Renwick's Cellier Le Brun winery and vineyard, one of New Zealand's few boutique methode traditionelle sparkling wine producers, is on the market.
Resene Paints has owned the majority of Cellier Le Brun since 1994, when former Resene boss Tony Nightingale was convinced to buy the stake while holidaying in theMarlborough Sounds.
Mr Nightingale died 18 months ago and Resene Paints indicated late last year that it would put it up for sale eventually.
The vineyard, valued at $10.35 million for the land and buildings, was established by the Le Brun family in the late 1970s on 16ha of land.
It has produced award winning wines both from its methode traditionelle Daniel Le Brun range and from its Terrace Road brand which markets table wines.
The addition of a 22ha vineyard providing grapes for the Terrace Road label has increased the size of vineyard to around 40ha.
Cellier Le Brun is currently producing in excess of 24,000 cases per annum, two-thirds of which is methode traditionelle.
The property has a substantial winery and barrel hall and two underground cellars.
A restaurant, shop and office building was added in 2000 to capitalise on the growing winery tourism market.
Bayleys Realty Group viticulture specialists John Hoare and Glynn Rees-Jones are marketing the property.
Mr Hoare said there was significant value in the intellectual property associated with the winery and the value of its inventory was also worth more than is the case for a typical vineyard
Expressions of interest as a total buy out, as a going concern, or in individual parcels close on August 12.
