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Venture seeks vineyard expansion

BLACK George Wines and Warren River Estate have been merged into a single project which is now seeking to raise up to $14 million to expand its vineyard and build a winery.

Black George Wines has been established since 1981 and has 25 hectares already planted and producing.

It is planned to purchase a further 52 hectares with the capital raised, build a winery and café and develop a further 35 hectares of vineyards.

According to a company spokesman the move has given the newly established project a proven track record and an instant supply.

Most other projects took several years before a return on the wines was achieved, he said.

The prospectus promises a positive cash flow from five years onwards, with returns of 28.9 per cent, Australian Tax Office approval for tax deductibility, and 20 per cent discounts on personal wine consumption.

“Investors in this grape to bottle project may share 100 per cent in the vineyard land, winery, cellar door-café and the business itself,” the spokesman said.

“Following the lead of Margaret River wine pioneers such as John Hogan and other prominent vignerons, who are now deeply involved in the Pemberton wine region, Warren River Estate should likewise make a telling contribution to the industry.”

By 2007, it is envisaged that the winery will produce up to 530 tonnes of wine.

Global Wines (Australia) has been contracted by the company to sell and market the wines in Australia and overseas.

A project spokesman said the Pemberton region was already developing a reputation for producing wine with a more subtle taste because of its cooler climate.

While Margaret River was already well established, Pemberton was catching up, with about 20 vineyards in the region.

Brand & Associates Management and Consultancy director and Natural Farm Blend Pty Ltd managing director Brian Brand is chairman of the new project.

Douglas Wilson, who has been involved with the management of Black George Wines for a number of years, will be a

director.

Anthony Torre and Richard Haren are also directors of the company.

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