FOSTER’s Group has signed new leases over the Cocoparra and Woods Vineyards located in Griffith, New South Wales.
Challenger Wine Trust had previously leased the vineyards to Cranswick Estates, a fully owned subsidiary of Evans & Tate Limited.
The FGL lease mirrors the balance of the previous Evans and Tate lease, including the initial term expiring in 2013 and two five year options to renew. Following execution of this lease, FGL now occupies nearly 4% of CWT’s portfolio.
CWT’s fund manager Nick Gill said re-leasing the vineyards on similar terms to the previous lease highlights the underlying quality of CWT’s vineyards, the strength of Griffith as a grape growing region and the wine sector in general.
Now under CWT caretaker management, the Gnangarra vineyard located in Manjimup, Western Australia, is the only remaining vineyard previously leased to Evans & Tate in the CWT portfolio.
