Three Hawke’s Bay vineyards hit the market
Three well-performing Hawke’s Bay vineyard properties have been placed on the market for sale providing an opportunity for buyers to secure one or more established viticulture operations to continue grape production, or convert the largescale landholdings to an alternative use.
The properties are owned by New Zealand-based company The Wine Portfolio which is looking to divest part of its extensive portfolio of vineyards.
Tantallon Vineyard is located at State Highway 50-Maraekakaho Road in Roys Hill-Bridge Pa within the Ngatarawa Triangle viticultural sub-region, while the Kinross Jurgen and Kinross Kent vineyards are in Omapere Road, in the viticulture area known as Crownthorpe.
Both of these areas are renowned for early cropping, with the subject vineyards having good soils and water, consistent production volumes, and producing quality fruit with a broad range of varietals suited to each of the specific sites.
Plantings include Cabernet Sauvignon, Merlot, Pinot Noir, Gewurztraminer, Malbec, Syrah, Montepulciano, Chardonnay, Pinot Gris and Viognier. Many award-winning wines have been made from grapes sourced from these vineyards for multiple wine companies around the world.
The properties have a combined land area of 334.2ha. There are no active supply contracts associated with any of the vineyards, and there are varying amounts of infrastructure across the individual landholdings, including some dwellings.
The vineyards are being offered for sale as individual lots, in some combination, or as a complete portfolio via a tender process closing 1st May through Mike Poff and Tim Wynne-Lewis of Bayleys,.
The agents say that unlike other parts of the region, these properties saw no significant damage during Cyclone Gabrielle, and given the soil and water credentials, the land could potentially be converted to horticulture or cropping ventures.
Poff says the subject vineyards are significant holdings and with the current owners rationalising their comprehensive national portfolio, there’s plenty of opportunity for a new owner or owners to gain entry to the enviable Hawke’s Bay viticulture sector or to add to an existing operation.
“Individually, these are viable, standalone productive units producing quality grapes that have contributed to some acclaimed wine.
“When bundled together, the combined landholdings would give a buyer a really solid foothold in the Hawke’s Bay market with all the most popular varietals covered off.
“There’s a documented nationwide shortage of chardonnay currently, and with Chardonnay grapes planted across all three of these blocks, astute buyers will recognise the opportunity.”
Tantallon Vineyard has streamlined access off both State Highway 50 and Maraekakaho Roads and comprises 119ha in total, with 106ha planted in a mix of Cabernet Sauvignon, Merlot, Malbec, Syrah, Montepulciano, Chardonnay, Pinot Gris and Viognier. Improvements include a tidy three-bedroom house, three bores, office, workshop, implement shed and other ancillary buildings.
In Omapere Road, the 54.9ha Kinross Jurgen block has 35ha planted in Chardonnay and Pinot Noir. The property is located on an elevated terrace headland, overlooking the Ngaruroro River and has additional land that could be planted.
The Kinross Kent block covers approximately 160ha, with 100.8ha planted in Chardonnay, Sauvignon Blanc, Gewurztraminer and Pinot Noir. This property spans both sides of Omapere Road, occupying a series of river terraces on one side and an additional square-shaped block on the other, with improvements including a four-bedroom family home, staff amenities, extensive shedding and a large workshop.
Wynne-Lewis says there has been some good enquiry to date and genuine interest from newcomers to the Hawke’s Bay viticulture market, established local grape growers, and national wine entities looking to expand operations and extend their geographical spread.
“There have only been a couple of vineyard sales and orchards transacted Hawke’s Bay in the last 12 months, so ascertaining value on these properties will be left to the tender process.
“The resilience of this land through an extreme weather event, the quality of the soils and water, and the proven production track record of the three landholdings, will ultimately dictate where buyers see the value.”
He says there has also been interest from people wanting to acquire large landholdings for apples, cropping and even solar farming to tap into the Bay’s high sunshine hours for renewable energy production.
“Productive land has always been coveted in the region and many larger wine companies are looking to the future and wishing to secure production options for the long term.
“Likewise, institutional and corporate investors are seeking diversification within their property portfolios to include valuable and proven productive land which these properties clearly demonstrate.”