Malaysian horse racing tycoon snaps up Southern Highlands winery
Malaysian horse racing tycoon Teo Ah Khing has added to his NSW Southern Highlands trophy cabinet after paying $4.85 million at auction to acquire Southern Highland Wines, a 33-hectare winery and wedding venue in Sutton Forest.
The property at 42 Oldbury Road, which includes about 12 hectares of cool climate vineyards, a cellar door and winery, 70-seat restaurant and 120-seat function centre, was put up for sale by the Rossi, Corradi and Colloridi families, who established the business in about 2000, but have decided to part ways.
It was acquired by Teo Ah Khing, a one-time University of NSW architecture student, through investment vehicle Gumuny Holdings.
In 2014, Teo Ah Khing bought Sutton Forest trophy estate The Chase on 40 hectares for $5.8 million from western Sydney real estate franchise tzar, John Starr.
He is the chairman of Desert Star Holdings, the parent company of the highly successful China Horse Club, which owns stakes in 2015 Caulfield Guineas winner Press Statement, Golden Slipper winner Vancouver and dual group one winner Pride Of Dubai.
Wearing his architect’s hat, Teo Ah Khing’s TAK Design Consultants designed the 1.5 km grandstand at Meydan Racecourse in Dubai, which opened in 2010.
BIGGEST TROPHY
Gumuny Holdings’ acquisition of Southern Highland Wines is one of the biggest trophy rural estate deals of the summer in the Southern Highlands, where a number of prominent properties have hit been re-listed recently amid better market conditions, including Rona Lodge ($6.5m-$7m) and Attunga Grove ($6.5m), though both have reduced price expectations.
Southern Highland Wines is run by winemaker Eddy Rossi, who produces wines under the SHW Estate and Oldbury Reserve labels. The winery, restaurant and function centre were designed by Baxter and Jacobson Architects.
The irrigated vineyards are planted with a mix of grape varietals including sauvignon blanc, shiraz and pinot noir.
It sold through George Southwell of Ray White Rural Yass/Canberra. “Its a very good result. We had an excellent level of inquiry from Australian and overseas buyers,” he said.
Across the Southern Highlands, Mr Southwell said there was a good level of inquiry given low interest rates. “A rural property with secure water and secure income makes for a good investment,” he said.
