Chinese buying South Australian wineries
Thursday, 04/02/2010
The Chinese are buying up South Australian wineries.
Colin Gaetjens, land broker with Gaetjens Langley, says 40 wineries are up for sale on their books across southern Australia, with most of the buying interest coming from China.
He says they've made sales in the Adelaide Hills, and had many enquiries for wineries in McLaren Vale and the Clare Valley.
Mr Gaetjens says he hopes this continues, as the Chinese are the only ones interested in investing in Australian wine.
"We are probably getting three times more enquries from Chinese sources than Australian sources," he says.
"You've got to keep it in context though.
"There are 2000 wineries in Australia, of which 1000 are seriously viable.
"The numbers that are for sale and the numbers that turn over are not great in any one year."
"I certainly don't see any sinister motives of China wanting to take over Australia's wine industry."

ABC Rural

Kilikanoon comment: PLease let's not have any hysteria. The Chinese are discovering red wine in a big way. This can only be good for winemakers everywhere. Nathan