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KINGSTON Estate Wines has acquired the 252ha New Residence vineyard in South Australia's Riverland region for an undisclosed amount in a deal negotiated by Colliers International's Tim Altschwager and Nick Dean on behalf of Seven Fields.
New Residence Vineyard is just outside Loxton (pictured), with about 36.4% of the vineyard planted to red varieties and 63.6% planted to white varieties. The vineyard was developed in 2001 and planted to 233ha with the balance of the land comprising headlands, formed internal roads and shed curtilage.
New Residence vineyard was one of three large commercial vineyard investment properties managed by Seven Fields that were put to market through Colliers International.
Dean said the Riverland region was Australia's largest producer of wine grapes, responsible for about 30% of the national grape crush annually.
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