A boutique winery and hospitality operation in Hawke's Bay has been placed on the market for sale by mortgagee tender.
Park Estate located on Pakowhai Rd is a winery, restaurant and function centre. The property, on two titles, is being marketed by Bayleys Hastings agents Glyn Rees-Jones and Hadley Brown.
Park Estate was started in the mid-1990s, and produced several varieties under the label of the same name. However, in recent years the business has diversified production into an organic fruit juice and beverage operation currently leasing the land and building.
The alfresco-style restaurant, with seating for 70, includes a mezzanine floor and flows to outside areas, making it popular as a function centre. It features high studs with raised Spanish-style parapets, plaster walls, concrete tile roof, and wood-framed windows.
The property has a capital value of $2,070,000, made up of land value of $885,000 and improvements of $1,185,000.