Land which once was home to Canberra hospitality business Pialligo Estate has been listed for sale and has had a "flood of interest" in only 24 hours, a real estate agent says.
Pialligo Estate Pty Ltd was taken over by liquidators in April, and is believed to owe more than 500 creditors - including staff, suppliers and clients - more than $6 million.
Savills real estate agent Nick Butler thought the 13,684 square metre property would go for more than $30 million.
There had been 50 expressions of interest in the first day of the listing from Canberrans and Sydneysiders, he said.
The property for sale includes three pavilions, which is home to venues The Glasshouse, Market Grill, Pialligo Fields and Pialligo Pavillion.
Despite the collapse of Pialligo Estate, which was owned by Braddon-resident John Russell, Mr Butler said the wedding side of the business was thriving.
"The business itself that was attached to Pialligo was very healthy," he said.
"John [Russell] had other other business interests ... I don't believe the business operations of Pialligo Estate were what led to the mortgagee in possession."
He said the business had a $3.5 million profit before interest, taxes, depreciation and amortisation (EBITA).
The location was "a little slice of country on the doorstep of the city and of the airport", Mr Butler said.
"There's been no expense spared in the construction of the pavilion there. It's a beautiful property, and it's very well appointed to handle a lot of weddings. In many cases, multiple weddings at the one time.
"It's my understanding the venue hosted 150 weddings in the last four months.
"We've got the ability to cater for very large weddings, and even down to small private dining rooms, which are used for small corporate, intimate functions. So there's a lot to like about it."
Besides the inherent value of the land and commercial buildings, Pialligo Estate also had a lot of sentimental value for Canberrans, Mr Butler said.
"In terms of the brand equity of Pialligo Estate, I've had a lot of people who I know in Canberra, friends and family and whatnot, everyone's got a very strong attachment to the site," he said.
Lot 4 of 18 Kallaroo Road, Pialligo has B4 mixed zoning, and is accepting expressions of interest until May 26, 2pm.
Liquidators RSM Australia took over Pialligo Estate Pty Ltd on April 8, and have said creditors including 110 wedding clients, 200 staff and 170 suppliers are unlikely to get back their money.
The business owed $4.1 million to the Australian Taxation Office, ASIC documents showed.
It also owed money to federal and ACT government departments, an electricity supplier, a water supplier, a university, lawyers, financial advisors, a conservative think tank, media outlets, local businesses and employees.
Liquidator Frank Lo Pilato said Mr Russell blamed the estates decline on a "domino effect of events".
This included fires in 2016 and 2017, increased insurance costs, unseasonable weather, COVID-19, staffing issues, lost vintages and rising interest rates.
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