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Padthaway winery uncorked for sale

Real Estate

Stonehaven Winery, which features a modern 12,000-tonne crushing facility, wine cellar and function centre, has hit the market.

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The 68.55-hectare property in the state’s south-east 290km from Adelaide also includes 36-hectares of Merlot, Verdelho, Cabernet Sauvignon and Viognier vineyard plantings.

Colliers International’s Agribusiness real estate agent Nick Dean told InDaily the property was purchased by its current owners in 2013.

“It’s been owned by Chinese interests who have wine industry assets in Western Australia as well and it is now surplus to their requirements,” Dean said.

The vineyards were established in the 1980s by Australian producer Hardy Wine Company and more than $20 million was invested in developing the winery and cellar door, which opened in 1998.

At the time, it was Australia’s largest greenfield winery and the region’s most significant cellar door.

Hardys – which was renamed Constellation Wines Australia – closed the cellar door in 2008 and sold the winery in 2010 for a reported $7 million. But the revamped Stonehaven Wines went into liquidation in early 2013 and the site was sold to its current owners.

The 12,000-tonne capacity winery has been leased to Limestone Coast Wines since 2013, which is owned by former Hawthorn Football Club captain Ritchie Vandenberg and business partner Justin Moran. The current lease expires in mid 2021.

Colliers International Agribusiness said Limestone Coast Wines would like to extend its lease – but was not considering buying the winery.

The agency said Stonehaven’s location was originally chosen for its close proximity to the Riddoch Highway, which was the main regional transport route in the Limestone Coast, and would suit a producer who already owned a vineyard.

“It’s accessible to Riverland producers – that’s why it was built in the first place, it’s strategically located,” Dean said.

“While it’s a very good commercial vineyard, a 12,000-tonne crush winery requires input from elsewhere, so it really suits somebody who already has vineyards and needs a winery.

“It also has potential as a tourist destination, with the wine industry trending upwards in the past three years, I think it’s a pretty good opportunity.

“It’s not often that a wine industry asset of that significance comes on the market.”

The winery holds more than 10.7 million litres of tank storage, a temperature-controlled barrel store with a capacity for 10,000 barrels and red fermentation capacity.

Tim Altschwager and Nick Dean of Colliers International’s Agribusiness are taking expressions of interest for the winery until September 18.

InDaily contacted Limestone Coast Wines for comment.

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