cooke plains, south australia a u s t r a i i a n real...

MARKETING SUBMISSION FOR PAGE 1 of 34

A u s t r a I i a n REAL ESTATE

Padthaway

`

CAMDEN Cooke Plains, South Australia

INFORMATION MEMORANDUM PAGE 2 of 34


C h o o s i n g E l d e r s i s c h o o s i n g s u c c e s s

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P a d t h w a y E s t a t e A n d

E l s d e n s

For Sale By Negotiation

James Leake

Elders Real Estate 12-18 Moyhall Road NARACOORTE SA 5271 Phone: 08 8762 2022 Mobile: 0427 623 338 Email: [email protected]

t h e l a r g e s t , m o s t e x p e r i e n c e d r u r a l r e a l e s t a t e c o m p a n y i n A u s t r a l i a

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Contents

MARKETING TEAM 4

SALE METHOD 5

INTRODUCTION 5

LOCATION AND SERVICES 6

PADTHAWAY WINE REGIONS 7

HISTORY 8

LAND TENURE DETAILS 9

PROPERTY DETAILS 12

PROPERTY PLAN 13

PROPERTY LOCATION PLAN 14

CLIMATE 15

RAINFALL 16

WATER 17

VINEYARD DETAILS 23

IMPROVEMENTS 24

WINERY 27

PLANT AND EQUIPMENT 32

DISCLAIMER 34



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Marketing Team

James Leake

Elders Real Estate 12-18 Moyhall Road Naracoorte SA 5271 Phone: 08 8762 2022 Mobile: 0427 623 338 Email: [email protected]



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For Sale By Negotiation

$3.5m Land improvements, winery, water lables – Padthaway Estate

$850,000 - Elsdens

Padthaway Estate may be purchased as a whole or in contingent lots.

Introduction

Assets such as Padthaway Estate rarely come on the market.

The combination of splendid historic buildings, established vineyards, famous brands, broad acre horticultural land, development potential and modern winery facilities, strategically located in the heart of a well watered wine region, is possibly unique to Padthaway Estate.

Padthaway Estate has been developed as a vineyard with an on-site winery complete with a cellar door sales outlet. The vineyards are fully established with a total of 44.5ha planted.

Padthaway Estate is located in the heart of the Limestone Coast wine region of South Australia. The winery combines the grace of a classic Australian woolshed with a simple functional winery, capable of processing high quality fruit into fine wine.

The property features the elegant „Padthaway Homestead‟.

The homestead, built of local limestone in 1882, is a two storey Victorian mansion with wide verandas and an elegant and timeless symmetry. The homestead is set in magnificent formal gardens surrounded by a hedge and incorporating numerous rose gardens, dry stonewalls and steps.

The homestead is beautifully set among the vines and towering red gums and is an integral part of the Padthaway Estate Vineyard providing executive bed & breakfast accommodation and facilities.

South Australia is the hub of the Australian wine industry and Padthaway Estate is at the very heart of the wine region of the same name. Padthaway is an important supplier of high grade fruit and an extremely successful and versatile producer of premium wines.

Elders Real Estate and Colliers International are excited to offer the extraordinary assets of Padthaway Estate for sale and welcome the opportunity to address inquiries.

This Information Memorandum summarizes the key details of the assets offered for sale by Expression of Interest. Prospective purchasers should note that all factual information on the assets themselves has been supplied to the Agents by the registered proprietors and prospective purchasers should rely on their own investigations to verify the accuracy of the information.



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Location and Services

The property is located in the „heart‟ of the Padthaway Viticultural Region (as designated by the Australian Wine and Brandy Corporation), adjoining vineyards to the north, south and west. Also located within the greater Limestone Coast Region.

The property is centrally located within the township of Padthaway, opposite the commercial area to the west but south of Padthaway residential settlement. Access to the property is excellent with frontage to the Riddoch highway on its south western boundary, the bitumen Beeama Parsons Road on its south eastern boundary and the bitumen Padthaway – Mundulla Road on its north western boundary.

Naracoorte is approximately 50 kilometres to the south and Bordertown approximately 40 kilometres to the north east.

Three phase electricity and telephone services are connected to the property.

Water is supplied by bores and rainwater tanks. Sanitary facilities are provided by septic tanks.



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Padthaway Wine Region

South Australia produces well over half of Australia‟s wine grapes and is the production centre of the Australian wine industry. The Padthaway wine region is a significant contributor.

