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<\/p>\nThe assets belonging to Elephant Hill in Hawke\u2019s Bay have been placed on the market with no guide price as the economics of New Zealand winemaking begin to unravel, according to one industry figure. db reports.<\/p>\n
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A buyer is being sought for Elephant Hill in Hawke\u2019s Bay, including the estate\u2019s winery, cellar door, restaurant, vineyards, business assets, intellectual property, and wine inventory.<\/p>\n
The estate is available either as a going concern or may be sold off as individual assets, according to investment company Colliers, which is managing the sale. The property listing states that the sale provides \u201cexceptional flexibility for purchasers seeking exposure to one or more segments of the wine, tourism, hospitality, or property sectors.\u201d<\/p>\n
No price guidance is being given for the assets, with interested parties encouraged to submit their best offers, suggesting that the owners may be looking to complete the sale quickly.<\/p>\n
Unravelling economics<\/p>\n
Speaking to the drinks business last month, Euan Mackay, MD for UK distributer Fells, said that the wine oversupply in New Zealand would make itself felt \u201cfrom this vintage\u201d.<\/a><\/p>\n In many ways, Mackay said, \u201cthe global market is moving faster than the wine world can cope with. It\u2019s why there are lots of producers in Australia and New Zealand saying: \u2018I\u2019ve got a whole lot of wine that I don\u2019t know what to do with,\u2019 from plantings they made five to 10 years ago. The economics are beginning to unravel.\u201d<\/p>\n However, Hawke\u2019s Bay in New Zealand\u2019s North Island has experienced tiny, high-quality vintages in recent years. Many winemakers in the region saw their harvests shrink in 2023 following the devastation wrought by Cyclone Gabrielle. Phil Brodie, winemaker for Te Mata, told db that due to the cyclone, its total harvest for all grape varieties in 2023 was \u201cabout 50% of a usual year\u201d.<\/p>\n Hastings District Council mayor Sandra Hazlehurst revealed to db that \u201cmore than NZ$1.2 billion dollars worth of damage was done to our region\u201d as a result of the storm, and that Hawke\u2019s Bay had \u201cspent the last two years in full recovery.\u201d<\/a><\/p>\n Flood damage<\/p>\n Much of the damage was caused by flooding, which deposited huge amounts of silt and debris on the region. \u201cMasses of water came down\u2026 it was an all-out assault from the rivers,\u201d said Hazlehurst. \u201cAll our trees and vineyards were neck-high in silt. Paddocks, fields and vineyards were absolutely decimated.\u201d<\/p>\n Clearing the silt alone cost Hastings around NZ$228 million.<\/p>\n That being said, in 2025 wine volumes began to rebound, with Hawke\u2019s Bay Winegrowers chairwoman Sally Duncan confirming that \u201cover 32 million bottles\u201d were expected to be made from that vintage. This year, Hawke\u2019s Bay experienced its earliest ever harvest start date, kicking off around 10 February, and according to Jancisrobinson.com<\/a> \u201cthe consensus is that volumes will be less than average, particularly so in the shadow of the abundant 2025 harvest.\u201d<\/p>\n What might attract a buyer to Elephant Hill?<\/p>\n Located on the Te Awanga coastline in Hawke\u2019s Bay, Elephant Hill overlooks the Pacific Ocean towards Cape Kidnappers. Established in 2003 by Roger and Reydan Weiss, \u201cfew properties in New Zealand combine world-class wine, luxury hospitality, architectural distinction, and coastal beauty as seamlessly as Elephant Hill,\u201d claims Colliers.<\/p>\n The estate\u2019s three diverse vineyards include 24 hectares planted at Te Awanga, 17.61ha at Gimblett Gravels, and 17.27ha at Bridge Pa, with Sauvignon Blanc, Chardonnay, Pinot Gris and Viognier on offer for white winemaking in addition to Merlot, Cabernet Sauvignon, Cabernet Franc, Syrah and Malbec for reds. All three vineyards are certified by Sustainable Winegrowers of New Zealand.<\/p>\n Elephant Hill\u2019s wine offering is undoubtedly a premium one, with the producer\u2019s top wine, the red blend Hieronymous, retailing for up to NZ$200, depending on the vintage, while its Salom\u00e9 Chardonnay is priced from around NZ$95.<\/p>\n A future beyond wine?<\/p>\n Hadley Brown, director of rural at Colliers Hawke\u2019s Bay, said the Elephant Hill sale offers opportunities that extend well beyond wine.<\/p>\n \u201cWhat makes Elephant Hill particularly compelling is its ability to support a variety of future visions. For one purchaser, it may represent the continuation and expansion of an established premium winery. For another, it could become a luxury tourism destination that builds on the region\u2019s growing international profile,\u201d Brown said.<\/p>\n \u201cOthers may see the potential to further develop the hospitality offering, expand accommodation experiences, grow the events business, establish a high-end retreat, or create an agritourism enterprise that leverages the property\u2019s unique coastal location and existing brand recognition.\u201d<\/p>\n Mike Laven, rural & agribusiness special projects advisor at Colliers, added that the Elephant Hill brand could also be attractive to both domestic and international wine companies looking to add to their existing portfolio.<\/p>\n \u201cThe Elephant Hill brand and associated wine business do not need to remain tied to the Te Awanga property,\u201d he said. \u201cThe intellectual property, wine inventory, and brand assets can continue to operate under separate ownership and from an alternative production facility, creating flexibility for purchasers seeking to acquire either the premium wine brand, the underlying property assets, or both.\u201d<\/p>\n Related news<\/p>\n \n \n
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