Chairman and Shareholder David Irving
NZ's leading hospitality trade magazine, The Grill, edited by Keith Stewart asked David to consider his investment in Cable Bay and answer an unexpected question for the December issue, 'Cable Bay Ten Years On; Would you do it again?'
Here is an abbreviated excerpt from his reply.
"The gestation time is very long. Neill Culley was 34 when he approached me in 1996. Since then we have planted vineyards on Waiheke Island, had five vintages, begun building a $5 million facility on the island and put money into the business every month for that time. Our first years profit is planned for 2008 – twelve years from the original idea!”
The location of Cable Bay could not be better. Waiheke Island with its warm climate produces excellent Bordeaux ripened fruit and classy White Burgundy (Chardonnay). Nevertheless, Marlborough Sauvignon Blanc and Pinot Noir, are now central to Cable Bay. The best of New Zealand wine available in the heart of Auckland. Not bad.
But there is more. The Church Bay Waiheke facility currently being built is more than a winery. This facility recognises wine as a lifestyle product. Hence the facility has a restaurant seating around eighty inside – forty outside, wine bar, wine tasting room, board room for client company planning days, a wine library room overlooking the barrel room through a glass wall and suitable for private dining. The facility, site itself will include art in the gallery hallway, sculpture capturing the character of the surrounds, music and light entertainment might surprise and be of Waiheke culture. Fashion on the edge could be a Cable Bay catwalk. In other words, the facility is much more than wine, but all enabled by wine.
“So would I do it again? It is the site and all it promises that finally gets me across the line. The site will truly brand Cable Bay, it will be a mighty challenge to get up and running, but we are surrounded by good people. We have chosen to go down the difficult path of taking responsibility for the facilities – Neill Culley has a love of food and wine. But this is the more committed route, the one of an owner with his brand and reputation on the line. Watch this space!!
But then there is me, 60 years old, adorable wife and twin daughters of thirty one. This suits me I think. We have bought a seven-acre property further in the Church Bay, near the water with a short walk back up to the winery. I can see myself over the next hopefully many years walking to the winery in late morning, enjoying lunch then popping down into the barrel room to test today’s blend!! Then a roll down the road home!
You will be intrigued. A year or so when a very competent accountant was looking to invest in Cable Bay he asked a line of questions which I identified as an enquiry about an exit strategy. To be truthful, I had not given thought to it. But I did then in an instant. I leaned forward and whispered to him – I know what it is …….death!”