$50m owed on Olliver vineyard

A 1970ha Marlborough vineyard owned by a company associated with developer Greg Olliver has been put on the market three years after it was placed in receivership.

KordaMentha receiver Michael Stiassney has instructed Bayleys agent Michael Pleciak to market the property as a receivership sale. It includes 12 titles and nine dwellings.

A first mortgage is held over the property by Commonwealth Bank of Australia for $33 million and South Canterbury Finance (in receivership) for $17 million.

Other charges are held by Todd Winegrowers and joint venture Hydroco.

 

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