The cost of two striking wine properties in the state has been revealed, with Brookland Valley Estate and a tucked away Gunyulgup vineyard property each fetching $6.5 million or more.
The cost of two striking wine properties in the state’s South West has been revealed, with Brookland Valley Estate and a tucked away Gunyulgup vineyard property each fetching $6.5 million or more.
The biggest of the two deals, the purchase of Brookland Valley for almost $7 million by Frankland River-based winemaking Swinney family, was inked in October as part of several asset sales by Accolade Wines as it restructured its Western Australian assets.
The parcel of properties is almost 60 hectares, has enormous frontage on Caves Road and includes the Flutes Restaurant which is leased and operated by a third party. Accolade will lease the 15ha vineyard back to continue wine production.
Much lower key has been the $6.5 million sale of a 42ha property on Wildwood Road with established vineyards, a big dam and two residences with views across the Gunyulgup Valley.
The property was sold in June by long term owner Dirk Hartog Pty Ltd, which had Jacob de Jong as its sole director, but the price and the new owner remained undisclosed until recently.
The purchaser was BLP 1 Pty Ltd, a company controlled by Peter Medich, part of the major NSW property development Medich family. His father, Ron, jointly controlled a big property empire with his brother Roy, Peter Medich’s uncle.
It was a multi-generational property development family, but the scale of their success is illustrated by the $500 million 2017 sale of a 344ha landholding adjacent to the proposed airport at Badgerys Creek in western Sydney. It is understood the Medich brothers profited from immensley from that sale having acquired the land for a fraction of that price prior to separating their business interests in the late 1990s.
Ron was jailed in 2018 for the murder of a business associate. There is no suggestion Peter Medich had anything to do with the crime for which his father was convicted.
Peter Medich appears to have focused his interest on Western Australia in recent years. He acquired a residential property in Floreat five years ago and, more recently, bought a 1315 square metre site with 16 short-stay accommodation units on John Street in Cottesloe for $16 million.
Wildwood Road east of Caves Road has become an increasingly exclusive address in recent times, with the undulating land and large property parcels providing significant opportunities for a private retreat for some of the state’s wealthiest families.
Among owners on the road, or its immediate surrounds, are members of the Bennett, D’Orsogna, Gammell and Litis families.