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10/11/2014

Victorian vineyard expected to yield up to $4m

A syndicate of investors is selling a 300ha vineyard in central Victoria, with expectations the property could fetch as much as $4 million, according to reports in The Australian.

The Lake Marmal Vineyards were established in 1998, with a grape supply agreement in place with one of Australia’s largest wine producers until 2018.

The vineyard has 172ha of planted grapes, predominantly Shiraz and Cabernet Sauvignon, but also produces Durif, Mourvedre and Sangiovese on a small scale.

The property is being marketed by Chris Holgar, James Beer and Phil Schell of CBRE Agribusiness through an expressions of interest campaign.

Holgar told The Australian the property was a "mature vineyard that had a guaranteed income for the immediate future and potential for future development".

It includes a main residence, cottage, machinery shed, chemical shed, two hay sheds and several workshops.

The property is also located in a favourable climatic region, according to Holgar.

“Central Victoria’s typical dry summer and autumn conditions help promote an optimal growing operation," he added.

"Additionally, this property’s vines never required insecticide applications and only minimum fungicides.”

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