Chinese investors back in the Hunter Valley market

Three Hunter Valley vineyards have been listed for sale, and a local real estate agent is predicting Chinese investors will be battling with cashed-up locals to snare them.

Marsh Estate is on the market with price expectations around $3m; Iron Gate Estate has a price tag of around $7m; while Adina Vineyard is also up for sale. 

Alan Jurd - who sold Loggerheads and Hungerford Hill vineyards last year – told the Australian Financial Review that Chinese investors are back in the market.

"The Chinese are back and looking. But they are a bit slow compared with the locals. They take too long to make up their minds," said Jurd, who heads up Jurd's Real Estate.

Loggerheads, was sold by former Macquarie director Robin Crawford and his wife Judy for $6m by an undisclosed Australian public company. The Kirby family's Hungerford Hill winery was also sold for $6m, to Sydney-based pub owner and developer Iris Capital.
The first sign of renewed Chinese interest came In December, when Wandin Valley Winery was bought in November for $7m by Lap Tung Tsoi, a director of Chinese animation and toy business Alpha Group. (Tsoi also owns an $11.7m mansion in Vaucluse he bought two years ago.)

In 2014, Jurd explained to the BBC why Australian wineries are so desired by the Chinese market: "China-based wine importers are looking for a beautiful and prestigious winery in Australia as a showcase for their business and to impress their Chinese customers."