Terra Vitae Vineyards

[Southern Lad]

Looks like Yealands / Marlborough Lines are selling some of their vineyards in Seddon to NZ Super Fund:

https://www.nzherald.co.nz/business/...AMDT32IHE7GWY/

Interesting to compare the sale value relative to the carrying value of TVV’s vineyards, which are predominantly in the Awatere Valley, near Seddon. NZ Herald article suggests $34m paid by NZ Super Fund for 187 ha which works out at $181,800 per ha. At June 2020, TVV had vineyard assets at a carrying value of $53.5m, which is $146,600 per each of the 365 ha owned. There will be no doubt differences in value based on grape variety, production levels, water supply, health of vines, etc. Also TVV has 57 ha in the Hawke’s Bay which aren’t directly comparable with Seddon vineyards.

There has been an increase in buying interest in TVV shares of late - last sale at 50 cents but buyers have bids in at 51 and 52. Not a lot of sellers around at present.