The Waiheke Island vineyard caught up in the Mainzeal receivership has sold for an undisclosed sum.
Richina Pacific bought Te Motu Vineyard from the Dunleavy family and shareholders in 2011 for $3.89 million, as well as the property formerly known as Isola Estate.
Richina is the parent company of Mainzeal Property and Construction which went into receivership on Waitangi Day, leaving Waiheke's Oneroa library project in limbo.
But Mainzeal's demise did not shut down Te Motu Vineyard and The Shed restaurant, where Richina told staff that "it's business as usual". Work on the vines continued, and the cellar door and The Shed remained open.
Now the sale of the vineyard has gone unconditional to a new set of buyers.
It is understood a consortium that includes more than one well-known Waiheke Islander and other Auckland investors has bought the vineyard. A staff member said: "Everyone is very happy the vineyard has gone back into local ownership."
The sale, brokered by Bayleys Real Estate agent Pat Regan, went unconditional on February 28.
"It has been sold but it's not settled," Regan said.
"No more information will be made available until after March 15, which is the completion date."
- © Fairfax NZ News
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