Healesville’s Giant Steps winery property for sale
A rare chance to uncork a prime vintage in the Yarra Ranges’ thriving wine community has emerged on the Healesville market.
The massive corner block at 336 Maroondah Highway, which houses Giant Steps winery and restaurant, is up for sale via expression of interest for an undisclosed sum.
Coming together in 2003, Little Creatures co-founder Phil Sexton and chief winemaker Steve Flamsteed have since built a strong international reputation for the winery, which only recently signed a new 10-year lease at the property.
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The estimated net rental income at the winery is $470,000 a year.
JLL Melbourne director Stuart Taylor says the property is expected to attract “a broad range of passive investors”.
“We expect to receive interest from a range of local, national and potentially offshore investors,” he says.
Taylor says there is “renewed confidence in the commercial property market” due to recent consecutive interest rate cuts and the May election.
“We have noticed a significant increase in inquiry and demand for assets which offer strong lease covenants,” Taylor says.
Barry Plant Healesville director Jenny Webb — not involved in the sale — says the area has become an attractive tourism and agribusiness destination.
“A range of wineries in the area surrounding Healesville have been investing in infrastructure, all of which has assisted in lifting the profile of the area and helping to attract more visitors,” Webb says.
“The Yarra Valley in general is becoming increasingly appreciated for its scenery, lifestyle and food and beverage experiences, which create opportunity and interest for people living in and visiting the area.”
Expressions of interest close at 5pm on July 18.
This article from Leader Newspapers originally appeared as “Giant Steps winery: celebrated Healesville cellar door site for sale”.