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McWilliam's vineyards sold to Chinese buyer
2015-02-06
Brief:The McWilliam family has sold three vineyards - across NSW and SA - to Hong Kong-listed group CK Life Sciences for $15.7 million in a sale and lease back arrangement.
vineyards
 
McWilliam’s Hanwood Estate winery will remain the home with its family history under leasehold.

The other vineyards sold were The Station and Kirkgate in South Australia, The Land reports.

Over 135 years, McWilliam’s has championed New South Wales wines and today sources fruit from a variety of regions beyond the Riverina, including Hilltops, Tumbarumba, and Orange. Last year McWilliam's Wines Group returned to 100% family ownership.

CK Life Sciences has agriculture-related businesses in Mainland China and Australia.

In Australia, CK Life Sciences is the largest supplier of turf management products and services as well as the second largest supplier in the home garden products industry.

The group is the second largest vineyard owner in Australasia and also the largest producer of salt for the domestic market in Australia.

The three vineyards in Margaret River comprise the Old Land Vineyard, the Rowe Road Vineyard and the Lionels Vineyard. Located in a premium wine-growing region three hours south of Perth in Western Australia, these three vineyards cover a total area of approximately 300 hectares.

A majority of the vineyards in CK Life Sciences’ portfolios are committed to long-term leases with major Australasian wine companies.

McWilliam has been selling holdings with its 2013 sale of the Hunter Valley investment, the $1.5 million, 29 hectare Middle Creek vineyard negotiated by Jurd’s Real Estate, Cessnock.

Colliers International suggest the lower Australian dollar and low interest rates would encourage more agribusiness to follow the McWilliams family into selling their property assets and leasing them back.

smartcompany.com.au
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