Four Barossa vineyards sell to local buyers
Four neighbouring Barossa Valley vineyards have sold for a total of $2.28 million to three separate local buyers.
St Vincent vineyard, Tschirpig vineyard, Augusta Grenache vineyard and Augusta shiraz vineyard in the Krondorf district were marketed for sale both separately and in one line. Together they formed Russell Vineyard.
St Vincent has 14.3 hectares of vines, including 9.9 hectares of shiraz vines, on 20.94 hectares of land. It sold along with Tschirpig, which has 2.5 hectares of shiraz vines on 8.67 hectares of land, for $1.5 million.
The Augusta shiraz block has 1.7 hectares of shiraz vines on 2.364 hectares of land and includes an old stone cottage and shedding. It sold for $330,000.
The Augusta Grenache block has 1.7 hectares of grenache vines on 6.216 hectares of land. It sold for $450,000.
They were sold by Colliers agents Jesse Manuel, Tim Altschwager and Nick Dean.
Altschwager says there was international interest in the property.
“We had a lot of interest in it from the whole market really including some overseas Chinese but at the end of the day the strongest guys were the locals. It’s showing there’s a bit more confidence in the market here,” Altschwager told Property Observer.
He says the property market in the Barossa didn’t soften as much as other parts of the country.
“The Barossa wasn’t affected as drastically as some of the other areas because it’s probably the best recognised region in Australia and from overseas,” Altschwager said.
Krondorf is home to labels including Grant Burge Wines, Charles Melton Wines and Rockford.
The properties were sold by John and Rosalind Russell who moved to the Barossa in 1990 to create the Barossa Music Festival and started making wines in 1994.
They will not be managing the properties.
The vineyards are part of several around the country that has been offered recently.
In August we reported Zhi Jian Zhou and Ou Guo Ying from Amway China bought a Hunter Valley vineyard for $3.8 million.
