Five-vineyard bonanza as receivers move in

The wineries behind Coles supermarkets’ largest private wine label supplier are on the market after the company was placed into receivership.

An enormous 1007ha portfolio of five vineyards belonging to the Littore Wine Group in both Victoria and New South Wales will be sold via expressions of interest more than 40 years after the Littore family planted its first vines.

The vineyards include the enormous Arlington vineyard, which has 739ha of vines planted on 6850ha of land near Wentworth in New South Wales, as well as a number of other wine-producing properties near the Victorian border town of Mildura and the company’s winery and bottling facility near Geelong.

The news of the company’s demise comes just a month after it was lauded at a Coles national award ceremony.

The facilities at Jindalee Estate are extensive

Colliers International’s Tim Altschwager and Nick Dean have been appointed by receivers Ferrier Hodgson to sell the collection of properties, with Altschwager pointing to its huge producing capacity as a sign of the vineyards’ ongoing viability.

“The high-yielding vineyards have been expertly established and maintained by the Littore family and have produced an average of around 30,000 tonnes over the past four vintages,” Altschwager says.

The Littore portfolio boasts around 7000 megalitres of high security water, which we expect will attract significant interest in its own right

“Littore’s vineyards are primarily located on the New South Wales side of the River Murray in the Murray Darling wine region, near the rural city of Mildura.”

Altschwager says he expects winemakers both at home and abroad to compete for the properties, which also have the potential to grow other crops.

The wineries have produced more than 30,000 tonnes of grapes over the past four seasons

“Given the huge scale of the offering, and current strong conditions in this sector, we are expecting significant interest from a wide range of buyer groups, both domestic and offshore,” he says.

“The market for agricultural assets is improving. We are receiving strong interest in quality, large-scale properties with substantial water entitlements. The Littore portfolio boasts around 7000 megalitres of high security water, which we expect will attract significant interest in its own right.”

“This also opens up the possibility that the properties might attract alternate uses, such as the potential conversion to almonds or cotton, which broadens the appeal of what is already one of the most significant wine industry offerings that’s come to the market.”