A Scottish businessman is selling a £1.8 million South African vineyard after falling out with his co-owners.

Michael Johnston, who resigned as chairman of the Carnoustie Golf Course Hotel in 2005, had wanted to liquidate Louisvale Wines near Stellenbosch after having a disagreement about the value of the vineyard with his fellow shareholders, including Jonathan Pedley, a wine expert who worked with the late Keith Floyd.

The owners – who also include Cape Town lawyer Hendrik Kotze, a UK property specialist called Martin Delaney and Airdrie-based company County Properties & Developments Ltd – bought the wine estate in 2002. Its award-winning Chardonnay is viewed as one of the best in South Africa.

Court papers show that when a sale was first mooted, Mr Johnston, from Dundee, disagreed with the accounts, claiming the balance sheet was misleading and that he was owed far more once loans were properly recorded.