Real Estate
1 December, 2025
Bidding misses reserve price at ex-vineyard auction
BIDDING failed to match strong pre-sale interest when the 219-acre former Turners Crossing vineyard went under the hammer.
Owner Phil Bennett heading to retirement, pulling out the award-winning shiraz and cabernet vines after more than 20 years in the industry amid a downturn in demand for grapes for wines sold on the world market.
A single bid of $4500 an acres was received by auctioneer Luke Nevins, of FP Nevins and Co, Inglewood, before the property was passed in on a vendor bid of $6000.
Both prices were below sales in the district in recent years, some properties fetching up to $12,000 an acre.
Thursday’s auction saw a strong turnout of neighbouring farmers and while the property did not sell, Mr Nevins said negotiations were continuing.
Mr Nevins said: “Turners Crossing has some of the district’s best quality soils, with position on the Loddon River, with serious underground watering infrastructure still available.”
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