Kerikeri’s Marsden Estate Vineyard has sold to a British trust for $3,705,000, after 10 years on the market.
Consent was granted to Michael Endean, Richard Ashwell Palmer and Paul Young as trustees of the Mike and Shirley Endean Marsden Charitable Trust late last year, according to Toitū Te Whenua Land Information New Zealand.
The trust will acquire approximately 6.7 hectares of land at 56 Wiroa Road, Kerikeri, including the Marsden Winery restaurant business – which is being sold – along with its adjoining vineyard and winery.
LINZ says the winery and restaurant will initially be leased to a second applicant, Marsden Winery Limited, which will run both, although the restaurant may subsequently be leased to a third applicant, Marsden Winery Restaurant Limited.
“The land has been on the market for approximately 10 years and, due to lack of interest in the full property, was in the process of being subdivided to sell as lifestyle blocks which would have resulted in the restaurant closing,” says information from LINZ.
“The key benefits of this investment are the continued operation of the restaurant and winery, including the retention of jobs.”
LINZ says consent was granted as the applicant has met the investor test criterion and the investment is likely to benefit New Zealand.
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