If you are ready to invest several million dollars in a new business and have a desire to own a fully-functioning winery, then be ready to bid on Dahlonega’s own mountain vineyard, Montaluce Winery and Estates. The estate is being sold at auction on June 26 by CBRE Auction Services, and the bidding will start at $1.5 million.
Originally designed to be a $300 million master-planned development, the project was started just before the economic recession. As the recession wiped out the market for second homes, the project stalled before being taken over by an investment group.
The 400-acre estate features 35 acres of vineyards that produce annual varietal harvests, and it is home to a functioning winery and a fine-dining restaurant, La Vigne, which was voted as Open Table’s Most Scenic Restaurant in Georgia in 2013 thanks to its incredible vista views that overlook the Chattahoochee National Forest and Etowah River.
The estate is also a popular event and wedding venue, with bookings currently scheduled through November. The site is being sold under the condition that all scheduled events, such as the weddings, are still honored.
Montaluce’s original design was envisioned to have around 300 homes, cottages and vacation rentals that would attract wealthy Atlanta residents and those seeking a mountain vacation home. Currently, there are about 20 completed homes and 60 sold home sites on the property, while 223 home sites have been partially or fully improved.
Located at 501 Hightower Church Road in Dahlonega, the estate is being marketed globally by CBRE to developers, real estate investors, vineyard operators, entrepreneurs and hoteliers. To see more photos of the estate, click here. To learn more about the upcoming auction, visit www.CBRE.com/Montaluce.