Murray River Organics’ Fifth Street Vineyard at Merbein West on the market

Murray River Organics have listed their Fifth Street Vineyard on the market. The property boasts 117ha of table grapes.

Fifth street vineyard

THERE are a bunch of reasons why one horticultural property in the Sunraysia district is such a drawcard.

Extensive infrastructure, combined with the ability to produce 1200 tonnes of table grapes suitable for the export market, make it a turnkey operation according to agent Duncan McCulloch, from Colliers International.

Fifth Street Vineyard has been owned for four years by the ASX-listed company Murray River Organics, which is divesting the asset to concentrate on other aspects of their business.

The company bought the table grape operation for $10 million, including that current year’s crop which was valued at more than $2 million.

MERBEIN WEST

FIFTH STREET VINEYARD

PROPERTY table grapes

SIZE 117ha

SALE expressions of interest close April 2

PRICE more than $7.5 million

AGENT Colliers International

CONTACT Duncan McCulloch, 0417 047 484

Mr McCulloch attributes the attractiveness of Fifth Street Vineyard to a range of factors, not the least of which is the plantings.

“There is an excellent varietal spread including both the crimson and superior seedless varieties, and forecast production for this year is to be about 1200 tonnes from the vineyard,” Mr McCulloch said.

“This is a productive property with the ability to tap into lucrative export markets for table grapes.

“Australian table grapes are recognised as a standout horticultural commodity for export in the fresh fruit and vegetable sector, with more than $500 million exported in 2018/2019.”

Fifth Street Vineyard is a 117ha property at Merbein West, about 13km from Mildura, and 70.6ha of the property has been planted to table grapes.

There is another 21.5ha which can be planted, while the remaining land is used for infrastructure.

That infrastructure comprises a large packing shed (3104 square metres) which incorporates five cool rooms, a large storage area, an area to receive and dispatch grapes, an office with amenities, as well as a large machinery shed and several pump sheds.

The vineyard is watered by a fully automatic drip irrigation system with the irrigation water pumped to a 20-megalitre storage dam. The vineyard can be irrigated in two different shifts for efficiency.