The good oil: Award-winning olive grove listed for sale

The home of award-winning table olives and extra virgin olive oils, Hopeful Ranch, has hit the market in the NSW Southern Tablelands. 

The premium landholding at 3326 Peelwood Road, Peelwood, which has been the headquarters of the renowned ALTO extra virgin oils and table olive products since 1999, spans 745ha across three freehold titles and has been listed for sale via an expressions of interest campaign. 

Highly regarded for its table olive varieties including Arbequina, Black Italian, Correggiola, Frantoio and Hardy’s Mammoth, the brand also supplied some of  Australia’s top restaurants, including Sydney’s Saint Peter, Rockpool in Melbourne, as well as Parliament House in Canberra. 

The estate is home to about 20,000 olives trees. Picture: realestate.com.au/buy

Managing director Robert Armstrong’s association with the landholding dates back many decades, and when he bought it as a sheep farm from his stepfather, he had already been visiting the farm for 50 years. 

“I was very pleased to come and ultimately buy out my stepfather and I wasn’t interested in sheep – I was very interested in olives, so I started planting olive trees,” he said. 

“It was just taking three big steps and putting a plant in the ground, and we soon realised that we had to become more professional and over time every planting we did was in a far better space than where we began.” 

Mr Armstrong’s interest in olives was sparked from his years running a restaurant in Singapore where he learnt about olive oil. 

The property has been the headquarters of the ALTO business since 1999. Picture: realestate.com.au/buy

When he took over the farm, he said the trend was to grow wine grapes – which he was tempted by – but chose to plant olive trees instead.  

 “It has taken us a lot of study and a lot of learning how to make really beautiful table olives.  

“Now we have about five people working there, pretty much full time.” 

The Southern Tableland’s good climate with its reliable rainfall of about 700mm a year, coupled with a decent temperature range and soils, have proved an ideal mix for growing olives, he said. 

In 2025, the national olive harvest reached approximately 125,000 tonnes, producing 14.5 million litres of oil. Picture: realestate.com.au/buy

Now almost 26 years on, and aged in his 80s, Mr Armstrong and his wife Emilia are planning to move near the ocean. 

After living and working on site for decades, he said he will miss the connection with nature the most. 

“When we started, there were very few trees. It was very barren,” he said. 

“Ever since the beginning, we’ve been planting not just olive trees, but every sort of tree you can imagine and of course, once you do that, you attract all of the birds – there is a massive bird life.  

There are two historical homesteads on the property, with the main 1870s built residence featuring six bedrooms. Picture: realestate.com.au/buy

“We also have loads of kangaroos. It’s just a wonderful environment.” 

He said the enterprise would suit a buyer keen to operate something that is relaxing and is more than just a working business, and who has an interest in horticulture. 

In addition to 20,000 olives trees, the agricultural asset also includes two historical homesteads. The main 1870s built residence features six bedrooms and has been extended using local stone. 

The second timber and stone built residence includes a large bedroom, an attic sleeping area, fireplaces and full amenities. 

Hopeful Ranch has been listed for sale via an expressions of interest campaign. Picture: realestate.com.au/buy

Both homes offer flexibility for family living, staff accommodation or rental opportunities. 

“This is a rare opportunity to acquire a charming and highly regarded, vertically integrated turn-key rural estate in a 770-millimetre rainfall zone offering scope for diversification through livestock and potential carbon farming,” Colliers agribusiness executive Nicholas Warmington said. 

He said the listing has already generated early interest from a range of buyers. 

In addition to its mature and award-winning olive operation, Mr Warmington said the property was underpinned by its strong underlying land value supported by pasture improvement, excellent water access and livestock infrastructure.

The site is located 45km from Crookwell, 89km from Goulburn and 156km from Canberra. Picture: realestate.com.au/buy

“Preliminary assessments also indicate strong potential for carbon farming initiatives, another exciting opportunity to generate additional revenue,” he said. 

Colliers agribusiness associate director Adrienne Harvey said as well as its horticultural excellence, the property supported grazing operations, with approximately 460ha of arable grazing land and an estimated carrying capacity of 3,100 Dry Sheep Equivalent (DSE). 

“Water security is a standout feature, with 4.5 kilometres of Cooksvale Creek frontage, abundant rain-fed storage dams and 200,000 litres of rainwater storage,” she said. 

The landholding is located 45km from Crookwell, 89km from Goulburn and 156km from Canberra. 

The 3326 Peelwood Road, Peelwood property spans 745ha across three freehold titles. Picture: realestate.com.au/buy

A growing industry 

The Australian olive industry has continued to gain momentum, Ms Harvey said, with growing consumer demand for locally produced and high-quality olive products.  

In 2025, the national olive harvest reached approximately 125,000 tonnes, producing 14.5 million litres of oil, with demand for premium olive oils expected to continue to rise with consumers favouring products that highlight health benefits and quality. 

“While Australia remains a net importer of olive oil and table olives, premium producers like ALTO are well-positioned to meet the rising demand for quality, locally grown products,” she said. 

The expression of interest campaign closes Wednesday, December 3.