Kangaroo Island marron farm attracts Chinese investment
A Chinese government-backed investment group has bought a 289 ha aquaculture and tourism property on Kangaroo Island off South Australia.
Andermel, home to Andermel Marron Farm, The Marron Café and Two Wheeler Creek Wines, was sold to Shandong Geo-mineral International Investment Co Ltd for more than $1.6 million through Colliers International's Jesse Manuel and Tim Altschwager.
Manuel said the Heads of Agreement for the sale was signed during the South Australian Premier’s visit to China in May 2015 and has now settled after an extensive due diligence period.
“This property represented a unique business and lifestyle opportunity in one of South Australia’s most picturesque and popular tourist destinations, Kangaroo Island,” Manuel said.
Kangaroo Island is Australia’s third largest island and one of South Australia’s most popular tourist destinations, located 112 km south-west of Adelaide and around 15 km off the mainland.
Projects worth $171 million are planned or approved for Kangaroo Island over the next few years, including an $18 million joint investment by the state and federal governments to extend the island’s airport runway and allow direct flights from Sydney and Melbourne.
Established in 1997, Andermel Marron Farm is a marron production business which consists of six breeding ponds, nine nursery ponds and 52 grow ponds. The farm breeds and grows marron – native Australian freshwater crayfish – for domestic markets as well as through the onsite ‘Marron Café’ restaurant and farm gate sales.
Australian marron is native to the south west of Western Australia and is the largest commercially grown fresh water crayfish.
The property also includes an 8 ha vineyard planted to Shiraz, Cabernet Sauvignon, Sauvignon Blanc and Chardonnay, producing fruit for Andermel’s own ‘Two Wheeler Creek’ label and a licenced cellar door.
Altschwager said Kangaroo Island was renowned for its pristine beaches, native wildlife, tourist attractions and fresh local produce.
