Vidal winery for sale – bring your own brand
Pioneering winemaker Sir George Fistonich is selling his Hawke’s Bay estate, and moving the production to a new winery a few kilometres away.
The sale includes the land, equipment, buildings, and restaurant linked to Vidal Estate, which was one of New Zealand’s first wineries.
Vidal Estate was established in
1905 by young Spanish migrant Anthony Joseph Vidal, who planted grapes in Hastings, and set out to establish a wine empire.
Now, 113 years later, the foundations of his empire are up for grabs, as the company moves production to the Te Awa Winery and Restaurant on State Highway
50, located about 14 kilometres from Vidal Estate.
The property, which spans about 10,300 square metres on Avenue Road East in Hastings, includes a winery, restaurant and function centre, and five houses.
The Vidal Estate wine brand name is not part of the sale.
Fistonich said he decided to sell the Vidal restaurant, event space and winery as they had outgrown it, but also faced challenges being nestled in a residential area.
‘‘It was a difficult decision as Vidal was not only our first restaurant, but it was the first winery restaurant in New Zealand, so it holds a lot of history for us and the wider wine industry.’’
The Vidal restaurant and cellar door will remain operational until the end of June 2018.
There had already been interest from potential buyers, who would look to retain the restaurant and events centre, as well as use the winery for boutique production, Fistonich said.
The new winery meant premium grapes from Gisborne and Hawke’s Bay could be processed in one place for the Villa Maria family of wineries, which includes the Villa Maria, Vidal Estate, Esk Valley, Thornbury and Te Awa brands.
Bayleys Hawke’s Bay salesman Paul Garland said there was a lot of potential for the wine portfolio.
The most obvious use was to continue both the winery and restaurant and function room operations as is, under a new name, Garland said.
‘‘Alternatively, a new jointownership model could see a winery label utilising the winery amenities, and a separate hospitality entity running the restaurant and function venue.
‘‘Or the entire portfolio could be secured by an entrepreneur or investor who could purchase the location and assets then lease out the two revenue streams, [which] would leave any new owner the potential to bring on board additional retail tenants such as a craft brewer, cider, honey farm or perhaps a gourmet food store.’’
Vidal Estate was New Zealand’s first winery restaurant when it was opened in 1979 by then prime minister Sir Robert Muldoon.
Vidal Estate’s winery produces about 1200 tonnes of wine per season. The equipment being sold in the portfolio would enable the new owner to operate from a 500to 600-tonne winery, Garland said.
‘‘All they will need is a new brand name. Under a new ownership model, there is ample opportunity to increase production . . . by sourcing contract-grown grapes from within Hawke’s Bay, or crushed juice from outside the region.’’
As for the five residential houses, they could be converted into a lodge or village-style accommodation, Garland said.
‘‘With a shortage of residential dwellings in Hawke’s Bay, the underlining residential zoning of the winery could also be of interest to residential property developers.’’