Summary of recent transactions – September 2014

The following is a summary of sales of Bordeaux vineyard properties so far in 2014.

As if proof were needed that French buyers still dominate the market for Bordeaux vineyards, it was reported in January that one Bordeaux broker had sold four properties in Saint-Emilion in the month of December 2013: Chateau Grand d’Essieu (AOC Saint-Emilion Grand Cru, 4 hectares), which was purchased by a Bordeaux pharmacist; Chateau Mondorion (AOC Saint-Emilion Grand Cru, 13 hectares), sold by the Leon family to the Cruse family; Chateau Haut Villet (AOC Saint-Emilion, 8.5 hectares), purchased by the Garcin family, owners of Saint-Emilion Grand Cru Classé estate Chateau Barde Haut, Clos L’Eglise in Pomerol and Chateau Haut Bergey and Chateau Branon in Pessac-Leognan.

In January, Luc Thienpont, co-owner of Vieux Chateau Certan in Pomerol, sold a group of properties in the Médoc that he had built up since 2004: Clos des Quatres Vents and Chateau Tayac Plaisance (AOC Margaux, 7 hectares); Chateau Bonneau (AOC Haut-Médoc, 13 hectares); Marque Z (AOC Bordeaux). The buyer was Liaoning Energy Investment, a Chinese state-owned energy company based in Liaoning province.

In February, Silvio Denz, owner of Chateau de Faugeres in Saint-Emilion, purchased Chateau Lafaurie-Peyraguey from GDF Suez. Read more…

Also in February Philip de Haseth Moller sold Chateau Vrai Canon Bouché in AOC Canon-Fronsac to La Francaise REM. Chateau Vrai Canon Bouché is one of the leading estates in the Canon-Fronsac appellation, with 13 hectares of vines in a single block situated on a clay-limestone plateau. The property employs Stephane Derenoncourt as consultant and scored 94 and 93 points from Robert Parker for the 2008 and 2009 vintages respectively. La Francaise Real Estate Managers, which purchased the property through its subsidiary LFP Grands Vignobles de France, will manage both production and sales at the estate and expects to generate a 5% to 7% return after 7 to 10 years, according a Vitisphere article reporting the sale.

The following month Jean-Luc Thunevin sold his four-hectare Margaux estate, Chateau Bellevue de Tayac, to a wine investment group, GFV Saint Vincent Bellevue de Tayac. The sale was reportedly to allow him to pay off bank debts and to focus on the management of his right bank properties. The day-to-day running of the estate will be undertaken by Vincent Fabre and his family, owners of Chateau La Tonnelle and Chateau Landat.

In April Chateau Chauvin, Saint-Emilion Grand Cru Classé, was sold to Sylvie Cazes, co-owner of Chateau Lynch Bages in Pauillac. Read more…

After a quiet month in June, the month of July saw the announcement of the year’s most high profile transaction to date, the sale of BPCE’s Bordeaux estates to the Moulin-Houzé and Cathiard families. Read more…

Other transactions during the last eight months include the sale of Chateau Quercy in Saint-Emilion, the acquisition of a majority stake in Chateau Trianon in Saint-Emilion, both of which involved Chinese purchasers, and the sale of Andre Lurton’s remaining stake in Chateau Dauzac.

Alexander Hall