The property has helped produce several award-winning durif, viognier and sauvignon blanc wines from its 316 hectares, which includes 246 hectares of vineyards.

The property also features a machinery shed, manager's residence and a 40 megalitre dam and pump station.

Foley's is being marketed by Gavin Cappello of Griffith-based Cappello & Co real estate who said the land had rich heritage.

"It's an iconic property," Mr Cappello said.

"While the industry is facing challenges due to high levels of supply and the Chinese Government-imposed tariffs on exports to China, the opportunity to buy a property with this heritage and features comes up only once in a lifetime."

READ MORE

The land was first planted with merlot grapes in 1993 and has since supplied a steady stream of product to the Berton winery in Yenda.

Mr Cappello said the water rights were significant, with 1000 megalitres of high security water and 1500 secure water delivery entitlements being offered with the property.

"The water rights alone are worth in excess of $8.5 million and the land itself that same amount, so that gives an idea of how valuable this property is within the Riverina region," he said.

The property is being sold through an expressions-of-interest campaign which ends on Saturday July 30.

Mr Cappello said he expected the Griffith real estate market to remain strong despite widespread financial uncertainty and increased interest rates.

"We're behind the major cities when it comes to land supply by about two years, so that is why the market will be consistent," Mr Cappello said.

"That healthy residential sector complements the growth in agriculture, which is the largest employer in the region."

Our journalists work hard to provide local, up-to-date news to the community. This is how you can access our trusted content: