Cowley family shifts Hunter Valley focus
The Cowley family has sold the luxury lodge and prominent winery Tower Estate, in NSW's Hunter Valley, to Karen and Michael Hope of Hope Estate, with the family turning its focus to two of the area's leading historic properties, Roberts Restaurant Circa 1876 and boutique hotel Peppers Convent.
The family of former News Limited chief executive Ken Cowley and a group of high-profile investors put the Tower Estate portfolio of rural retreats up for sale in July. News Limited, now known as News Corp Australia, is publisher of The Australian.
Tower Estate had developed the retreats for about $11 million in 2000 and further additions were made, but the terms of the latest deal have not been disclosed.
Those involved in developing the properties included former Rothbury Estate chairman Len Evans, who has been cited as the inspiration for the Cowley family first investing in Hunter Valley vineyards; British television chef Rick Stein; Rockpool Bar & Grill co-owner David Doyle; and Hunter winemaker Brian McGuigan.
Boutique hotel Peppers Convent, owned by former News Ltd CEO Ken Cowley, is set among vineyards of the Hunter Valley.
CBRE Hotels and Jurds Real Estate marketed the portfolio, attracting bidders from around the world, but the vendors favoured a local buyer with a strong connection to the area.
"We are thrilled that Tower has been sold to another great Australian family who understands the region and Tower's traditions of hospitality and excellence in winemaking instilled by Len Evans many years ago," Matt Cowley said.
Mr Cowley said it was with "mixed feelings" that he and wife Karlie had made the changes, as they were sad to be selling Tower but "extremely pleased" to retain Roberts Restaurant Circa 1876 and Peppers Convent.
Both of those properties are undergoing refurbishment, which will be completed in coming weeks.
"These Hunter Valley icons will be our new focus, having felt we fulfilled all the challenges Tower Estate gave us," Mr Cowley said.
The Cowley family, assisted by executive chef George Francisco, intends to bring an even greater focus on sustainable produce and permaculture to Roberts Restaurant Circa 1876.
Mr Francisco's spectacular organic kitchen garden is in the process of being expanded to cover a more than 1ha lot.
The Convent is also being done up..
"Karlie and I plan to invest the same passion into the Convent and Roberts as we did for Tower over so many years," Mr Cowley said.
Source: The Australian, 2 October 2013
