Chinese buyer swoops on Red Cliffs table grape farm

A tightly held family farm near Mildura has been sold to a foreign buyer in a deal worth millions.

A Chinese buyer has purchased a table grape property at Red Cliffs, in the Sunraysia.

A foreign-based buyer has swooped on a tightly held table grape farm in Victoria’s Sunraysia, as Chinese export difficulties squeeze producers.

Located at Red Cliffs, 15 minutes south of Mildura, an established farming family has sold their 54ha table grape enterprise in a walk-in walk-out deal worth about $9 million.

It is understood a Chinese-based private company has purchased the property.

Australia’s table grape industry is worth $300 million a year, with China buying 44 per cent of Australia’s exported table grapes.

One of the nation’s biggest table grape producers, Fruitico, said in 2021 Chinese officials were making exports to the country “unviable” after unofficial bans, similar to the way Australian lobsters were treated.

In May 2021, the Australian Table Grape Association (ATGA) estimated the export delays could cost growers and exporters up to $40,000 per container.

However, political tensions between Australia and China have begun to thaw this year with some signs Australia’s exports prospects for goods such as wine, beef, timber, lobster and cotton are improving.

The 54ha Red Cliffs table grape farm was sold in a $9 million walk-in walk-out deal.

It is understood the Chinese buyer has purchased the property to pair it with their export market links.

Professionals Mildura Real Estate director Tony Roccisano handled the sale and said table grape property values were delicately positioned.

“Australia exports much of its table grape produce to China and other markets. The demand for these types of properties depends on exports and access to these markets,” Mr Roccisano said.

Held in three parcels of land each with their own irrigation infrastructure, the Red Cliffs property was planted to 46.22ha of Crimson Seedless and 5.67ha of Sweet Sapphire grapes with trees at the property ranging from five to 19 years in age

Included in the walk-in walk-out sale was the 238.4ML of high security water, 443.4ML annual use water licence and last year’s crop.

Improvements at the property include four homes, headlined by a six-bedroom family residence, a 1295 sqm packing shed with loading dock and three cool rooms, machinery shedding, office space and staff amenities.