Hong Kong’s richest man buys Margaret River’s second-largest vineyard
A company with links to Hong Kong’s richest man, Li Ka-shing, has emerged as the buyer of the 182 hectare Edinger Estate in Australia’s Margaret River.
Per a news report from China-related wine news site Vino Joy, CK Life Sciences, the biotechnology arm of Li Ka-shing’s CK Hutchison Holdings, is the purchaser of Edinger Estate in Australia’s famous wine producing region, Margaret River.
The vineyard and wine estate is known for producing wines made from Chardonnay, Cabernet Sauvignon, Semillon, Sauvignon Blanc and Merlot grapes. The previously family-owned estate is Margaret River’s second-largest single-vineyard winery.
Reports put the acquisition price at AU$10.8 million (US$7.3 million), with the company now owning 29 vineyards across Australia and New Zealand. The 7,500+ hectares of vineyard land it has amassed in the continent makes it among the largest vineyard owners in Australasia, it said.
The company said its position had remained steady despite the many crises that have developed of late – not least for Australia the crippling tariffs levied by China.
“Protected by long leases with reputable wine companies as tenants, the vineyard business was not affected by challenges other operating units faced, generating stable and recurrent cashflow in rental income. Our tenants experienced steady demand for grapes despite ongoing trade restrictions with Mainland China, with a softening in the market for red grapes being offset by the strength of demand for white grapes,” it said.