Hope family to sell Tower Estate luxury resort in NSW Hunter Valley

One of the country’s best country resorts, Tower Estate in the NSW Hunter Valley, is expected to be chased by local and offshore buyers keen to expand the operation.

A courtyard at Tower Estate, in the NSW Hunter Valley.

Luxury country resort Tower ­Estate in the NSW Hunter Valley has hit the market on behalf of local winemakers the Hope family with a guide price of about $30m.

Opened in 1998, the recently renovated Tower Estate offers two operations – the luxurious Tower Lodge and the Tower Whiskey Distillery, which opened two years ago.

The property, owned by Michael and Karen Hope, fronts Halls and Broke roads, Pokolbin occupying 16.1 hectares, and has 14 recently renovated suites.

Local property owner and tourism entrepreneur Jerry Schwartz, who owns the Rydges Resort Hunter Valley, with 150 rooms and 250 villas, said tourism had flourished in the wine region north of Sydney, especially since the Covid pandemic.

“But it has been somewhat dampened by the cost of living and people are considering going on overseas trips,” Dr Schwartz said.

“Notwithstanding the Hunter Region is an amazing region for smaller school holiday trips and residential corporate retreats, and it’s partly my disappointment that local tourism authorities don’t promote the region as they really should be.”

Tower Estate has 14 renovated suites and a wellness amenity with pool and sauna.

CBRE Hotels’ Tom Gibson and Nick Hill are managing the marketing campaign for Tower Estate via an international expressions of interest campaign closing on April 30.

“Tower Estate presents an ­opportunity to secure the most luxurious and centrally located hotel in Australia’s most visited wine region, offering diversified income streams across accommodation, events and food and beverage operations. There is also an opportunity to scale the business via a room expansion and business repositioning,” Mr Gibson said in a statement.

“Following its 1998 opening, Tower Estate quickly earned a reputation as one of Australia’s premier hospitality destinations and closest luxury escapes to­ ­Sydney. This has been further enhanced by a $6m renovation of Tower Lodge in 2022.”

A dining room at Tower Estate.

An additional 10 stand-alone vineyard suites or 20 hotel rooms could be added to the estate, ­subject to planning approvals.

CBRE expects interest from domestic and international investors given the property’s strategic location in the heart of the Hunter Valley, amid forecasts that the region’s economy will grow 75 per cent by 2036, underpinned by ­record private and public investment.

Mr Hill said the property was being offered with vacant possession, allowing the purchaser to implement operational strategies for the lodge and further activate the whiskey distillery.

Tower Estate features guest ­facilities including the Tower Lodge Restaurant, a private event space and a wellness amenity with a secluded swimming pool and sauna.

Vendor Michael Hope, who is also involved in the beef industry, said he was selling the property with mixed emotions.