News

State-of-the-Art dried fruit property for tender

Thu, 07 Feb 2013 06:05:00

One of the Mildura region’s most highly-rated dried fruit vineyards is on the market, and offering a potential immediate return for the buyer.

The 39 hectare property at Wargan, west of Merbein, is being offered for sale by tender, including the existing crop of premium varieties.

The Mildura-based Tierney Property Group is co-ordinating the sale in conjunction with Melbourne Commercial Real Estate and the selling agent Frank Tierney said the property had been strategically designed for optimum financial return.
“It’s a superb young vineyard that really came into full production only last season,” Mr Tierney said.
“The property produced 240 tonnes in 2012, and the fact that it’s being offered with the 2013 crop is a real incentive for buyers,” he said.
“Tenders close on March 1 and buyers will have working possession within a week, meaning there’s an immediate opportunity for a substantial financial return with minimal production inputs.”
The oldest plantings on the property at 499 Wargan Road are 10 years old, meaning the entire 35 hectares is now at peak production.  The plantings are watered by the best-practice drip irrigation system, and managed under a fertigation system.
“The whole property was set up on investment principles – minimum risk, maximum return,” Mr Tierney said.
“It’s positioned in a predominantly dry land farming area, meaning there’s minimal disease pressure on the vines,” he said.
“The two varieties that have been selected are weather-tolerant, therefore minimising one of the major seasonal risks for a dried fruit crop. 
“The Carina Currants and Sunmuscat Raisins are also considered to be in short supply, presenting a potential marketing and price advantage.
“In addition, all the plantings are on the prime trellis system, Shaw trellis, which allows full mechanisation, thereby maximising production and minimising vine management cost.”
Mr Tierney said improvements to the property included a four-bay steel shed, to house equipment, the irrigation pumps and fertigation system.
“Included in the sale is a water share entitlement of 120 megalitres, and all the operational plant and equipment needed to run the property,” he said.
“It really is the complete package, where the work is done, the expertise has been employed and the infrastructure is in place.
“The quality of the developed property makes it perfect for a discerning and ambitious dried fruit professional looking to move up.
“But equally, the quality of the property presents enormous potential for an investor wanting to put contract management arrangements in place.”