HI Jeremy, my thoughts on site selection were based on observing
1. In Victoria sites on the western slopes of the Great Dividing range (King Valley through to the Yarra) are experiencing regular smoke events, and this problem will increase rather than decrease in the future
2. Mornington is crazy expensive, as is anywhere near the coast to get a maritime moderating effect on the climate, so you have to go up.
3. Water, is as always critical, and surface flows to variable, so groundwater is the key, to secure droughtproofing
4. Strong soils, with good secure rainfall above 700mm a year to reduce irrigation dependence
5. Within 1 1/2 hours of Melbourne to attract the groovy young winemakers away from their Collingwood pads
6. Have a beautiful site, as it makes the working more pleasant
7. Mid weight reds and alternate whites are a premium, so Pinot Noir, Gamay and assorted Italians, ie things I like to drink (see point 6)
As always the plan is good on a spreadsheet, devil is in the detail, am about to start ripping 8 ha next week for planting this spring. The fruit is all committed. Ended up on an extinct volcano, north of Ballarat. Meets all requirements.