Petaluma winemaker Brian Croser sells Maylands Farm for $6.9m
Australian wine-making legend Brian Croser, founder of Petaluma wines, has sold his lamb-rearing Maylands Farm on South Australia’s Fleurieu Peninsula for $6.9 million.
The sale was a strong result for the 735-hectare highlands property near Parawa – about an hour from Adelaide – after it had been listed with a $6 million asking price.
It is understood the buyer is an Australian expat who comes from Adelaide. It was sold on a walk-in, walk-out basis.
Selling agent Paul Clifford from Elders Real Estate declined to comment on the sale. Bernard Booth Real Estate was co-agent. The Croser family could not be reached for comment.
Demand for high-quality beef and lamb has surged in recent years due to rising consumption of protein-rich products in Asia and this is pushing up rural property values.
A recent report by Colliers International highlighted growing demand for lamb-based enterprises from both local and international buyers looking to expand their operations, as well as from first-time operators.
Maylands was bought by the Croser family in February 2003, soon after it lost control of ASX-listed Petaluma, following a $230 million hostile takeover by food and beverage giant Lion Nathan.
The farm breeds lambs from a composite sheep known as TEFRom, which the Crosers introduced to Australia from New Zealand.
At the time they bought Maylands, the Crosers had founded another wine label called Tapanappa in partnership with Champagne house Bollinger and the Cazes family, famous winemakers from Bordeaux. In 2014, they regained control of Petaluma.
Adjacent to Maylands, the family established the Foggy Hill boutique vineyard, the first in the lower Fleurieu Peninsula after Parawa was identified by the Crosers as an excellent cool-climate region for growing pinot noir grapes.
Standing on six freehold titles, Maylands includes two homes, two shearing sheds, three cattle yards, other sheds and workshops and plenty of water infrastructure through dams and stock water.
It was sold as a grazing proposition suitable for sheep, beef or dairy cattle.
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