TAKE A LOOK | Iconic Pearl Mountain Estate in Paarl is going on auction next month
- A wine farm with a restaurant and wedding venue that sits on 35 hectares of land on the northern slopes of Paarl Mountain will be auctioned next month.
- Pearl Mountain is a fifth-generation working farm owned by the Retief family.
- The property is already gaining interest from mostly Gauteng and Western Cape buyers.
- It has vineyards and olive groves spread across 19 hectares of land.
- For more stories go to www.BusinessInsider.co.za.
An iconic 35-hectare wine farm and wedding venue, Pearl Mountain Estate, which lies on the northern slopes of Paarl Mountain in the Western Cape, will be sold to the highest bidder at auction next month.
The original land on which the farm sits was originally the home and forge of a blacksmith J.J. Gunterlock from 1747 - it was later bought by the first generation of Retiefs, Gideon Jacobus Retief, in 1874.
The main 497m2 Cape Dutch-style building was initially erected in the 1820s and has five bedrooms, as well as several lounges, kitchens, and dining rooms. It also has a lapa, pool, as well as garages and storage space.
The farm, a fifth-generation working establishment that recently entered business rescue after struggling from the impact of the Covid-19 pandemic, will be auctioned on 1 December 2021.
Pearl Mountain boasts a 16.5-hectare vineyard and olive groves spread over 2.4 hectares of land. It has an additional 2 hectares of arable land and a homestead and wasteland on 14.6 hectares.
In 1999, the first wine grapes were planted on the farm, leading to its first vintage wine in 2004. The farm produces two ranges of wine under the Pearl Mountain brand; the Retief and Stubborn Man. The wines are inspired by the five generations of the Retief family.
The family expanded its offering and established a restaurant and wine tasting room in its Blacksmith's Kitchen, built in 1747. It functioned as a workshop and tractor shed until 2014. Many of its original features were retained when it was converted into a restaurant, including some agricultural features. It can seat 65 patrons inside and 65 outside and has a five-year lease that will expire in 2025.
Joff van Reenen, director and lead auctioneer at High Street, said, while there has been an interest for Pearl Mountain on the local front, it was too early to gauge what the interest of international buyers was currently.
"It's still early in the campaign, [but] at the moment, [it's] purely local. I would say 50% are from Gauteng and 50% local farmers in the Western Cape," he said.
Van Reenen said Pearl Mountain is one of the 'nicest farms' the company has had to auction off in the Paarl and Stellenbosch valleys in years.
"With Pearl Mountain, you've got about 35 hectares of the most pristine vineyards and olive groves you've ever seen. It's been extremely well looked after; its current state is amazing, the views over the Paarl valley are incredible. It's just a very well-looked-after farm that's going on the block after five generations of being in the same family. These kinds of farms stay in the family forever; they don't come on the market," Van Reenen told Business Insider South Africa.
Coming to an estimated valuation is also tricky given its rich history, he said.
"It's those kinds of iconic farms that never come to sale; those are the ones you must put on auction and let the market decide," said Van Reenen.
Pearl Mountain also has a 825m² wedding venue that can accommodate up to 150 guests. It has a kitchen, walk-in fridge, restaurant, bar, dance floor, and an outside area. It also has a workshop, office area, and staff rooms that are attached to the venue. Its lease expires in 2025.
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