Palandri Investment Management has launched a managed vineyard investment scheme in Australia. The unit of Western Australian wine maker Palandri Ltd will manage the project but will subcontract the day-to-day management of the vineyards to Palandri Wine Production Ltd.

The new project consists of 3,122 vineyard lots, each of 0.05 hectares, located around Western Australia that can be purchased by investors in Australia, the company said yesterday (19 May) in a statement.

Palandri Investment will receive gross management fees of A$11.239m over the first three years, with annual fees to follow.