The name “Padthaway” derives from the local aboriginal word literally meaning “good water”.1

It was adopted by the Lawson family, who pioneered this important agricultural area of south eastern South Australia in 1847, and established a large “run”.

Viticulture has long been part of the tradition of this part of South Australia. In the 1860s John Riddoch planted the first vines at Coonawarra about 80 kilometres south of Padthaway. The Padthaway G.I. (Geographical Indication as prescribed by the Australian Wine and Brandy Corporation) is part of the Limestone Coast Zone, which includes Coonawarra. Coonawarra is world renowned for fine wines grown in its famous terra rosa soil. Similar soil profiles were discovered in Padthaway and in the 1960s Seppelt established a large vineyard. Today the major producers have extensive vineyard holdings in the region and well known brands such as Stonehaven, Lindemans, Penfolds, Jacobs Creek, Browns of Padthaway, Henry‟s Drive and Morambo Creek use Padthaway fruit for part or all their blends.

The region cultivates around 40,000 tonnes of wine grapes in an average vintage. The total planted area is around 4073 Hectares – 1603 Hectares of white varieties and 2470 Hectares of red varieties. From the verandah of the fabulous Padthaway Homestead vineyards appear to extend to the western horizon.

The region is known for its white wines, especially Chardonnay, and Padthaway Chardonnay and Pinot Noir fruit are used for high quality sparkling wine production.

Being slightly drier and warmer than its celebrated neighbour Coonawarra, encourages versatility and has led to the establishment of many varieties such that red plantings now outweigh whites.

Most of the fruit is processed by major producers outside the region. Padthaway Estate‟s Woolshed Winery is one of two wineries in the region. The other is Hardy‟s Stonehaven Winery.

Padthaway Estate‟s wines and the philosophy behind their creation is best described by reference to the dedicated winery website padthawayestate.com.au and the regular newsletter, which include descriptions of the wines, tasting notes, wine awards, and other information.

The iconic Padthaway Estate labels include: Eliza Pinot Noir Chardonnay and the Eliza range of sparkling wines, Unwooded Chardonnay, Reserve Chardonnay, Robe Sauvignon Blanc, Limited Release Rose, Cabernet Sauvignon and Shiraz.

1

Elaine Lawson p556 Historic Homesteads of Australia, 1982, Australian Council of National Trusts



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History

Padthaway Estate is located in the heart of the Padthaway wine region of South Australia.

This region takes its name from the estate which was settled by pioneers, Robert and Eliza Lawson in 1847. Upon taking up the property, Robert built Eliza a small 8 roomed white washed Georgian style stone cottage where they resided for 30 years, producing eight children.

The family became successful pastoralists and Padthaway became the principal grazing property in the district. Robert Lawson intended to build his family a majestic residence, reflecting the family's success. Unfortunately he never lived to fulfil his ambition, passing away unexpectedly in 1876.

In the 1880's, Eliza Lawson, in her late 50's, a widow and a strong practical-minded mother of her six surviving children, then built a fine 13 stand woolshed of local limestone, purchased more country and oversaw the completion of the 22 roomed new homestead.

In the 1890's Padthaway was freeholded and over the next 80 years the family grew and various arms of the family went their own way. This led to the original estate being divided many times and to the resources of the estate being severely stretched.

The highs and lows of the wool industry and the Australian economy also took their toll on the Lawson family's resources. Land was sold as difficulties arose and from the late 1950's the Seppelt and Hardy families started purchasing land in the district for viticulture and the township of Padthaway was gazetted.

The district is now a thriving premium South Australian viticultural district with approximately 3,300 hectares under vines. Southcorp / Beringer Blass (Fosters Group), BRL Hardy (Constellation Wines) and Orlando Wyndham (Pernod Ricard) -the big three of the Australian wine industry all have substantial holdings and infrastructure in the district on land once farmed by the Lawsons.

Padthaway Estate, however, remains the district's icon.



