Any local Niagara knowledge? I am a wine generalist so anyone with knowledge please chime in.
Queenston Mile Vineyard sold for $4.4 million. Includes real estate, chattels, equipment, inventory, a $500,000 vendor take-back mortgage and an agreement to acquire approximately $400,000 of finished goods inventory on a cost plus basis.
the following is from (https://www.notllocal.com/local-news/controversial-queenston-mile-subject-of-second-planning-appeal-6250124)
The outstanding issue with Queenston Mile, a continued sore spot with some councillors, had been the installation of commercial kitchen equipment, and the winery’s intentions of how they’re going to use it.
Councillors have said in the past they’re concerned the plan is for the winery to use their event space as a restaurant, and some councillors are still having issues with what they see as discrepancies of total capacity of people at events, inside and out. Questions about the intent of the winery have consistently elicited responses from Queenston Mile representatives, from the earliest discussions, that there is no plan for a restaurant. They want to be able to offer food and wine pairings during tastings, and they may use the kitchen for special events, but not to serve patrons in a restaurant dining room, they have repeatedly told council.
But more importantly, they (DWS) like what Queenston Mile and Creekside have to offer in the way of “premiumizing their portfolio.” Equity Wines “come to the party with skills, production and interesting brands they like. We will add to what they have, and their capability of selling premium wines.”
Is $4 million a reasonable amount of money for a 50 acre winery in Niagara? Not sure if restaurant equipment was ever installed.