Auction of Cowslip something to ponder

NZH 23Jan19 - The property includes vineyard, cattle stud, pine plantation, olives and walnuts and tourist accommodation; The cottage could be used for tourist lets. NZH 23Jan19 -

The conditional sale of a well-known Marlborough rural commercial property, owned by author and artist Mike Ponder, has been turned down by the Overseas Investment Office (OIO), resulting in it being placed back on the market for sale by auction.

The 122ha Cowslip Farm, about 22km south of Blenheim in the Waihopai Valley, has been developed by Ponder and his wife Di over the past 10 years.

The Ponder name is synonymous with viticulture in Marlborough, from the early 1990s for the production of award-winning wines; and also as early pioneers of New Zealand's niche virgin olive oil market.

Mike Ponder is also a professional artist, best known for his iconic "stockman" works; and an author, known for his non-fiction works on olive oil and art and novels, The Windsor Conspiracy and Four Kings.

The Ponders' property at 293 Tyntesfield Rd was marketed for sale in 2017 by Bayleys Marlborough, and received wide interest from local and international potential buyers.

The multi-faceted property has varied income streams including:

●about 30ha of sauvignon blanc and pinot noir vines with a commercial grape supply contract in place;

●approximately 50ha of land grazed by premium breeding cattle;

●around 40ha of pine forest with half ready for harvesting;

●300 olive trees;

●70 walnut trees, and;

●a three-bedroom cottage for use as visitor and tourism accommodation.

Early last year, the Ponders accepted a conditional offer from a private French winery owner who had intentions of running the Marlborough property as a commercial investment, in conjunction with spending several months a year residing at the residence, to oversee annual harvesting of the sauvignon blanc crop.

The purchase was subject to approval from the OIO. After nine months of investigation, the French vintner's purchase request was surprisingly declined by the Government agency.

As a result, the Tyntesfield Rd freehold land, buildings and assets are now back on the market for sale at auction on March 8 through Bayleys Marlborough.

Salesperson Kurt Lindsay says the vineyard plantings are split into 28.5ha of sauvignon blanc and 1.5ha of pinot noir. He says the crops are being sold with a supply contract to Craggy Range Wines in place and the sauvignon blanc vines annually produce 400-500 tonnes of fruit.

On the asset list is the property's 90-strong shorthorn cattle stud; along with farm and vineyard infrastructure including a hay barn, a large farm equipment and general storage shed; and two cattle yards.

The homestead, set in 3ha of garden and mature trees, is an open-plan styled, three-bedroom/two-bathroom residence with its own sleepout and internal garage. A separate three-bedroom/two-bathroom cottage on the property was fully renovated five years ago with the intention of using it either as farm workers' accommodation or for short-term tourist lets.

In the centre of the 122ha estate is a wetland area where wildlife includes ducks, swans and exotic royal spoonbills.