximity to Adelaide with obvious physical charms of the Murray River and its wine and food culture.”

 

Tags: 
Vineyard Rural Sale

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