Agents offering Gapsted Estate for sale as a going concern say parties within Victoria and further afield have shown interest.

Duncan McCulloch of Colliers, selling the property on behalf of receivers and managers Luke Andrews and Mathew Blum of BDO Business Restructuring Partners, said there had been "a good level of interest" from existing viticulture industry participants through to investors looking for a going concern opportunity over the past month.

"Gapsted Estate is a well renowned winery and tourist destination and the level and quality of infrastructure is outstanding and no doubt of interest to buyers," he said.

"Initial expressions of interest close 4pm Wednesday, 18 March and then we'll look to shortlist parties into a second phase to complete due diligence with a date yet to be determined for best and final offers."

Victorian Alps Wine Company Pty Ltd (trading as Gapsted Estate) and Victorian Alps Winery Pty Ltd was placed in voluntary administration by its directors on 27 November, with BDO appointed on 10 December to commence the search for a buyer for the largest, multi-faceted wine business in the Alpine Valleys.

Gapsted Estate's cellar door, on-site restaurant and its winery and production facilities have continued to operate while a buyer is sought.

Assets being offered for sale include:

- freehold land of approximately 24.05 hectares at Gapsted, with 7.22 hectares under vine to grape varieties including Chardonnay, Saperavi, Tempranillo and Petit Manseng;

- modern cellar door and on-site restaurant facilities with capacity for approximately 60 patrons for lunch service and up to 80 patrons for events;

- Fully operational winery benefitted by quality plant and equipment and production facilities capable of processing up to 11,500 tonnes of grapes per annum, 2500 tonnes of red ferment capacity, and wine storage capacity of 8.2 million litres; and

- well maintained structural improvements including a large warehouse and distribution facility, administration building, production and laboratory building, tastings room, barrel shed and staff amenity.

Victorian Alps Wine Company Pty Ltd was established in 1997 by a group of independent grape growers from the Alpine and King valleys as a contract wine grape processing facility, and developed strongly branded Alpine Valleys wines and a vibrant cellar door and restaurant business in recent years.