McLaren Vale vineyards sold for $10 million

McLaren Vale vineyards sold for $10 million
McLaren Vale vineyards sold for $10 million

Three vineyards with 102 hectares of vines on California Road in South Australia's McLaren Vale have sold for $10 million.

Knight Frank rural agent Russell Iles brokered the deal that achieved close to $40,000 an acre [$100,000 per hectare].

The district's last big sale was when the Conte family sold their long-held premium vineyards on California Road and Bayliss Road near Aldinga to fellow McLaren Vale winemaker Dowie Doole last year for $1.9 million. The 53-hectare property has 35 hectares of vines.

McLaren Vale is regarded as one of Australia's most prestigious wine districts.

South Australia is responsible for almost 80 per cent of Australia's premium wine. 

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Mclaren Vale Winrery

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