Sweetwater price drop as estate fails to sell OPULENT: Sweetwater Estate, in the heart of Hunter Valley wine country at Pokolbin. The asking price has been dropped after it was withdrawn from auction this week. Picture: Supplied
TweetFacebookTHE ASKING price for luxury Pokolbin property Sweetwater has been dropped significantly after it was pulled from auction this week.
The sprawling winery estate was due to go under the hammer on Tuesday but remains on the market after it was withdrawn from auction by Jurd’s Real Estate.
Cessnock-based selling agentAlan Jurd said it was decided a better outcome could be secured through a private sale.
He said offers over $12 million were now being considered, after the propertyfailed to sellat between $14 and $20 million. It originally came with a$30 million price tag when it hit the market over 12 months ago.
Mr Jurd said there had been enormous interest in the property, from within Australia and from international buyers, but “interest and sales were two different things”.
“This is the highest priced non-commercialsale in any regional market,” he said.
“You can’t see anything much in that price range.
“If they want to sell it, they’ve got to listen to what the markets are saying.
“If you’re selling in Sydney or Melbourne, that’s one thing, but in a regional area it’sa different marketplace.”
The palatial “Sweetwater House” boasts eight bedrooms and 10 bathrooms, with private owners and guest wing accommodation.
The chateau-style villa hasfour vine-coveredJuliet balconies, deeply vaulted decorative ceilings, double marble basins in the kitchen and ochre-washed exteriors.
A year was spent sourcing the antique fixtures and fittings from Europe by Geoff Clark of The Country Trader in Sydney.
Other features includea wine cellar and cellar door,a private day spa,a plunge pool and an olive grove.
The houseis set on 122 acres of rolling countryside with six dams and39 acres dedicated to vineyards growing shiraz, cabernet and semillion varieties.
The property also comes with approval for additional accommodation and a function centre.