Asking Price for Hunter Valley Biodynamic Vineyard Cut in Half

The owners of the Hunter Valley’s highly regarded Krinklewood Biodynamic Vineyard in Broke have cut their original asking price by half to secure a sale.

Originally asking $10 million in December 2017, owner Rod Windrim and his family are now entertaining offers above $5 million, according to selling agent Alan Jurd of Hunter Valley vineyard specialists Jurd’s Real Estate.

Mr Jurd said at an asking price of around $5 million, the vineyard would sell.

“The market has picked up in the last few months. There’s a lot of interest from Sydney buyers,” Mr Jurd said.

A higher price, even around $10 million, might have been achievable a few years ago, when Chinese investors were active in the Hunter Valley.

However, that activity has tapered off alongside the capital restrictions imposed on Chinese mainland investors by the Chinese government.

Krinklewood covers 57.5 hectares at 712 Wollombi Road in Broke, west of Pokolbin.

It includes a 20-hectare organic vineyard (plus winery and cellar door) at the foot of the Brokenback Ranges.

The organic vineyard was planted by Mr Windrim in 1998 and produces classic Hunter Valley varietals including Semillon, Chardonnay, Verdelho and Shiraz using sustainable practices and without the use of chemicals.

It has the capacity to produce over 10,000 cases a year.

Also included in the offering is a Georgian-style homestead with provençal garden, tennis court and swimming pool, a cellar door and modern winery, shedding, managers accommodation and temporary workers accommodation.

There are also cattle grazing paddocks, an olive grove with about 300 trees and an abundant supply of water through a Broke Fordwich Private Irrigation District (PID) allocation of 80 megalitres and seven storage dams.

Mr Jurd said Broke and the other districts of the Lower Hunter Valley that receive water from the PID were dry, but looking green.

Mr Jurd is selling Krinklewood alongside colleague Cain Beckett.

The most recent prominent vineyard sale in the Hunter Valley was the 40-hectare Echo Ridge Vineyard at 534 Oakey Creek Road which sold for $2.6 million to a Sydney-based buyer in June. The vendor was Sydney fund manager Michael Alexander Hill.

SOURCE: The Australian Financial Review
POSTED: September 29, 2019
AUTHOR: Larry Schlesinger

@Luxury Estates – experts on visionary marketing of Australia’s most luxurious real estate for sale