Go.Farm, an agricultural investment and development company backed by the Costa family, has put its Tasmanian Premium Land vineyard portfolio up for sale, with an expected price exceeding $50 million. The portfolio, situated in Tasmania’s cool-climate wine regions, includes a combined 825 hectares of land, of which 224 hectares are planted vineyards located primarily in the Tamar Valley, north of Launceston.
The offering includes the Middle Arm and West Arm vineyards near Beaconsfield in north-east Tasmania, as well as a 99-hectare greenfield site named Burnbrae in White Hills, south of Launceston. Burnbrae was among Go.Farm’s initial purchases in 2020 as part of its strategy to assemble a sizeable portfolio of premium land and water assets for vineyard development in the region.
Liam Lenaghan, founder and managing director of Go.Farm, emphasized that the sale aligns with the company’s original plan to create a leading vineyard portfolio in the Tamar Valley. Earlier this year, Go.Farm partnered with the global investment firm La Caisse to launch a $330 million horticulture investment platform, further underscoring its commitment to the region’s premium viticulture sector.
Industry observers noted the significance of the listing, describing it as one of the largest vineyard sales in Tasmania in recent years. Colliers agents Tim Altschwager, Duncan McCulloch, and Connor Dixon are managing the campaign, highlighting the portfolio’s high-quality development and operational efficiency.
Tasmania accounts for less than 2 percent of Australia’s wine grape production but commands the highest average grape price nationally. As of June, the state’s average price per tonne stood at $3,870, significantly above the national average of $570, according to Wine Australia, a government body monitoring the wine market. This premium pricing reflects the state’s reputation for quality, particularly in varieties such as pinot noir and chardonnay, which constitute approximately 88 percent of the portfolio’s plantings.
Go.Farm projects that annual grape production from the portfolio will reach 3,645 tonnes by the 2033 financial year, considering new planting efforts undertaken between 2023 and 2025, along with potential expansion on an additional 11.7 hectares. The properties are supported by substantial water entitlements, totaling 2,370 megalitres, and approximately 1,710 megalitres of on-farm water storage.
The sale takes place against a backdrop of broader shifts in the Australian wine industry, with major players such as the ASX-listed Endeavour Group and Treasury Wine Estates divesting some vineyards and wine brands in response to declining global wine consumption and changing consumer behaviors. Industry experts point to a trend toward premiumisation, where consumers may drink less wine overall but are willing to pay higher prices for quality products.
Go.Farm has indicated flexibility in the sale structure, offering the properties either as one comprehensive package or as separate assets to potential buyers.