Pristine, idyllic with an unprecedented trajectory of success and global recognition, Destiny Bay offers an extraordinary chance to “escape from the chaos and invest in paradise,” says co-owner and co-founder Mike Spratt.
He says that in a very uncertain world, this is a once-in-a-lifetime opportunity for a savvy buyer to finally make the move they’ve only dared to entertain over the years and live out their long-held dream in one of the world’s most beautiful destinations – Waiheke Island.
Located on 14.38 hectares of freehold land at the southern end of the island, Destiny Bay is not just another one of Aotearoa’s 1426 vineyards and wineries.
“We enjoy the reputation of being New Zealand highest rated and most expensive wine, which international critics and wine writers claim surpasses French First Growths, Italian Super Tuscans and California and Australia cult cabs,” he says.
Start your property search
The story began purely by chance, when he and wife Ann started the venture 25 years ago.
“We each retired from our fast-paced careers in the US. Ann was a process development engineer in the microelectronics industry and I was a senior partner in merger and acquisition advisory services at PwC,” he shares.
“We decided to move to Waiheke Island, buy land, grow grapes, make wine, have some fun and relax. All we really wanted to do was make wine we were proud to serve to our friends – now 20 years later we find ourselves producing one of the top cabernet blends in the world.”
Mike puts it down to “the secret”. Which is the fact that they had stumbled upon one of the most remarkable vineyard sites on the planet. The sheltered, north-facing natural amphitheatre, cracking clay soil and ideal Waiheke climate – thanks to the cooling air flow through the Firth of Thames – could not be more perfect for grape growing. Add to this Ann’s master’s degree in wine sciences and it’s a recipe for incredible success.
The numbers supporting Destiny Bay’s position at the pinnacle of New Zealand wines speak for themselves, care of the 2024 New Zealand Winegrowers Annual Report. Total exports in FY 2024 were 276.2m litres, worth $2.11 billion.
That works out to $7.64 per litre out of the winery or about $5.73 per bottle. By comparison, Destiny Bay’s average price out of the winery (more than two thirds are exported) is $157 per bottle and growing every year.
“This is a direct result of our reputation, quality, scarcity and global demand,” says Mike.
Destiny Bay’s average price out of the winery is $157 per bottle compared with the national average of about $5.73 per bottle.
Duty free at the airport carries all three Destiny Bay blends which sell for $835, $500 and $205 per bottle.
“We have historically been the most successful wine brand for their stores. What our patron members and collectors really become are disciples – after they leave with their wine, they go out and spread the gospel,” he laughs.
The Spratts run the profitable business like a well-oiled machine with their adult son Sean, as general manager, winemaker and IT expert, who is now looking to the next 25 years.
“He believes it’s time to begin an orderly transition of the operations and ultimately the distribution business and brand to new investors, who are excited about writing the next chapter in this fabled story,” says Mike.
What’s on offer here is the opportunity to continue producing a world-class wine as either a passive owner or active participant in operations. The Spratts intend to support grape growing and wine making, while also focusing on expanding the global community of patrons and trade partners (as well as enjoying some much-deserved downtime, travelling the country in an RV for Mike and Ann).
Four lots make up the collective offering and enjoy magnificent ocean and rural views, as well as a waterfront property and the natural amphitheatre, which just screams out for a stage, says Mike.
“There are lots of other opportunities for interesting, exciting developments on the site without disrupting this high quality operation.”
Bayleys agent Amanda Maloney says Air New Zealand placed an order a few weeks ago for 3000 bottles for their lounges and business class flights.
For anyone who has ever dared to make their dream of “chucking it all in to grow some grapes in the sun” a reality, the Spratts’ passion and 25 years of incredibly hard work means that there is virtually no risk at Destiny Bay, in comparison with all the other vineyards and wineries who participate in what is a notoriously unprofitable industry.
Mike cites one of his favourite wine industry quotes to drive the point home, “a reporter once asked the patriarch of the Rothschild family, ‘is it possible to make a profit in the wine industry?’ to which he responded, ‘ absolutely, it’s the first 200 years that are the problem!’.”
“We are very proud of the fact that we managed to achieve that milestone in less than 20 years mainly because of the reputation of our wine and the loyal support of our international patrons and trade partners.
“Ann, Sean and I expect to remain involved as long and as much as new investors wish. Destiny Bay is like our child who finally grows up. We don’t stop being parents and grandparents simply because he or she leaves home.
“This isn’t just an attractive and profitable business. It is a fulfilling lifestyle choice blessed with an emotionally compelling legacy. Our commitment to support the ongoing success of Destiny Bay will continue as long as we are asked and able to help,” Mike says.
Amanda Maloney, from Bayleys, says that along with the obvious spellbinding beauty of the location and chance to live out a dream, Destiny Bay’s reputation precedes it and this is a serious business opportunity.
“This is one of the few wineries in New Zealand that makes money – they’ve pretty much perfected wine making. Air New Zealand placed an order a few weeks ago for 3000 bottles for their lounges and business class flights. That has got to tell you something about the quality and reputation of the brand,” she says.
“The opportunity on offer here is like gaining access to owning ‘the biggest jewel in the crown’. Investors and the like will certainly see that and act accordingly.”
- Sponsored by Bayleys
