THE Evening Star is set to rise again for Geelong winery Pettavel, with the property selling to local investors for $4 million.
An unnamed local winery is set to take over the lease of the Pettavel vineyard and winery, while the future of the restaurant is still to be determined.
Pettavel was forced to close its winery and restaurant doors last year after being placed in the hands of receivers, with an estimated $16.5 million debt.
The closure, which put 29 staff out of work, was seen as a body blow for the region and the local wine industry.
But Colliers International managing director Andrew Lewis, who sold the property, said having local investors buy the winery demonstrated a renewed confidence.
"These guys live between Colac and Geelong, they're local to the area, they like the area and they saw it a good quality real estate investment," Mr Lewis said.
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