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Chinese interest in Hunter vineyards

02 Aug, 2011 04:00 AM
A SECOND prominent Hunter wine tourism property has been sold to Chinese business interests in as many weeks.

Veteran vignerons welcomed the investment and hoped wine production and prime agricultural land would be maintained.

Windsor’s Edge, at Lovedale, was sold for an undisclosed sum that was more than the asking price of $2.6 million, said Jurds Real Estate director Cain Beckett who negotiated the sale.

Mr Beckett also sold the Golden Grape, on Oakey Creek Road, Pokolbin, about two weeks ago to Chinese company Winston Wines for $2.8 million.

The Newcastle Herald emailed questions to Winston Wines and called the company for comment on the deal, but it did not respond.

Mr Beckett said the Golden Grape price was ‘‘very strong,’’ at a time when there was ‘‘no domestic market for vineyards’’.

He said the Windsor’s Edge buyer, who he could not name, already exported Australian wine to China and planned to expand production.

A Japanese bidder for the property, who was not successful, was considering establishing a medical tourism operation there, Mr Beckett said.

Hunter Valley Wine Industry Association president Andrew Margan of Margan Wines said he hoped the area’s agricultural land and quality of wine production was maintained.

‘‘We are all seeking investment in the industry,’’ Mr Margan said.

Tyrrells Wines’ Bruce Tyrrell said half his company’s wine was sold to Asia, most of it to China, and there was a better chance production would be maintained if there was Asian investment in the area.

Mr Tyrrell said Australia had always had high levels of foreign investment and the issue was not as serious as others facing the industry.

‘‘Our biggest problem is keeping [coal seam gas explorers] AGL out of the area,’’ he said.

Other wine properties on the market include Nightingale Resort Winery at Milbrodale Road, Broke, for $3.8 million and Herlstone Vineyard in Pokolbin and Capercaillie at Lovedale.

The Hunter Valley wine industry exports to more than 50 countries.

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comments


Date: Newest first | Oldest first
There is not much owned by Australians anymore.

There seems to be no guard against who owns this country. We are not protected. Money talks above all else.

Posted by Rose-Lake Macquarie, 2/08/2011 4:55:12 AM, on The Herald
Another coal mine?
Posted by Bo, 2/08/2011 7:26:37 AM, on The Herald
just wondering if there's a paper trail between winston wines and a large coal company ?
Posted by just a thought, 2/08/2011 8:30:50 AM, on The Herald
wrong!!
Posted by cantseeme, 2/08/2011 8:37:07 AM, on The Herald
And we will stupidly sell
Posted by We are Stupid, 2/08/2011 8:39:55 AM, on The Herald
Australia must be the only country stupid enough to allow foreign ownership of land.

Be an Aussie trying to buy property in China or Japan & see how you fare.

Posted by Machiavelli, 2/08/2011 9:19:50 AM, on The Herald
why dont we just sell all australia owned businesses to china? australia will be owned by china soon.
Posted by chameleon, 2/08/2011 10:41:47 AM, on The Herald
Decades ago countries went to war to protect their infrastructure, resources and national identity. Now we happily sell off the same assets, relinquish control of our resources (how much of our electricity system, farming land & mining interests are controlled by overseas interests) and any vestige of nationalism left goes out the window. Management and Australian workers are being asked to show more loyalty to an overseas interest than to their own country.
Posted by Lost Cause, 2/08/2011 11:38:07 AM, on The Herald
I like Chinese but i don't want my country owned by them.
Posted by No China Miner, 2/08/2011 12:13:34 PM, on The Herald
These foreign owners still have to abide by Australian Law and pay Australian Taxes so what's the big deal? If Australia went to war with China it would by the Chinese owners in trouble not Australians get over it people.

Glad to see that Windsor's Edge will still be a vineyard for the time being. Leave the coal seem gas where it is.

Posted by Techy, 2/08/2011 12:50:07 PM, on The Herald
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