Treasury’s Heathcote vineyards sell for $14 million

Treasury Wine Estates has offloaded 552ha of its vineyard properties in Victoria, with the recent sale of three Heathcote locations pulling in a reported $14 million.

The properties include a combined 434ha of planted vines, and produced “in excess of 4,000 tonnes” of winegrapes a year as stated in property records.

The water allocations of 945ml were not included in the sale, however these were purchased separately for an undisclosed sum, according to The Australian Financial Review.

AFR named Nuveen Natural Capital as the “ag giant” behind the purchase, estimating that Australia contributes “around 13 percent of Nuveen’s $16 billion global farmland portfolio”.

Martin Davies, global head at Nuveen, told AFR that the purchase aligned closely with the company’s diverse farmland investment strategy.

“These investments expand on Nuveen’s considerable exposure to wine grapes in the US and leverage the significant expertise we have within our business in this space,” said Davies.

“There has been relative value in the Australian market in the last 12-18 months, partly due to China trade dislocation.”

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