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Land Tenure

Certificate of Title Volume 5868 / Folio 631

Allotment / s Plan Area Hundred Size

18, 19, 20 FP 4572 PADTHAWAY PARSONS 50.10 ha



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Land Tenure


14 FP1301 PADTHAWAY PARSONS 1,174 m2




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Land Tenure - Elsdens







10 DP43085 PADTHAWAY PARSONS 31.72 ha


* 9 DP43085 PADTHAWAY PARSONS 1.181 ha

* Sale from Water Alfred Elsden – settlement 20th December 2008





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Property Details

Certificate of Title Volume 5868 / Folio 631 (Allotments 18, 19, 20) – Padthway Estate

Certificate of Title Volume 5496 / Folio 655 (Allotment 10)





Easements – Subject to a free and unrestricted right of way over the land marked ‘A’ (see plan)

Endorsements – Mortgaged to St George Bank Ltd Lease (1/7/2007 – 30/6/2012) SA Heritage Register -Gazette 23/11/1989


Easements – nil Endorsements – Mortgaged to St George Bank Ltd SA Heritage Register -Gazette

23/11/1989

Easements – Subject to a free and unrestricted right of way over the land marked A D E and F Together with a free and unrestricted right of way over the land marked B and C -(see plan)

Endorsements – nil

* Contract on sale of property – settlement 20 December 2008

Easements – Subject to a free and unrestricted right of way over the land marked A C D and F Together with a free and unrestricted right of way over the land marked B and E -(see plan)


Easements – Together with a free and unrestricted right of way over the land marked B and F -(see plan)

Endorsements – Lease to ETSA Corporation on 4/11/1964 – 3/11/2063 of an easement over portion (subject to lease 889000) -Vesting of lease 2600542 in Distribution Lessor Corporation.

Easements – Subject to a free and unrestricted right of way over the land marked A C E and F Together with a free and unrestricted right of way over the land marked B and D -(see plan)


Easements – Together with a free and unrestricted right of way over the land marked B and F -(see plan)

Endorsements - nil



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Property Plan

Certificate of Title Volume 5868 / Folio 631 (Allotments 18, 19, 20)


INFORMATION MEMORANDUM




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Vineyard details The vineyards on Padthaway Estate are fully established with the youngest vines being planted in 1995. The Majority of the vineyard was planted in the period 1980 to 1985. A total of 44.5 hectares is now planted with planting details as follows:

All plantings are well established. Most of the older plantings are on a T trellis system, with the newer plantings being of standard single wire VSP trellising with creosote posts. Most of the trellising is at 3.5m row spacing and all vines are drip irrigated. Vines are machine pruned and harvested.



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Improvements HOMESTEAD

The centre piece of Padthaway Estate is the 1882 Victorian stone mansion, which is one of the most important colonial homesteads in Australia and features in Historic Homesteads of Australia, published by the Australian Council of National Trusts in 1982. The house is characteristic of its provenance and has been well cared for, with successive refurbishments preserving the Victorian colonial elegance and charm. It still exudes the ambience of a large, comfortable, country house and operates as a highly sought after, quality, bed and breakfast destination. The homestead accommodation displays all the grandeur of the Victorian period. It features large formal rooms downstairs and a fantastic staircase to an upper level with six double bedrooms for guests. It is splendidly positioned in gardens and parkland, overlooking the surrounding vineyards. Lease Details The homestead has previously been leased. Although the property is vacant at present, a new tenant more than likely would be available at around the $40k per annum.



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Improvements SHEARERS QUARTERS This building is a significant adjunct to the homestead hospitality business. The shearer’s quarters have been very smartly renovated and furnished to accommodate four couples. The renovation captures the rustic ambience of the building’s history. Built in 1902 of local stone, it features around 240m2 of gross floor area plus a concreted verandah, fenced yard with lawns and border trees. The dining hall/ kitchen features an impressive fireplace at the one end and a combination of modern and original kitchen implements at the other. The quarters are connected to a bore equipped with a pressure pump unit. There is also a rainwater tank, meat house and underground lawn sprinkler system.

Cellar Door

Is run by existing staff & casual staff on weekends.



