PHOTO:CRAIG SIMCOX/STUFF Billionaire wine magnate Bill Foley is investing heavily in his South Wairarapa assets.
A US billionaire is pouring “many millions” into developing a winery and gin distillery in Wairarapa, insisting New Zealand will bounce back strongly in the wake of coronavirus.
Foley Wines has announced the new complex at Te Kairanga vineyard in Martinborough including a new complex housing a restaurant, an underground barrel facility, tasting rooms and a gin distillery.
The family also owns the luxury Wharekauhau Country Estate, which recently slashed prices to attract more domestic tourists.
American billionaire owner Bill Foley said he had always been passionate about the Wairarapa’s wine and the region’s tourism.
“I believe that investment at Te Kairanga will benefit our brands incredibly but also the broader economy in the greater Wellington region.
“My family continues to invest in the lodge we personally own in the region, Wharekauhau Country Estate,” he said.
Foley Wines chief executive Mark Turnbull said they have been working on the Te Kairanga concept for two years and though he couldn’t give exact figures, he said the development was worth “many millions”.
READ MORE VIA STUFF