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Hong Kong company buys three Australian vineyards for $15.7m

Posted by Ruth Mcilroy on 11 February 2015 |

Hong Kong company buys three Australian vineyards for $15.7m

Hong Kong stock exchange listed CK Life Sciences has agreed to purchase three vineyards from one of Australia’s oldest winemakers, McWilliam’s Wines Group. The sale for $15.7m comprises of over 1200 acres of planted vines with the deal seeing McWilliam’s Wines Group lease back the vineyards for the next 15 years. One vineyard is located in Griffith NSW and two are in Coonawarra SA.

It is the 6th Australian vineyard purchase for CK Life Sciences, with it controlling over 15,000 acres of vineyards in Australia alone. It also owns thousands of acres of vineyards in New Zealand along with a proposed residential development in Geelong for which it paid $150 million for in 2013.

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