Stahmann Webster sell Swansea Farm to Fogarty Wine Group

A family-run premium wine company has swooped on a 1048ha property on Tassie’s east coast, securing it in an eight-figure deal.

An operating partner of the giant Canadian superannuation fund, PSP Investments, has offloaded a 1048ha farm located on the east coast of Tasmania.

Stahmann Webster has sold its Swansea Farm, a large-scale viticultural and horticultural property offered with almost 4000ML of water entitlements, with an Australian, family-run premium wine company swooping on the property.

It is understood the property has been sold to the Fogarty Wine Group in a deal worth a figure in the vicinity of $25 million.

Launched in 1996, the WA-based winemaker is run by the Fogarty family, headed by Peter Fogarty, his wife Lee and their three children, John, Mark and Anna.

Almost 30 years later the Fogarty Wine Group portfolio comprises nine premium wine brands from six different regions of Australia including Dalwhinnie in Victoria’s Pyrenees region and Lake’s Folly in the NSW Hunter Valley.

In WA they own Deep Woods Estate and Evans & Tate in the Margaret River region, Millbrook Winery in the Perth Hills and Smithbrook in Pemberton.

In recent years they have also expanded to become the second largest vineyard owner in Tasmania including properties at Lowestoft and Tasmanian Vintners.

It is understood the Swansea Farm transaction was signed in December and will be completed following the end of the 2024 walnut season in the coming months.

Stahmann Webster have sold their 1048ha Swansea Farm to Fogarty Wines Group.

The property has predominantly been planted to walnuts, with 22ha planted to pinot noir and pinot gris wine grapes in 2020.

A further 520ha have been independently surveyed and are suited for cool-climate wine grape production.

Located 3km northwest of Swansea and 100km southeast of Launceston, Swansea Farm is established in one of Tasmania’s premier cool-climate wine growing areas.

It is understood Stahmann Webster had used the Swansea property to grow walnuts, which is increasingly concentrated in the NSW Riverina.

Attached to the Tasmanian property was significant irrigation water including 3735ML Wye River (Surety 5 Winter Take) and 310ML Swan Valley Irrigation Scheme water entitlements.

LAWD senior director Danny Thomas and director Elizabeth Doyle handled the sale but did not comment on the transaction.

The superannuation fund of Canada’s public service, armed forces and the world-famous Royal Canadian Mounted Police, PSP Investments has become the largest foreign investor into Australian agricultural building a portfolio worth about $6 billion.

Part of that portfolio is Stahmann Webster, the former ASX-listed irrigated farming and water business, known as Webster Limited, acquired by PSP Investments in 2019 for $854 million.