One of New Zealand’s best known wineries – home to countless Instagram-worthy weddings, an award-winning brewery and an internationally renowned restaurant – has hit the market for sale.
Tantalus Estate, on Waiheke Island, is ready to change hands, and price expectations will be high.
Bruce Aitken, who developed the estate over a 10-year period with his wife Donna and his son Campbell and Campbell’s wife Carrie, said it was time to let a new owner put their own stamp on it, adding that the last couple of years had not been easy for the family, as it dealt with the impact of Covid.
“It was a family adventure,” he told OneRoof about his time with Tantalus. “It hasn’t aged or deteriorated. We’ve been pretty good at looking after it. You wouldn’t get much change out of $30m or $40m.”
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Recognition for Tantalus came quickly when it opened in the summer of 2016.
The family had bought a run-down vineyard on a 8.3-hectare site on Onetangi Road in 2013 with the aim of turning it into a craft brewery. But instead they embarked on a multi-million-dollar mission to turn it into a world-class winery.
The approach worked. It caught the eye of Vogue magazine and other international media, no mean feat on a island that’s teeming with award-winning wineries and restaurants.
Helicopters frequently ferry the rich and famous to the estate and celebrities, such as Beauden and Hannah Barrett, have used the location for their weddings and pre-wedding parties.
Aitken said Campbell and Carrie had spearheaded the redevelopment of Tantalus and had been instrumental in turning it into an acclaimed venue.
“We saw it was a very run-down site, and we just saw the potential to create something a bit special,” Aitken said.
The restaurant at Tantalus has won critical praise around the world. Photo / Supplied
The Alibi Brewer's Lounge: Tantalus is also home to an award-winning brewery. Photo / Supplied
“It’s in a very nice location right on the street, and we were attracted to the idea that you want a bit of wow factor. So every element, from the buildings and the gardens, the food, we wanted ‘wow’.”
The Aitkens closed the business for a year and a half while leading New Zealand architect Nat Cheshire transformed an existing building into a striking restaurant over 900sqm with decks, a conservatory pavilion, a domed brick wine cellar and boutique brewery called Alibi Lounge, and accompanying commercial kitchen, chillers, storage and bathrooms.
The family brought in high-end residential builder WG de Gruchy from Auckland to rebuild the old space to Cheshire’s design, wrapping it in a stylish steel conservatory, inserting a cool brick-lined lounge bar for the wine cellar and brewery, private dining rooms and more.
“He does nothing other than high quality, he did an unbelievably good job. He works with only the best tradesmen, and when you look at the features of the building and some of the stonework, it’s just extraordinary,” Aitken said.
Viticulturalist Chris Ward (Aitken calls him the best on the island) replaced about a third of the vines, to focus on the Bordeaux-type varietals that thrive in the local terroir.
“We’ve had some 96-point wines, so we’re very proud of that. We’ve had some fantastic vintages over the years, but coming up the 2019, 2020 and 2021 are fantastic,” Aitken said.
Architect Nat Cheshire transformed the run-down buildings on the estate into an award-winning restaurant and winery. Photo / Richard Robinson
The stonework in the wine cellar was praised by the owner as "extraordinary". Photo / Supplied
Awards have also flowed: Cheshire’s architecture picked up NZIA and Best design awards, along with a slew of magazine features. The restaurant has been awarded Best Destination Venue and supreme awards at Hospitality New Zealand’s Awards for Excellence and last year it also picked up Metro magazine’s Best Destination Venue award and a hat from Cuisine magazine. It has global wedding and travel awards, the brewery was a champion in 2021 at the Brewer’s Guild, the cellar door was a finalist in New Zealand Winegrowers’ awards and 2016 vintage wines have had rave reviews.
This summer, the Aitkens added a stylish four-bedroom home. Built to luxury holiday home standards, it is currently used for staff accommodation, solving the perennial problem for island hospitality businesses.
There is also a huge circular barn and a purpose-built 482sqm winery with offices, storage, lab and staff amenities.
The sale includes both the property – the vineyard, winery, brewery, restaurant, bar, events centre, house and buildings – and also the business operations as a going concern.
“It is very much an integrated business that works very well, so that’s why I don’t want to sell off pieces,” Aitken said.
“We’re incredibly proud of what we’ve achieved – a first-class business in a great location.
“It has a huge amount of potential, but sometimes you need a different set of skills to run a business. We’ve gone through the development phase and I think it’s been very successful. Now we want to stand back and say, ‘OK, maybe there’s someone else out there who’s got a different vision or a different idea of how to run the place’ and dig into the next stage,” he said.
Poderi Crisci estate is also for sale on the island. Photo / Supplied
Aitken said it was tough to let go, but the family was ready to see what can be achieved next. “I always think life’s a bit like reading a book. You end a chapter and you turn the page and then onto the next,” he said.
Tantalus is listing with Ray White Waiheke owner Matthew Smith. He said a new owner would be able capitalise on what has already been established. “The successful buyer will be able to walk in and continue trading without spending years in development. There is nothing quite like Tantalus in existence on Waiheke,” he said.
Waiheke has seen some high-profile sales of vineyard land in recent years, although land and business opportunities are less common. Smith is also marketing for sale the Poderi Crisci estate, with the vineyard, restaurant, wine bar and homestead on 7.7ha at 205 Awaawaroa Road, on the southern end of the island.
- Tantulus Estate, 70 - 72 Onetangi Road, Onetangi, Waiheke Island is for sale by tender
