NZ: Two more vineyards forced to sell
NZ: Two more vineyards forced to sell
Feb 13, 2012 6
(Stuff) - Two more Awatere Valley vineyards are up for mortgagee and receivership sale, almost 18 months after a still-to-be-sold 128-hectare vineyard was first listed for sale by the receivers of failed wine company Awatere Vineyard Estates.
Tetley Brook Vineyard, a 50-hectare sauvignon blanc holding near Seddon, is up for mortgagee tender closing March 1, while tenders for the nearby Sedgebrook Estate's 47ha vineyard close a week later.
The two vineyards were planted in 2006 and came onstream in the years of significant oversupply and turmoil for the New Zealand wine industry.
Bayleys Marlborough viticulture sales specialist John Hoare said the two vineyards had the potential to make large revenues and were being sold at a turnaround point for the industry.
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