Vineyard sales pick up

Vineyard sales for one real estate firm in Marlborough have picked up considerably over the past year.

Bayleys viticulture and rural lifestyle salesman John Hoare said several sales had taken place in the past 12 months, including distressed sales, such as bank sales, mortgagee or receivership sales.

The agency had sold 14 vineyards in Marlborough in the past year. Some sales were still in progress, and some had gone unconditional.

"The sales have indicated values of between a low of $50,000 per planted [canopy] hectare to a high of $150,000 per planted [canopy] hectare," Mr Hoare said.

The price paid per hectare depended on location and vineyard condition, which included factors such as soil type, water supply for irrigation, grape varieties, frost risk, and whether the vineyard was being sold free of a grape supply or included supply contracts.

Windsor Vineyard in Hawkesbury Rd, Blenheim, was sold for $1,730,000 last Friday. The 16.6ha sauvignon blanc vineyard was bought by a Marlborough wine company free of a supply contract.