Agents say the 12.6-hectare Pialligo Estate offers diverse revenue streams, a hospitality business with a long-term lease and a great location. Photo: Savills.
Sydney rich-lister Tony Denny has put hospitality and produce property Pialligo Estate on the market.
Mr Denny took over the mortgage on the 12.6-hectare property at Lot 4, 18 Kallaroo Road, Pialligo, after the hospitality, farm produce and tourism business owned by Canberra businessman John Russell collapsed, owing $10 million.
It is now being sold as a mortgagee in possession by CRC1, one of Mr Denny’s companies.
Last July, he partnered with restaurateur Anthony Whitehouse to reopen the venue.
The paddock-to-plate hospitality property includes the glasshouse, pavilion dining, market grill and alfresco bar, as well as a vineyard, olive grove, orchards and market garden.
Mr Whitehouse’s hospitality venture has a long-term lease, and its venues cater to fine dining, private events, and corporate functions for up to 2000 guests.
Pavilion Dining was this year awarded a Chef’s Hat and a score of 14 by the Australian Good Food and Travel Guide (AGFTG), which rates the food on offer as ‘quite out of the ordinary and worth a stop on the way’.
Businessman Tony Denny, left, partnered with restaurateur Michael Whitehouse to bring Pialligo Estate back to life. Photo: Supplied.
Savills is marketing the sale with LJ Hooker Commercial Canberra and says the property offers diverse revenue streams, making it a rare and coveted investment.
“Pialligo Estate is a true jewel in Canberra’s crown and a landmark property offering an extraordinary blend of luxury, natural beauty, and proven revenue-generating capabilities,” says National Director at Savills Australia and New Zealand Nick Lower.
“This is a rare opportunity to acquire an asset that is not only iconic but underpinned by strong income streams and future growth potential,” he said.
Savills says the vineyard, olive grove, and orchard support in-house culinary offerings and provides additional income through external sales, showcasing the estate’s strong potential for long-term sustainability.
State Director Tim Grosmann says this is what sets Pialligo Estate apart from other properties.
“It’s an asset that combines operational excellence with the potential for future innovation, making it a standout opportunity for discerning buyers,” he says.
LJ Hooker Commercial Canberra principal Greg Lyons says Pialligo Estate’s location, strategically positioned close to Canberra’s CBD and major commercial hubs such as Brindabella Business Park and the Parliamentary Triangle, is also a big selling point.
“The location of Pialligo Estate is second to none, offering proximity to Canberra’s CBD and airport, yet still able to provide a tranquil and rural outlook,” he says.
“It’s an exceptional investment for anyone looking to own a property with both immediate returns and long-term potential.”
Pavilion Dining was awarded a Chef’s Hat this year. Photo: Pialligo Estate.
Pialligo Estate was put on the market after the 2023 collapse but failed to sell, and was then listed for lease by the mortgagee looking for a ‘visionary’ operator.
Mr Whitehouse heads Create Catering, a company specialising in a diverse range of venue and event catering contracts with several connections in Canberra.
It won a Restaurant & Catering Association award for Best Informal Restaurant in the ACT for Westering at the Lake George Winery, ran Poppy’s Cafe at the Australian War Memorial, Ollyville at Shaw Winery Estate and the Gundaroo Inn.
Mr Denny first made his fortune in Europe selling luxury cars before turning his attention to property.
He is valued at $790 million and was No 181 on the Australian Financial Review‘s 2024 Rich List.
Original Article published by Ian Bushnell on Riotact.
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