Wineries continue to have grape expectations

It’s an idea thrashed out over many a glass of riesling or merlot — to buy a vineyard.

And while it may seem like a pipe dream for many, for those who are more serious about making a “grape-change”, the time could be ripe to get into the market.

Jurds agent John Edmondson says demand for wineries has made some strong moves over the past 18 months, partly fuelled by increased activity across the regional NSW market as a whole.

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“Buyers from Newcastle and Sydney will usually been drawn to the lifestyle first and the chance to make a passive income second,” Edmondson says.

The veteran agent has been selling one of the state’s priciest vineyards — a 26ha, $8 million estate in Pokolbin known as Olio Mio — and said the market was also heating up due to inquiries from offshore buyers.

Demand for vineyards has increased in the last 18 months.

“You can often get multiple sources of income from a winery, including as a wedding venue and from cellar sales,” Edmondson says.

Vineyard prices can vary greatly, but roughly four in every five wineries that hit the market for sale in destinations such as the Southern Highlands and Hunter Valley list at under $5 million. The prices often include the cost of the land, grapes, farmhouse and some machinery.

For those budgeting about $1 million homes on smaller wine estates of less than 5ha are often available. But with a catch. They would usually require further investment for grapes and a cellar, along with a budget for machinery or equipment.

Here are some of the wine estates that recently hit the market for sale:

POKOLBIN

Olio Mio — De Beyers Rd

This 26ha (63 acre) estate known as Olio Mio includes a winery and olive grove, along with a Mediterranean-style residence with six bedrooms. There is also a two-bedroom guesthouse.

Olio Mio wine estate in Pokolbin.

Other features include a swimming pool, mature gardens and various outdoor entertaining facilities such as a pizza oven and terrace.

Inside the main house, floor-to-ceiling picture windows showcase views of the surrounding area. The open-plan living room has a stone wood-burning fireplace. Naturally, the home also has a large cellar.

Olio Mio has a large wine cellar.

LOVEDALE

Wandin Valley — 12 Wilderness Rd

Wandin Valley Estate in the Hunter Valley enclave of Lovedale is spread across 40ha (100 acres) of land.

Wandin Estate at 12 Wilderness Road, Lovedale.

Part of the property was built to resemble a cricket ground.

It includes multiple function venues such as The Cricketer’s Pavilion — a purpose built replica of an English cricket ground.

There are also seven European-inspired accommodation lodges. Other facilities around the estate include a tennis court, olive grove and pool. The sale includes a mature vineyard and cellar door area for wine sales. It is listed with Jurds principal Alan Jurds.

LOVEDALE

Sandalyn — 162 Wilderness Rd

Sandalyn Wilderness Estate has mountain views and, in season, the grapes give the property the feel of a Tuscan estate.

162 Wilderness Rd, Lovedale.

Set on 15ha (31 acres), the property includes a main house with three levels. The basement is used as the cellar, while part of the middle-level is a tasting area.

Smile Elite agents Isaac Fung and Ray Armstrong are expecting $2.1 million, but the price could change depending on the business assets included in the sale.

This article from The Daily Telegraph originally appeared as “Market recovery gives wineries for sale grape expectations”.