Fine wines pour fine opportunity
One of the most awarded, yet one of the most underthe radar Central Otago pinot noir labels is Grasshopper Rock, from a single vineyard planted entirely in pinot noir at Earnscleugh, across the Clutha River from Alexandra.
It has earned a string of awards since the first vintage in 2006 and is included in the list of New Zealand's finest wines, compiled by eight Masters of Wine and Sommelier, representing some of the region's best value and quality pinot noir.
The current owners have decided it's time to retire and are excited to be leaving the vineyard and business in sound shape for new owners to take it to the next level.
The 10.49ha vineyard with 7.8ha of pinot noir vines is one of the world’s most southerly vineyards and was established in 2002.
In creating the vineyard, the owners looked for a site they believed would consistently grow premium pinot noir year after year.
With their research into the property and historical weather data, they believed the Earnscleugh site had the potential to achieve this and this has proven to be the right decision.
“Grasshopper Rock is so unique because it’s representative of Alexandra as a region — the site is very expressive.
“No matter what the season, whether it’s hot or cold, wet or dry, small crop or large crop, it always produces amazing wines. It produces exceptional pinot noir,” says Pip Battley, Grasshopper Rock winemaker.
Focusing on a single vineyard pinot noir has led to some outstanding results including an Air New Zealand Champion Wine of the Show, the Fine Wines of New Zealand listings and Grasshopper Rock pinot noir being served on Emirates Airlines.
Online sales direct to consumers are over 50 per cent of New Zealand sales and growing international sales to Australia, the UK, Canada and Hong Kong. New markets continue to develop.
“We are immensely proud of what we have achieved with Grasshopper Rock. The opportunities for new owners are very exciting.
“Globally the wine world is realising the best value and most reliable pinot noir region outside of Burgundy is Central Otago. The climate and soils are perfect for consistently producing world-class pinot noir year after year and this has proven to be one of the very best vineyard sites,” says Phil Handford, Grasshopper Rock owner and shareholder.
Topline revenue has averaged $730,000 over the past three years, showing EBPITDA year-end 2021 in excess of $260,000.
“This is a rare opportunity to own a Central Otago vineyard producing exceptional quality pinot noir. It is primed and ready for new owners to take it to the next level and continue to take Grasshopper Rock pinot noir to the world.
“This opportunity includes land, buildings, and stock,” say the brokers, Greg Dunn and Geoff Pridham.