Hunter Valley's Blaxland Estate hits the market
For decades, three of the Hunter Valley’s most prominent wine families have jointly owned a prime land parcel in Pokolbin, on a stretch of Broke Road known as the “golden mile”.
Now, those families – the McGuigans, the Petersons and the Slupiks – have decided to sell the property at 2198 Broke Road, known as the Blaxland Estate, while retaining leases on the site for their established cellar doors.
Knight Frank agent Brent Sinclair believes it’s a once-in-a-generation offering.
“The golden mile is the place in the Hunter Valley to own real estate,” Sinclair says. “It’s surrounded by world-class wineries, restaurants, resorts and entertainment venues. It’s at the centre of everything.”
Sinclair points out that the property is a stone’s throw from many of the Hunter Valley’s highest-profile attractions, including Roche Estate, Brokenwood Wines and Hunter Valley Gardens.
“It is a high-traffic area that people just love to explore,” he says.
In addition to the estate’s three cellar doors – Pokolbin Distillery, Savannah Estate and LTA McGuigan Wines – the 10.72-hectare site is home to the Blaxland Inn, a popular restaurant known for its steaks and comfort food.
The inn occupies a building constructed in 1976 using local sandstone salvaged from a nearby homestead. Several handprints made by the convicts who built the homestead are still visible.
The estate also has a homestead of its own, which is tenanted and boasts sweeping views over the vineyards at the rear of the property.
The current tenancies deliver a net annual income of $428,470 plus GST, according to Knight Frank.
Sinclair says the opportunity to acquire a fully leased asset in a high-profile Hunter Valley location has attracted early interest from investors keen to establish a long-term presence in the area with minimal effort.
“The cellar doors have all got new three-year leases, and the buildings they’re operating out of have been exceptionally well maintained,” he says. “A significant amount of money has been put into the site in recent years.”
The property could also appeal to a family looking for a trophy retreat in one of Australia’s prime leisure destinations.
“Although the homestead is currently tenanted, it could serve as a future home for a buyer looking to host and entertain friends and family while enjoying the income generated from the site,” Sinclair says.
“It’s perfect for a weekender and could also make for a charming full-time residence.”
The site is land-rich and presents opportunities for further diversification, Sinclair adds. “There’s significant future upside from re-positioning part of the site for tourism, hospitality or accommodation.”
The three families are selling in order to simplify their asset portfolios and pave the way for the next generation to take over their other Hunter Valley holdings.
Expressions of interest are being sought until November 26, with Sinclair remaining tight-lipped about the families’ price expectations.
“We’re keen to hear what the market has to say,” he says.
