PROFITABILITY and professionalism are just two words to describe “Pyramid Hill” – a property that once knew life as a dairy farm but which today operates as a commercial vineyard often producing yields in excess of 700 tonnes per year.
Of the total 130ha (321ac) of land at Denman, just over 72ha (178ac) has been allocated to the vineyard, while about 51ha (126ac) comprises grazing land.
Wine grape varieties across the vineyard comprise merlot, shiraz, chardonnay, semillon and verdelho.
Last year (2013-14), the property yielded 730.99 tonnes, with other notable historic yields including 756.83t in 2011-12, 750.65t in 2008-09 and 758.04t in 2003-04.
Meares and Associates chief executive Chris Meares – who is handling the sale of the property – said a lot of the other vineyards in that area were lifestyle properties, but this was of a different calibre.
“This is a serious business which, every year, has made money,” Mr Meares said.
“It has been a profitable business.”
The vineyard has been a commercial supplier of wine grapes which have also been processed for their own label, “Pyramid Hill”.
The property was purchased by the current owners in 1996, and the current manager has also been on the property for the past 17 years.
The owners are selling in order to wind up as part of generational change, and “Pyramid Hill” has been listed for private sale at an asking price of $3 million, which Mr Meares said was based on the sheer productivity of the vineyard, as well as the quality of the development and the location itself.
“We think it should get some good industry support, and given the fact that it is profitable and is a bankable investment, it may attract new investors as well,” he said.
“Naturally, the owners have done a lot of improvements, but these improvements have all been done very well.
“The vineyard really has been planned on a professional basis.”
Mr Meares said the fact the vineyard had been established with long rows enhanced harvesting and maintenance efficiency.
“Pyramid Hill” is about five kilometres south west of Denman, with soil types ranging from fine sandy loam alluvials, through to sandy red to grey loams on the higher country.
About two thirds of the vineyard grows white grape varieties while the remaining third grows red wine grapes.
“Pyramid Hill” has a 1.7 kilometre frontage to the Goulburn River along the south western boundary, from which there is a 397 megalitre irrigation licence.
Average annual rainfall is up to 650 millimetres.
The vineyard’s extensive irrigation system is computer controlled and is enhanced by an automated soil moisture monitoring system.
Further improvements include machinery and chemical storage sheds, and a workshop.
Soon after the owners purchased “Pyramid Hill”, the weatherboard homestead was renovated and extended (in both 1997 and in 2000) and now comprises six bedrooms and two bathrooms.
Highlights include two Jetmaster open fireplaces, an open plan kitchen, and outside, a lit, synthetic tennis court.
In addition is the two bedroom manager’s cottage, which has also been renovated, and comes with a slow combustion fire and a manager’s office.
Contact Meares and Associates, (02) 9362 8111.
Nick Heydon
The Land's property editor.
The Land's property editor.
