Canterbury vineyards on the market
Several Canterbury vineyards have been put up for sale as the market for viticultural land continues picking up.
Three Sisters Vineyard, the McKean Estates Waiata Vineyard, and 157 Church Road, all in the Waipara region in North Canterbury, have joined other Canterbury vineyards for sale.
After a tough few years of low grape prices a string of Kiwi vineyards were put up for forced sale by financiers.
Marborough grape-growing land prices bottomed out at just $50,000 per hectare, well shy of their peak in 2006-07 when properties were selling for up to $250,000 per hectare.
The market began turning last year, helped by a growing demand for grapes and lower production in Europe and South Africa.
Wine-heavy regions including Marlborough, Hawke's Bay and Martinborough began to show the improvement first.
The Three Sisters Vineyard is on 17.6 hectares on Mackenzies Rd, and is owned by members of the Auckland's winemaking Leopardi family.
The property at 157 Church Rd is smaller at 6.9 ha, and owned by Peter and Felicity Parish and Peter Wood. Both are planted in several grape varieties and are for sale by negotiation through NAI Harcourts.
McKean Estates Waiata Vineyard is on 365 hectares on Innes Rd between Amberley and Waiapara, planted mainly in Sauvignon Blanc and Pinot Gris. It is for sale by international tender with a mid-July deadline, through Bayleys.
Two months ago QWIL Investments paid $46.4 million for five vineyards of 596 hectares in Marlborough, Canterbury and Otago.
The seller was the wine brand Mud House Wines land. That works out at $77,850 a hectare, but does not include the extra price paid for the winery business and the label brands.