Australia's oldest commercial walnut orchard on Tasmania's east coast has been snapped up by Western Australia's largest wine producer. 

Canadian investment firm Stahmann Webster has offloaded its Swansea property to family-owned Fogarty Wine Group.

The sale of the 1,048 hectare property, including 22ha of grapevines, was finalised last month.

The Perth-based business already has major wine and grape production interests in southern Tasmania. 

"Our soil tests and analysis indicates we can plant up to 500ha of vineyard," executive chairman and founder Peter Fogarty said.

"We're going to do it very progressively, making sure we've got the markets before we grow more grapes.

"We don't want to muck up the Tassie market."

Stahmann Webster made the decision to sell its Tasmanian property following a review of its national portfolio.​

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