Embattled Duxton list two NSW vineyards for sale

One of Australia’s largest vineyard holders has listed two of its NSW properties for sale weeks after hitting payment strife and sacking 13 staff.

Duxton Vineyards are selling two NSW properties, priced at about $25,000 to $30,000 per hectare.

One of Australia’s largest vineyard holders has listed two of its NSW properties for sale weeks after hitting payment strife and sacking 13 staff.

Duxton Vineyards, headed up by South Australian veteran agri-investment manager Ed Peter, has moved to sell a pair of its NSW properties, which are tipped to generate wide-ranging interest.

Hollands Lake Road and Gol Gol vineyards, located in Coomealla and Gol Gol respectively, have hit the market, offering a combined mass of more than 222 hectares.

Located in southwest NSW about 20km from Mildura, the two properties are planted to Shiraz, chardonnay, merlot, pinot grigio and cabernet sauvignon across a combined 205.64 hectares.

CBRE Agribusiness agents John Harrison and Angus Bills are handling the sale of the two vineyards, with stage one of the two-stage expressions of interest campaign closing on October 16.

Offers of $25,000 to $30,000 per hectare are expected, taking price expectations to about $5.5 million inclusive of associated delivery entitlements, with the plant and equipment to be negotiated throughout the sale process.

Duxton Vineyards are selling the Hollands Lake Road and Gol Gol vineyards, located at Coomealla and Gol Gol.

“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,” Mr Bills said.

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

Duxton Vineyards, founded in 2015, owns and operates 2400 hectares 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.

The Gol Gol and Coomealla properties, in the Western Murray Irrigation trust area, are for sale in one line or as individual properties.

The properties are for sale with 1592 delivery entitlements, with each of the vineyards spanning deep red sandy loams soil types over limestone and clay.

There are a total of 16 certificates of title, with property improvements including two dwellings, three machinery sheds, an office and sundry shedding.

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