Centuria Capital Group subsidiary Primewest has acquired a six vineyard portfolio for $8.2 million. Is a 10 year NNN sale and leaseback to Accolade Wines. Image: Supplied.
  • Expands the Primewest Agricultural Trust No. 1 to 11 assets worth $115.2M
  • Total land of 113.74 hectares
  • Sale and leaseback to Accolade Wines

A portfolio of six vineyards across eight separate properties has been acquired by Centuria Capital Group (ASX: CNI) subsidiary Primewest.

The details:

  • Six vineyards across eight separate properties
  • Non-contiguous land
  • Total 113.74 hectares
  • 223ML of water assets
  • 10-year triple net sale and leaseback term to Accolade Wines

The $8.2 million vineyard acquisition was secured on behalf of the Primewest Agricultural Trust No. 1 (PWAT1), which expands the Trust’s portfolio to 11 assets worth $115.2 million.

The estates provide a collective 74.95Ha of planted vines. The water assets are held across nine separate entitlements and are irrigation sources that support the crop production of the vineyards.


Region Planted Area (Ha)


Resurrection Vineyard

Barossa Valley 17.55 Grenache, Mataro, Shiraz
Evans Vineyard Coonawarra 15.31

Cabernet Sauvignon, Merlot, Shiraz

Hanlin Hill

Clare Valley 21.66 Malbec, Riesling, Shiraz
Stobie Clare Valley 5.63

Riesling, Shiraz


McLaren Vale 9.13 Cabernet Sauvignon, Merlot, Sangiovese, Shiraz
Petaluma Gores Road Adelaide Hills 5.67

Chardonnay, Pinot Gris, Pinot Noir

“This was a rare opportunity to secure a viticultural portfolio across five well-regarded South Australian wine regions, famed for producing internationally renowned wine varieties,” said Andrew Tout, Centuria Head of Agriculture.

“Each estate is meticulously managed, with all vines hand-pruned; an element that facilitates in the production of ultra-premium wines such as St Hallett Blackwell Shiraz and the Petaluma Hanlin Hill Riesling, which recently received a James Halliday wine rating of 98/100.”

The Accolade Wines sale and leaseback is the second transaction between Primewest and one of the world’s leading wine companies. Mid-last year, winemaker, Rolf Binder, simultaneously sold his renowned brand to Accolade Wine and his Barossa Valley vineyard to PWAT1. Accolade Wines currently leases this vineyard from the Trust.

“The sale-and-leaseback arrangement for these well-cultivated vineyards provides Accolade Wines with capital to reinvest in our premium wine production,” said Matthew Adams, Accolade Wines’ General Manager, Strategy and Transformation.

“Importantly, it also locks in grape supply for flagship brands in our premium range, ensuring we can continue making the great wines that our customers love,”

“Accolade Wines has a proud heritage that has grown from humble beginnings in South Australia to a global market, with our labels found on dinner tables and restaurants around the world. Primewest understands the intricacies of the agricultural property market, and it’s a pleasure to be working with them again.”

The Accolade Wine portfolio transaction was settled in late July 2022 and was funded with existing cash reserves and debt.

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