Hotel du Vin may have new owners this month

The Hotel du Vin in more prosperous times. Photo / Herald on Sunday

Luxury hotel and wedding venue Hotel du Vin could have new owners by the end of this month.

The hotel, in Mangatawhiri, south of Auckland, went into receivership in July.

Wealthy American Ed Aster and his wife bought the hotel in 2001 on a visit to New Zealand.

Quotable Value shows Aster's company Leeward Investments paid $8 million for the property, although it was valued at only $4.57 million at the time.

Since going into receivership the hotel has continued to operate although its management contract has changed hands.

Hotel du Vin general manager Shaun Corlett confirmed Heritage Hotel Management had decided to cut its ties with the hotel as a result of the receivership.

"They had the option to stay on or not and they decided at that point in time that they didn't want to."

Australian hotel manager Select Hotels had taken over the contract, she said.

The hotel is being marketed for sale by tender by Bayleys and is being touted as a development opportunity.

The 15ha property has 48 chalets but has resource consent approval for another 37.

"The opportunity exists to further develop the property with the resource consent approval and unlock considerable value," according to Bayleys' website.

The property also has a vineyard and spa complex.

Bayleys agent Michael Pleciak said he had received a good level of inquiries and was working with a number of parties.

He would not be drawn on the potential price tag.

QV valued the property at $8.25 million in July.

Tenders close on September 24.