Premium NSW Cassegrain winery put up for sale
Cassegrain Wines, a winery and tourist business in the Hastings River region on the NSW Mid North Coast, has been listed for sale.
The maker of fine reds and whites is offering the 38-hectare Port Macquarie site, with offers due by December 14. Cassegrain’s winemaking team is headed by John Cassegrain, considered to be somewhat of a pioneer through his interest in establishing new regions, encouraging sustainable farming practices and exploring new grape varieties.
The Pacific Highway winery overlooks vineyards and rose gardens created by John’s wife, Eva Cassegrain. The lawns of the oval form a natural amphitheatre, where a number of concerts are held each year.
It dates back to 1980, when Gerard and Francoise Cassegrain believed the district's temperate maritime climate would be suited for the production of premium table wines.
Awards and accolades have flowed since production of the first vintage in 1984.
The couple's son, John, and his wife, Eva, in conjunction with three partners, bought the winery from the family in 2001 and embarked on a new era for Cassegrain wines.
In 2005 the then ASX-listed Simon Gilbert Wines Ltd acquired a 70% stake in Cassegrain Wines in a $3.75 million deal. John and Eva Cassegrain held the other 30%, with John continuing as chief winemaker.
The restructured Cassegrain Wines company included stakeholders James Kirby and Macquarie Bank executive Ian Johnson.
At the time SGW chief Paul Pacino told the Newcastle Herald wine writer John Lewis that Cassegrain sold about 50,000 cases of premium wine a year and had revenues of about $5.6 million.
After several internal restructures John and Eve Cassegrain regained control of the Port Macquarie Cassegrain Wines company in 2008.
The Cassegrain family fortune was initially based on the Expressway Spares spare parts and machinery repair company founded by Gerard Cassegrain on the Pacific Highway opposite the vineyard.
It’s been listed through Kevin Debreceny Real Estate Port Macquarie in conjunction with Collier International Rural and Agribusiness agents Tim Altschwager and Nick Dean.
“The sale of Cassegrain Winery presents a wonderful opportunity for purchasers wishing to establish a foothold in the wine industry or expand existing holdings through an established brand,” says Altschwager, the senior executive of Rural and Agribusiness at Colliers International.
“Its extensive improvements include a winery plant, a barrel store, cellar door, administration facilities, laboratory, bottling lines, warehouse, vineyard, outdoor function and event space.”
“The three certificates of title provide important flexibility.
“The vendors would be pleased to consider multiple expressions of interest in all or parts of the assets described.”
Dean, national consultant for Rural and Agribusiness at Colliers International, says there remains “considerable scope for further development of the 38 hectare site subject to necessary consents.”
“Application has been made to change the zoning, which would allow for more tourism facilities.”
“The founding proprietors have built a respected quality brand which is a regular recipient of industry awards.
“The property has specialised winery equipment providing a normal vintage capacity of around 1,800 tonnes.
“Existing resources could handle increased production.
“Cassegrain Wines has operated on the site since it was established in 1985 and is the nucleus of the Hastings River wine region,” Dean notes.
The agents declined to give a price estimate.
