This article is from the Australian Property Journal archive
THE Chinese-government backed Shandong Geo-mineral International Investment Co Ltd has purchased a Kangaroo Island aquaculture and tourism farm for more than $1.6 million.
The 289ha Andermel property includes the Andermel Marron Farm, the Marron Café and Two Wheeler Creek Wines. Kangaroo Island is 15km off the coast off the South Australia mainland and 112km south-west of Adelaide.
Colliers International agents Jesse Manuel and Tim Altschwager negotiated the sale, with the heads of agreement signed during the South Australian Premier’s Trade Mission to China in May last year and sale now settling after an extensive due diligence period.
The marron farm was established in 1997 and consists of six breeding ponds, nine nursery ponds and 52 grow ponds.
The property also includes an 8ha vineyard planted to Shiraz, Cabernet Sauvignon, Sauvignon Blanc and Chardonnay, producing wine for Andermel’s own Two Wheeler Creek label and a licenced cellar door.
Manuel said there has been a rapid increase in enquiry in the demand for agriculture and tourism assets on Kangaroo Island.
Kangaroo Island currently has $171 million worth of projects either approved or planned for Kangaroo Island in the coming years, including an $18 million joint investment by the state and federal governments to extend the Island’s airport runway and allow direct flights from Sydney and Melbourne.
Altschwager said Kangaroo Island was renowned for its pristine beaches, native wildlife, tourist attractions and fresh local produce.
“Kangaroo Island generates some of the state’s finest produce and features some of the most eye-catching scenery and touring opportunities,” he said. “Tourism is a significant cultural characteristic of the island and many local farmers and business alike thrive on the allure that Kangaroo Island offers.”
Australian Property Journal
