SOURCE: J. P. King Auction Company

J. P. King Auction Company

March 31, 2011 17:09 ET

Absolute Auction of Kluge Estate Winery Brings Interest, Visitors to Charlottesville

CHARLOTTESVILLE, VA--(Marketwire - March 31, 2011) - It's no secret around Charlottesville, Va., that the Kluge Estate Winery will sell at auction on April 7, but the property and its upcoming auction have also become a well-known event around the country. Since property tours began on March 24, over 20 tours have been scheduled with inquiries from interested bidders coming from 23 states and two countries.

The 901-acre vineyard and winery will sell at an absolute auction with no minimums and no reserves on April 7. J. P. King Auction Company, the nation's leading real estate auction marketing firm, will conduct the sale onsite.

"This is a beautiful, one-of-a-kind property," said Craig King, president and CEO of J. P. King Auction Company. "Being a lender-acquired property, someone will get to go home with a great deal on a property that they can really be proud of."

The property has been divided into five parcels, ranging from six to 647 acres, divided specifically for each tract's best individual use, but the property is also available to purchase as an entirety.

"The winery could sell separately from the vineyards and be used by other wineries that have that type of production," King said. "Of course the ideal situation would be to sell it as an entirety and keep the property together like it was intended, but each tract is divided so that it can function independently."

Tract 3 contains the original vineyard and the winery production building, a barrel cave and two cottages. Tract 6, the 647-acre parcel, has planted vines, an event pavilion, an office barn, a carriage museum and three cottages. It also features 60 acres of clear land with ideal slope and elevation for future planting.

The first two tracts are ideal for residential or recreational use, and the 94-acre Tract 1 can be used for timber as well. Tract 5 has a farm shop and tasting room with a full-sized kitchen.

Farm Credit bought the property at a foreclosure auction in December and has selected to sell the property on the auction day rather than allowing for a pre-sale, like many auction events encourage. The auction will take place on April 7 at 1 p.m. at the event pavilion, located at 100 Grand Cru Drive.

Property tours are available by appointment only through auction day. For additional information, individuals may contact J. P. King at 800.558.5464 or visit the company's website at www.jpking.com.

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    Caley King Newberry
    Cell: 256.295.3629