Subscriber login Close [x]
remember me
You are not logged in.

Adams buys Leasingham vineyard

Published:  20 July, 2009

Tim Adams Wines, the Clare Valley producer, has bought 75 hectares of Leasingham vineyards for what it believes was a knock-down price.

The producer paid A$850,000 for the land from Constellation, which has so far failed to find a buyer for the Leasingham winery itself and may be forced to grub up the remaining 290 hectares of vineyard attached to the business.

In all it has 23 Australian vineyards on the market.

Tim Adams told Australian reporters he had done the "deal of the century".

He added: "I think the price that we've paid for this vineyard in no way reflects the value of a vineyard in Clare.

"I believe vineyard in Clare has been and still is and will be in the future worth $40,000-$60,000 per hectare."

Tim Adams Wines currently crushes about a thousand tonnes annually - about 850 tonnes for the Tim Adams Wines label, the rest under contract to other Clare labels. The fruit is sourced from eight local growers as well as from one leased vineyard and four of our own vineyards.