Margaret River winery Clairault is all set to finalise the sale of its winery, following its agreement with a prospective buyer.

The contract of sale is proposed to have been signed for the winery and assets, vineyard and brand with a producer who has vineyards in the region, reported

Clairault general manager Conor Martin said he will not disclose the details of the agreement and the likely new owner until the closing of the final deal, and cleared the speculation that the new proprietor is not a Chinese company.

"An experienced Margaret River winemaker who intended continuing to make Clairault an increasingly successful brand," Martin said refering to new owner.

Martin, however, confirmed that the buyer was not from China, against the speculations, as more and more Chinese players are entering the region’s wine industry.

US real estate developer John Streicker could be the prospective buyer, who according to the website, has offered $12m for Clairault takeover.

Though the proposed price is significantly lower than the Clairault’s asking price of $25m for the entire assets, the offer is expected to be the first serious statement of confidence in the Western Australian wine industry, which is being wrecked by shrinking margins by most wineries.