Cape Town - A historic 329-year-old wine estate on the slopes of Simonsberg in Stellenbosch is to go under the hammer in an unprecedented virtual auction next week.
The Morgenhof Wine Estate, which is one of the oldest wine farms in the country has drawn a sizeable crowd of potential investors from more than 13 countries, among them South Africa, Australia, China, Germany, Belgium, Lesotho, India, Italy, France, England, Kenya, Canada and the US.
The 210-hectare estate will be auctioned on Friday, August 25, in a virtual auction by High Street Auctions in a South Africa first joint venture with US auction company Tranzon, with a starting bid of R40 million.
High Street Auctions director and lead auctioneer Joff van Reenen said: “The magnificent Morgenhof winery is going up for auction. It has already garnered attention from both the South African and international markets. Buyers from 13 countries have registered interest in bidding for the 210ha estate.”
The Morgenhof estate is currently owned by Anne Cointreau, whose family has produced wine, Champagne and spirits in France since 1272.
Cointreau’s great-grandfather Adolphe is known for his creation of the famous orange liqueur that carries the family name and his son, the luxury Remy Martin brand of cognac.
“The Morgenhof vineyards are farmed as ‘dry land’, this results in smaller yields and superior concentrations in the berries. The estate comprises a variety of soil types, with the terroir further complimented by altitudes ranging from 40-400 metres above sea level.”
“Morgenhof’s portfolio of wines includes a mixture of reds and whites. This is an established and well-diversified business with multiple-income streams that offers a new owner with a vision, massive potential to expand.
“Substantially adding to the attraction of the estate itself is the fact that it will be auctioned on August 25, with considerable foreign exchange and assessed tax loss incentives that would be extremely beneficial to the eventual buyer,” said Van Reenen.