Leased while awaiting sale

A $10 million pinot noir winery near Cromwell is being leased to a wine-making company while it is in receivership.

Central Otago Vintners Winery, on Ripponvale Rd, was placed in receivership last year, owing about $8 million to creditors after difficulties in financing caused its collapse.

Joint receiver Alistair King, of WHK Cook Adam Ward Wilson, said the facility was being leased to a company using it to make wine on contract.

Mr King was confident about selling the winery.

"It's still in receivership but we're pretty close to having a successful outcome on a sale," he said.

Several tenders for the property were received in February.

The winery's collapse left about $6 million owed to secured creditors and about $1.2 million to unsecured creditors.