The Macquarie Group has signalled its intention to develop into a ‘major wine grape player’ by purchasing the 650 ha Chalmers Vineyards near Euston in NSW through its proposed Macquarie Diversified Agriculture Fund. The vineyard’s founder, Bruce Chalmers, will join the fund’s asset advisory committee, as it seeks to increase in scale to at least 5% of the total winegrape market, Macquarie’s minimum target. The vineyard produced more than 15,000 tonnes this season (around 1% of the national crop) and could be increased in size by 600 ha on the existing site. It is largely planted with pinot grigio, chardonnay, merlot and shiraz and its major current customers include Casella, Fosters and McGuigan Simeon. Chalmers Vineyard uses water with exceptional efficiency, producing above-average yields with annual water applications below 4 ML per ha. It will also have enough water to carry over for next season allowing optimum irrigation even if low allocations persist. In addition to agreeing to maintain the same sustainable principles introduced by Chalmers, Macquarie has also pledged to maintain the conservation and preservation of native flora and fauna on the property, including 2000ha of ancient river red gum forest and bushland.
