One million acre wine site for sale18th July, 2011 by Alan Lodge
A near-one million acre site in Argentina deemed to be perfect for vine growing has gone on sale for Â£6 million.
The 989,000 acre plot is the biggest ever to come up for sale in the world and is three-and-a-half times the size of Hong Kong.
The Estancia Punta del Ague – which translates as the Estate of the Tip of the Water – is sited in the San Juan province in western Argentina and is close to the Chilean border.
Its wine-growing potential has already reportedly attracted the interest of prospective buyers from all over the world, including the UK.
The site is currently having a road built through it which will connect it to the Atlantic and Pacific Oceans as well as giving access to Chilean ports in just four hours.
The area contains two rivers, aiding irrigation, and it will soon be linked up to the local electricity network.
Ken Jones, from estate agents Savills, said: ‘This is probably the largest ring fenced freehold block of land to be offered for sale in the open market ever.
‘It hasn’t been farmed for about 25 years because there was a rural depopulation when things started to get tough.
‘There used to be a school with 300 pupils and who ever bought it could build homes suitable for staff, but there are some restrictions.
‘It does need electricity and until it is connected that would have to come from a generator.
‘There are two rivers that go through the land so irrigation wouldn’t be a problem.
‘It is probably not too good for cattle but a range of cash crops could be grown there and there are areas that would suit vineyards.
‘It is owned by a multi-national family and they’ve now decided to sell to generate income for their other projects.
‘We estimate that about 60% of the land could be farmed and a new road through the north of it will link it to the Brazilian Atlantic Ocean and the Pacific Ocean off Chile.
‘It will mean that Chilean ports are just four hours away and that opens up the whole Chinese and Asian markets.
‘We feel, once implemented, not only will the owner have one of the largest farms in the world, but also will have added value far beyond the cost of the scheme.
‘It is a serious chunk of land at just six pounds an acre and we have had a great deal of interest.’