Marlborough wine company Sacred Hill is seeking $12million capital from investors to develop a large-scale sauvignon blanc vineyard.
Bartletts Creek is a bare block in the Wairau valley which Sacred Hill plans to convert into a 166ha canopy sauvignon blanc vineyard during the next two years.
Established in 1986, Sacred Hill operates vineyards in Hawkes Bay and Marlborough and is in partnership with rural investment company MyFarm to develop Bartletts Creek.
Sacred Hill managing director David Mason said the lease model frees up Sacred Hill's working capital, allowing it to focus on marketing and exporting its wines.
AdvertisementAdvertise with NZME.
''The grapes from Bartletts Creek will be destined for the American export market,'' he said.
The minimum investment is $100,000 with projected returns increasing from 5% in years one and two to 8% from year three. Projected capital gains were 12%-25% as a result of development.
Mr Mason said investors could purchase units in Bartletts Creek Vineyard Ltd partnership, which would own the new vineyard, and receive a lease rental from Sacred Hill once the property was fully developed.