Duxton sell two NSW vineyards

One of Australia’s largest vineyard holders has sold two of its NSW properties after hitting financial strife and sacking 13 staff last year.

One of Australia’s largest vineyard holders has sold two of its NSW properties after hitting payment strife and sacking 13 staff last year.

Duxton Vineyards, headed up by South Australian veteran agri-investment manager Ed Peter, has sold its Hollands Lake Road and Gol Gol vineyards, located in Coomealla and Gol Gol respectively.

Located in far western NSW about 20km from Mildura, the two properties were planted to shiraz, chardonnay, merlot, pinot grigio and cabernet sauvignon across a combined 205.64ha.

In total the properties covered an area of more than 222ha.

Details about the buyer and price of the sales of the Hollands Lake Road and Gol Gol vineyards remains undisclosed due to confidentiality arrangements.

CBRE Agribusiness agents John Harrison and Angus Bills handled the sale of the two vineyards, but declined to comment on the transaction.

Offers of $25,000 to $30,000 per hectare were expected for the properties when they were listed for sale September last year, taking price expectations to about $5.5m inclusive of associated delivery entitlements, with the plant and equipment to be negotiated throughout the sale process.

Duxton Vineyards have sold Hollands Lake Road and Gol Gol vineyards, spanning a combined 222ha-plus.

The properties were for sale with 1592 delivery entitlements, with each of the vineyards on deep red sandy loams soil types over limestone and clay across 16 certificates of title in total.

“Duxton is also offering a grape supply contract to the incoming purchaser, which is a key benefit if they’re seeking to increase their vineyard footprint,” selling agent Angus Bills said when the vineyards were listed for sale.

“We expect interest from current industry participants alongside local producers and groups seeking development opportunities.”

Duxton Vineyards, founded in 2015, owns and operates 2400ha of vineyards across the Southern Murray Darling Region.

Its other properties include a 900ha vineyard at Euston, near Robinvale, a further three properties at Wentworth and the 130ha Avoca vineyard near Pomona, SA.

In August The Weekly Times reported Duxton Vineyards was struggling to pay its creditors, sacked 13 staff and was preparing to rationalise its plantings.

“The continued challenges for the Australian wine industry are well documented and it’s amid this backdrop that Duxton Vineyards has made the very difficult decision of undertaking a necessary restructure of its operations to best position the business for the future,” Duxton Vineyards general manager Wayne Ellis said at the time.