Chateau Yering hit a sweet note with $20m offer

Just as domestic tourism starts rebounding strongly, a historic Yarra Valley luxury chateau and associated landholdings has hit the market with price expectations of around $20m. Architect Max Zhang, who bought the country house-hotel property on 101ha in 2018, now wants to focus on his significant offshore holdings and has listed the country house estate northeast of Melbourne.

The estate includes a 2.7km frontage to the Yarra River and 32 guest rooms, including three guest suites with four poster beds in a former stable block and the Yering suite which has its own private staircase. Regional and rural accommodation performed strongly during Covid as opposed to city dwellings. Chateau Yering Yarra Valley marketing agent Andrew Jolliffe, of Sydney’s HTL Property, said there was development approval for the construction of an additional 23 guest rooms, as well as a freestanding wedding chapel. Planning approval has also been granted for a two-level event space.

Mr Jolliffe said the property was in excellent condition and did not require any refurbishment. The historic property adjoins the vineyard Yering Station. The property has spectacular views across the Yarra Valley to the Great Dividing Range and is located about an hour’s drive northeast of Melbourne, according to Mr Jolliffe.

Built in 1854, Chateau Yering has welcomed guests for more than a century and regularly houses weddings and high-end corporate events in its large indoor and outdoor function areas. The gardens are heritage listed. The marketing of Chateau Yering, which also includes a cafe and restaurant, is being conducted by HTL Property and Burgess Rawson agent Zomart He, of its Asian Investment Sales division, via an international expression of interest campaign closing July 8.