With confidence in the future Algodon Wine Estates doubles its land holdings in Mendoza
Algodon has just announced that the Algodon Group has acquired an additional 2,088 acres (845 hectares) of land directly adjacent to the existing property at Algodon Wine Estates in San Rafael in Mendoza. This land acquisition has more than doubled the size of their existing estate, from 2,050 acres (830 hectares) to 4,138 acres (1,675 hectares).
This is an exciting step for them, marking a significant expansion of their real estate holdings. The new land gives them the flexibility and space needed to expand the scope of their operations, enabling them to capitalize on the improving Argentinian real estate market.
They are considering various uses for the new land, including the development of Private Estancias, Vineyard Villas and additional estate lots. An expansion of vineyard operations and the development of supplementary agricultural revenue streams are also being considered.
Most importantly however, they view this acquisition as a long term land bank, at an opportune time when there has been a continued rise in real estate values in all of Argentina. This property is expansive, and the opportunities in potential revenues is also expansive. On the existing property, they have already built an internationally recognized collection of assets that include a winery, an award-winning hotel and restaurant, a beautiful golf course and tennis center, and hundreds of acres of prime vineyards, to name just a few.
They believe that the value of the new acquisition therefore has immediately increased by merely being associated with Algodon Wine Estates, for which they have already built so much infrastructure and added value.
They are also happy that the region of San Rafael has recently lifted the prohibition on the digging of water wells, which they also believe may have a significant positive impact on the estate’s value.