Bhudevi Retreat, a commercially-run sauvignon blanc vineyard and exclusive function venue and boutique accommodation, has come up for sale.
Located at Rapaura, north-west of Blenheim, the 6.3 hectares of organically-certified sauvignon blanc grapes, as well as the land and buildings are any buyers dream.
Currently, Bhudevi has an average harvest of 91.5 tonnes and has done for the past four vintages. The grapes are sold under contract to three prominent Marlborough-based wineries.
“The vineyard management is undertaken by a consultant, with the option for any new owner of Bhudevi to either continue with the existing service or bring in their own expertise,” said salesperson, Andy Poswillo.
“The vines have returned an operating surplus of $104,000 per annum averaged over the past four harvests,” continued Poswillo. “As well as producing a primary crop, the vines are an integral part of Bhudevi Estate’s hospitality operations—by offering a picture-perfect natural backdrop to the wedding event side of the business.”
Purchase of Bhudevi Estate would also come with the option of negotiating for the purchase of an additional 20-hectare vineyard linked to the property.
The property’s infrastructure includes a utility shed containing an office and toilet, as well as a shed containing the bore pump. The residential component of the estate is designed to be capable of hosting gatherings, as well.
“The function and corporate hosting venue and accommodation arm of Bhudevi Estate has been run as a high-end lifestyle business by the current owners,” said Poswillo. “However, there are several opportunities for any new owner to grow this revenue stream—such as increasing the number of weddings, incorporating the third suite inti the accommodation pool, or letting the suites out as part of a lodge-style experience, or letting them through the likes of Airbnb.”
