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SOUTH AFRICA: International interest in Constantia winery

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Constantia Uitsig has become the second high profile Cape wine farm to be put on the market in as many months, this time with a price tag of R94m (US$10.94m) for 40 hectares of the 75ha property.

In the short period that the Constantia winery has been offered to prospective domestic and international buyers, about 10 people with foreign wine connections have made further enquiries, according to Pam Golding Properties CEO, Andrew Golding, who is marketing the property.

Though there had not yet been any firm offers, they included potential buyers from Australia, France and the USA, he said.

The Anglo American winery, Boschendal, near Franschhoek has been on the market since early June and has also attracted the attention of numerous foreign and domestic buyers.

Owner of Constantia Uitsig, Dave McCay, intends hiving off the 40ha, of which 35ha are under vine, while retaining another 35ha, which has an upmarket hotel, restaurants and private cricket oval.

Golding said McCay purchased the farm for R3.1min 1988. Extensive work and replanting has taken place on Constantia Uitsig, which produces about 22,000 cases of wine annually. The wines were made at neighbouring Steenberg, but a winery was planned to accommodate the next harvest.

The wines were made at neighbouring Steenberg, but a winery was planned to accommodate the next harvest. This, however, has been scrapped and the new owners would have to decide what they wanted to do.

It would cost an investor just over R2.4m per hectare for the Constantia farm, compared with about R200,000 a hectare for an average Stellenbosch wine farm.


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