Blackwattle, Russell Road, West Cape Howe, Hay Shed Hill: WA farms and vineyards hit the market in $150m offering

The biggest vineyard in Western Australia and more than 5000ha of mixed farmland have been listed for sale, with offers of $130-$150 million expected.

A consortium of Western Australian families have listed the historic Blackwattle farm, seven vineyards and two wineries for sale.

The biggest vineyard in Western Australia and more than 5000ha of mixed farmland have hit the market in a major nine-figure offering.

A consortium of Western Australian families have listed the historic Blackwattle farm, seven vineyards and two wineries for sale, including two Halliday Five Red Star-rated wineries in the state’s Margaret River and The Great Southern regions.

The aggregation is initially being offered in one line with a price guide of $130-$150 million as a whole, via an expressions of interest campaign ending March 28, 2024.

Seller and consortium spokesman Rob Quenby said they made their initial investment into the WA viticulture industry about 30 years ago.

“In terms of the West Australian wine industry, we have geographical climatic diversity in Margaret River, Frankland River and Mount Barker, and we’ve got one facility where we make wine which is large enough to be efficient and commercial,” Mr Quenby said.

The 5066ha Blackwattle farm has ben offered as part of the mixed agriculture and viticulture portfolio.

“We have a presence in Margaret River which is world renowned, and probably produce about 7 to 8 per cent of Western Australia’s grapes so we have a significant foothold in the premium West Australian grape growing region.”

Ray White Rural WA agent Steve Vaughan said he was expecting both domestic and international corporate buyers to show the most interest.

“Initially we are hoping to achieve selling the portfolio as one so we are expecting interest from both overseas and Australian corporate investors,” Mr Vaughan said.

“However, we are also open to splitting the wine assets, and that will appeal to particular people in the wine industry across Australia including retail.

“The Blackwattle farm is going to probably appeal more to the agricultural sector and again the agricultural corporate sector, but also individual large farming operators.

“We’ll certainly consider all options and encourage buyers to put offers on the table for sections of the property as sometimes the sum of the parts can be greater than the whole. We will look at whatever comes in.”

West Cape Howe has 104ha under vine and capacity to process 5000 tonnes of wine in WA’s Mt Barker region.

The largest viticultural asset in the portfolio is Russell Road which has 226ha under vines and 14 varieties, making it the biggest single vineyard in the state.

Hay Shed Hill, at Wilyabrup in the Margaret River region, has 18ha under vines and includes the renowned Rustico restaurant, the 42ha Jindawarra vineyard and the 44ha Sirens vineyard.

West Cape Howe is also offered as part of the aggregation, which has 104ha under vine with nine varieties and capacity to process 5000 tonnes of wine in the Mt Barker region.

Finally, the 5066ha Blackwattle farm is also included in the offering, which comprises 3723.4ha or 73 per cent arable farmland.

Acquired by the owners in 2013, the aggregation has been expanded with the acquisition of three adjoining or nearby properties.

In recent seasons the property has conservatively carried a 7000 ewe flock and followers. There are also about 1000ha cropped to canola and another 1000ha cropped to wheat, barley, and oat varieties.

Last month three expansive Western Australian farms in the state’s southeastern regions were sold in separate deals worth a combined value of about $50 million, while the buyer of 12,000ha aggregation sold earlier this year has also emerged.