Treasury Wine Estates is selling its massive vineyard near Bordertown in the Limestone Coast.
The 488-hectare property includes more than 374 hectares of vineyards including Cabernet Sauvignon, Chardonnay, Merlot, Shiraz and Tempranillo.
Red winegrapes make up 83 percent of the vineyard.
“It is a significant vineyard by any measure,” Tim Altschwager of Colliers Agribusiness says.
“Imagine, should the Chinese market reopen, then large-scale commercial vineyards such as Bordertown Vineyards, assume even greater importance.
Penfolds established the vineyard in 1989.
The vineyard is expected to attract offers of about $9 million.
Colliers International website says, “The outstanding land holding could potentially be redeveloped to alternative horticultural/agriculture pursuits.”
Expressions of interest close on Thursday 13 July.