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Winery BRANDS AND WINES The Padthaway Estate Range of table wines consist of brands which are branded under Padthaway Estate and Padthaway Estate Shield with anything Limited Release being available only at Cellar Door Sales although some of the wines that are now under the Padthaway Estate Shield had started as a Limited Release. All brands transfer with the property. The Padthaway Estate Eliza Sparkling range is named after Eliza Lawson. Padthaway Estate Eliza Pinot Noir Chardonnay Padthaway Estate Eliza Late Tirage Pinot Noir Chardonnay Padthaway Estate Eliza Sparkling Chardonnay Padthaway Estate Eliza Sparkling Rose Padthaway Estate Eliza Sparkling Shiraz Padthaway Estate Unwooded Chardonnay Padthaway Estate ‘Robe’ Sauvignon Blanc Padthaway Estate Reserve Chardonnay Padthaway Estate Pinot Noir Padthaway Estate Shiraz Padthaway Estate Cabernet Sauvignon Padthaway Estate Limited Release Rose Recent Wine Show Awards 2007 Royal Melbourne Wine Show Bronze 2005 Cabernet Sauvignon Bronze 2005 Cabernet Sauvignon 2007 Murrumbateman Cool Climate Wine Show Bronze 2004 Chardonnay Bronze 2005 Cabernet Sauvignon 2007 Rutherglen Wine Show Gold 2005 Cabernet Sauvignon Bronze 2004 Eliza Sparkling Shiraz Bronze 2005 Shiraz 2007 Limestone Coast Wine Show Silver 2002 Eliza Pinot Noir Chardonnay Silver 2005 Shiraz Bronze 1992 Eliza Pinot Brut Bronze 2004 Eliza Pinot Noir Chardonnay Bronze 2006 Unwooded Chardonnay Bronze 2004 Chardonnay Bronze 2004 Chardonnay



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Winery WORKSHOP & BARREL STORE The winery workshop and barrel store consists of a 170 m2 steel framed, galvanised iron shed with concrete flooring with power connected. One third is a fully lockable workshop with adjoining carport with service pit. Two thirds of the shed have been converted into a barrel store with upgraded concrete flooring, iron internal walls with steel frame, sprayed ceilings and walls for insulation and sliding door access at the front. The store has a storage capacity of 300 barrels plus 200 barrel winery storage.



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Winery … (Photo gallery)



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Winery … (Floor Plan)



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Plant And Equipment – to be confirmed



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Plant And Equipment – to be confirmed Vehicles & Machinery 1 Vineyard Managers Ute – Fully maintained Nissan patrol – 25,000 kms (second hand - leased) 1 Massey Ferguson Tractor 1 Fiat Tractor 2 Sprayers 1 Trailer – 6 x 4 1 Slasher 1 Briggs & Stratton Ride – on lawn mower

Various tools in v/yard workshop including arc welder, chainsaw, mounted angle grinder, drill – misc other.

Vineyards & Bores 21.34ha Chardonnay – IVO11 clone on 0.9 Tee – planted between 1980 and 1985 19.34ha Pinot Noir – D5V12clone on 0.9 Tee – planted between 1980 and 1985 .81ha Pinot Meunier 2.0ha Shiraz – BVRC30clone 2 wire shoot positioned – grafter in 1999 onto PN 1ha Cabernet Sauvignon – Reynella clone on single wire – planted in 1995 12” main bore – 3 phase electric pump (pole mounted transformer) ring line for majority of vineyard 9” second bore – 240V electric pump – SQ Cabernet Sauvignon (& SQ requirements)

Homestead Furniture, Goods & Chattels Basically WIWO except for a few pieces of furniture. Wine Stock All current wine stock.



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Disclaimer

CONFIDENTIALITY

The contents of this document are confidential and are produced for your personal use and not for distribution to any other person or corporation without prior notice to Elders Real Estate.

COPYRIGHT

This document is subject to copyright.

DISCLAIMER

Elders Real Estate takes no responsibility for any errors or omissions or discrepancies, if any, in the enclosed particulars which have been compiled from information supplied to us by the vendor and other sources and are subject to withdrawal without notice. All maps and areas are approximate only and are given as guidance only.

This document and any advertising material are for promotional purposes only and are not to be relied upon as a guarantee of performance or productivity of the said properties. All intending purchases should satisfy themselves by inspection and make their own enquiries and investigations about the property and satisfy themselves thereon.

FINANCIAL INFORMATION

The financial information is provided as a guide only. We stress any incoming purchasers need to make their own enquiries about the financial statements and returns on the property.

The purchaser acknowledges that opinions may differ as to what constitutes discretionary expenses and the vendor‟s allocation of expenses may be different from that which may be affected by the intending purchaser.

An interested purchaser should seek its own expert advice as to the accuracy and relevance of the figures and must relay on their own enquires and assessments as to the financial return or income to be derived from the property and the activities carried out on it.

The activities that have been carried out on the property have varied from year to year.

Reasonable effort has been made to ensure the accuracy of the figures but no responsibility is accepted in any way whatever to any person for any errors or omissions however caused. No warranty is given that any purchaser will or can achieve the same or similar figures in the future.

The purchaser acknowledges that among other things, seasons, commodities, and stock prices change and that the figures will vary depending upon the budgets which have been set, management decisions, and the financial objectives of the partnership and those of the purchase.

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