Adgestone Vineyard For Sale

Business description

Isle of Wight Delightful well rounded lifestyle business set in circa 10 acres.

Vines, winery, café, gift shop and up to 3 letting bedrooms. Glorious rural setting with views over countryside. Super home and income proposition. For those seeking a home and income proposition in the countryside, look no further as Adgestone Vineyard fits the bill perfectly. The purpose built cellars and winery are at the heart of the property with an adjoining house for resident owners – rather smart and unique in its layout, it will undoubtedly add extra appeal for many buyers. Up to three of the four en suite bedrooms are currently used to provide for bed and breakfast guests although they also have the flexibility to be used as private accommodation if so desired. Located on the other side, the attached café and gift shop have scenic views over the vines. This well rounded business is obviously centred around the wine, producing in the region of 15,000 bottles a year, however, it also offers self guided tours, wine tasting, strong sales of wine, locally produced fayre and refreshments from the gift shop and café, and bed and breakfast income – something for everyone. The only full time member of staff is an experienced viniculturalist and viticulturalist who takes care of the wine production, leaving the owners – who need no specialist knowledge – to concentrate on the other aspects of the business. Numbering as one of the Island’s top attractions with around 30,000 visitors a year, the personalised wine labels are especially popular. Adgestone Vineyard is reputedly the oldest working vineyard in the UK. First planted in 1968, Adgestone comprises around 10 acres in a delightful rural setting on south facing slopes in an area of outstanding natural beauty. Whilst having a wonderful feeling of remoteness with views in all directions over the surrounding countryside, Adgestone Vineyard is but a mile from the delightful village of Brading with the coast and towns of Sandown, Shanklin and Ryde but a few miles further away. Newport, the Island’s capital, is less than 15 minutes by car. Having decided to move from London and run their own lifestyle business, the present owners acquired Adgestone Vineyard in 1996 having been struck instantly by its appeal. It was clear that the business had to be rebuilt from scratch, especially as it had recently lost one of its largest wholesale customers. Seeing tourism as one of the ways to go forward, the vineyard had to be welcoming to all and hence, they set about constructing the café and gift shop. Subsequently, the winery has been refurbished with modern equipment and the implementation of bed and breakfast has added yet another dimension to this all round business. However, after ten successful years turning the business into what you see today, the owners have decided to retire and let someone else have the opportunity to enjoy this lovely lifestyle business.

THE PROPERTY
Planted in 1968, Adgestone Vineyard is a purpose built winery and reputedly, the oldest working vineyard in the UK. Of traditional construction, the adjoining house was added in the early 1990’s with the café and gift shop following suit a few years later.

PUBLIC AREAS
Overlooking the vineyard, the veranda is covered by a pergola – complete with vines growing across it as one would expect – and provides tables and seating for visitors to enjoy the fresh fayre from the café. Doors lead into the café and gift shop – the café has further tables and seating served from the food counter which has a well equipped kitchenette behind. The gift shop concentrates on marketing the home produced wines – personalised wine bottle labels are especially popular – in addition to locally produced jams, marmalade, chutneys, knick knacks and of course, ice creams. The wine cellars are open to visitors by virtue of self guided tours and wine tasting and for the more energetic, a stroll along the vines is part of the experience.

LETTING BEDROOMS
Incorporated within the owners’ house, there are three bedrooms currently being used for letting accommodation – two on the first floor and one on the ground floor arranged as one double and two double/twins which each benefit from their own en suite shower room, colour television, hairdryer, radio alarm and tea/coffee making facilities.

OWNERS' ACCOMMODATION
A particular feature of the business is the adjoining owners’ house which is quite unique by nature of its design. To the side of the property, the front door opens into a good sized and well fitted Kitchen/Dining room which is arranged in two distinctly separate areas. From the dining area, there is a door to a small laundry room, whilst further doors lead through to the extremely attractive Atrium Hall. With skylight windows and a staircase to a galleried landing, this light and airy room is used to provide breakfasts for the accommodation guests. From here, further doors lead to a private Bathroom, the owners’ Lounge – with feature fireplace and picture windows providing panoramic views over surrounding farmland – and steps down to the owners’ Office. The galleried landing has doors to the owners’ en suite bedroom and one of the letting bedrooms – both the letting bedrooms on the first floor are accessed by a separate private staircase. The third letting bedroom is located on the ground floor and has its own external access.

WINERY
The whole building is centred around the original winery and its purpose built cellars. On the ground floor, the good size store room doubles as a delivery area and leads through to the grape pressing room complete with a modern grape press. From here, stairs lead down to the cellars comprising a fermentation/filtering room complete with stainless steel vats and tanks, and a bottling room.

OUTSIDE
Located on south facing slopes in an area of outstanding natural beauty, the whole site extends to around 10 acres in total, approximately 9 of which are planted with vines. A gravelled car park provides ample parking.

SERVICES
Isle of Wight District Council. Mains electricity and water. Oil for central heating and hot water. Private drainage.

LICENCE
A Premises Licence is held that permits both on and off sales for wine only.

TRADE
The accounts, as prepared by our clients’ accountant, for the year ended 31 December 2005 show £49,301 trading profit on net turnover £138,739. Similarly, forecast accounts for the year ended 31 December 2006, project £51,000 profit on net turnover £142,000.

PRICE
Offers around £795,000 are invited for the freehold property complete with goodwill and trade contents (according to inventory) but excluding any personal items. Stock is in addition and at valuation and depending on the time of year, it is envisaged will be anywhere between £25,000 to £50,000. Please note the freehold of this property and land is subject to an agricultural tie.

ALSO AVAILABLE
During their ownership of Adgestone Vineyard, the owners have rented an additional piece of land nearby which amounts to about 1.5 acres and produces a healthy crop of grapes. Whereas the agreement to date has been somewhat informal, we are led to believe the preference is to sell it.

FINANCE
Colliers Robert Barry is in touch with different brokers and lenders specialising in all aspects of the hotel, hospitality and catering sector and will be pleased to introduce them to you.

FINANCE
Colliers Robert Barry is able to assist prospective purchasers by introducing sources of finance if required. Whilst we do not charge the buyer for this service, we may receive an introductory commission from the lender or broker involved.

TO VIEW
All appointments to view MUST be made through the vendors' agents who are acting with sole selling rights.

Property information

Property:

Freehold