To return to the early days of Vasse Felix: Terry Merchant managed the place for a couple of years until early 1972 and lived in the house. Murray Neave then took over until March 1973 when David Gregg arrived, recommended by Bill Pannell in an effort to be helpful, and stayed as an employee until 1983, purchased the place for $360,000 in 1985 after leasing it from me for two years at, from memory, around $35,000 per year, then sold it to Heytesbury in 1987 for, I was told, around $1,250,000. During his time as my employee he could not have worked more effectively and I am happy to say could not have been more adequately rewarded.
All I can profitably say is that my time had come. I was not in Cowamarup for the money, had no intention of living there, and eventually was getting little pleasure from its success. My family were not interested although I believe they liked the idea of it. I was 60 when I sold it and could not do the work I had done. The number of vineyards south of Bunbury were starting to multiply, the whole project was big and more complex and it was cumbersome to control. In fact the master-man relationship was impossible as I was not interested if I could not control vine and wine detail. I had nothing to do with marketing, did not have a cheque-book and had nothing to do with financial control, except my accountant’s annual assessment.
I would say that unless there is some sort of corporate arrangement the only way to run such a place is by owner-occupation. In fact, to follow my belief that great wine requires personal, individual control, the latter method is the only way to go.
People like the Cullens, the Pannells and the Devitts have followed this route. They live on the land and in the district. They educate their children to take over. I see a miniscule number who can successfully go beyond two generations but I hope that even if this be so they find adequate reward for their pioneering work and aching scars in the noble wine they make, and their pride in it, for at least two or three generations. You can’t win them all. The devising of ownership succession in places like Burgundy might be relevant in this regard.
Part Ten:
The End of my Involvement at Vasse Felix
