Trophy vineyards back in flavour with buyers
Two trophy vineyard and hospitality businesses – Aravina Estate in WA’s Margaret River wine region and Bress Wine & Cider near Bendigo – have been listed for sale amid expectations of a strong 2017 autumn harvest following good summer weather.
Market expectations are around $17 million for Aravina Estate, which is being sold by WA mining executive Steve Tobin, the founder of oil and gas exploration company Terrex Seismic, and his wife Hayley, founder and owner of national recruitment firm Boss People.
The couple purchased the 75-hectare property in 2010 for $5.5 million from winemaker Michael Goundrey and have invested heavily in developing it into a popular wedding and function centre. It includes about 30 hectares of vineyards producing 250 tonnes of grapes and 8000 cases of wine.
Mike Calneggia of Gaetjens Langley, who is marketing Aravina alongside Brian Moulton of Acton South West, said having been quiet for over a decade, activity in the Margaret River region had picked up in recent times.
“We’ve had a number of transactions in the last eight to 10 weeks, a couple of overseas buyers and a few local buyers,” he said.
Close to Castlemaine in Victoria’s Central Highlands, Bress, a 27-hectare boutique property and profitable business, is being sold by wine and cider maker Adam Marks.
It features 4.3 hectares of vines and a 3.9-hectare apple orchard, restaurant, cellar door and grand five-bedroom residence. Stephen Strachan from Gaetjens Langley and Rhys Nuttall from RT Edgar are the appointed agents.
