A vineyard labour company is selling off its 350-bed worker complex in Blenheim to investors, allowing the company to focus on its bread and butter; providing labour. MyFarm Investments, which offers property syndicate opportunities to investors, confirmed this week a syndicate is raising $16m to buy the State Highway 1 property, with a $50,000 minimum investment. MyFarm sales manager Grant Payton said ongoing investment in the region’s vineyards meant investing in the housing of vineyard workers was a logical step. They bought Duncannon in 2016 and the complex had grown alongside the increasing demand for vineyard labour in Marlborough. Supporting the accommodation of the seasonal labour supply gave vineyard investors more confidence, with a model that could be replicated in other regions and sectors, Payton said.

Source: Stuff September 08, 2020 04:16 UTC