Published on March 14th, 2018
Quelltaler Estate expands with Kenfield purchaseThe Kench family, who have farmed in the Auburn district since the 1890’s, offered ‘Kenfield’ for sale by auction on Thursday 8 March. The property sold under the hammer for $5.587 million – significantly above pre-auction expectations.
The 423 hectare (1046 acre) property is renowned in the Auburn district of the Clare Valley. The land being a mixture of fertile flats to gently undulating hills offered opportunity for broad acre cropping, viticulture and grazing interests.
Offered in eight individual parcels, the property went to auction at the Clare Country Club with auctioneer Phil Keen in front of a strong crowd of 80 people. Elders Real Estate agents Ian Jaensch and Chris Klaebe marketed the property over 6 weeks, receiving wide spread pre-sale interest.
Elders Real Estate auctioneer, Phil Keen says “the power of auction enabled the market to be rigorously tested and the competitive tension rose dramatically resulting in prices well above pre-sale expectations.”
Lots 1, 2, 3 & 4 were purchased by two local farming enterprises with prices on most pre-sale expectations ranging from approximately $4,000 to $4,800 per arable acre.
Lots 5, 6, 7 & 8 comprised of approximately 312.8 hectares (773 acres) sold to Quelltaler Estate for $4.352 million.
Heritage listed Quelltaler Estate, established in 1865, is expanding their operations. The Kenfield purchase takes the Company’s vineyard holdings to around 1500 acres in the Clare Valley.
Quelltaler Estate Managing Director, Warren Randall says “the opportunity to acquire ‘A grade’ red wine country in Auburn on the Terra Rossa soils of Clare is a once in a once in a lifetime opportunity.”
“We plan to plant approximately 560 acres to Cabernet Sauvignon, Shiraz and Mataro varieties.”