Even though a Madison County winery is in foreclosure again, it doesn’t appear Donald Trump will have to step in.
Sweely Estate Winery is in foreclosure for the second time in less than a year, Tranzon Fox Vice President Jeff Stein confirmed Tuesday. However, Sweely’s co-owner-operator expects to get things straightened out again.
“It will be taken care of,” Jess Sweely said. “You can ignore [published legal notices announcing the foreclosure].”
The 295-acre Sweely Estate Winery and vineyard site off Wolftown-Hood Road (Route 230) between Wolftown and Oak Hill is set to be sold by the Virginia Beach-based auction company Tranzon Fox again.
“I do not know what the current debt is on the property. An accurate statement would be that the owners must repay the balance of their debt, which was originally $15 million,” Stein said.
Central Virginia wineries have been plagued with difficulties during the prolonged economic downturn. The Kluge Estate Winery and Vineyard in Albemarle County was recently bought by billionaire TV personality Trump. The Kluge Estate Winery and Vineyard property sold for about $7.5 million.
The auction of the Sweely Estate Winery foreclosure is scheduled for 11 a.m. May 11 at the front entrance of the Madison County Circuit Court office.
The sale includes a full-service vineyard and wine tasting-banquet facility. The property is planted with 39 acres of vinifera wine grapes, which range in age from new plantings to 5-year-old vines.
Its centerpiece 17,904-square-foot hospitality center is a stone and brick French-chateau-style building with an open interior with slate and ceramic floors, exposed wooden beams and brick and stone pillars. The center has a tasting room, a gift wine shop, offices, a commercial kitchen and banquet rooms and terraces that can accommodate more than 300 seated guests. The three-level building is serviced by an elevator and stairs.
Email
Facebook
Google
Twitter
Favorites
More
Advertisement