Chinese entrepreneur buys Bordeaux wine estate

London

CHINESE entrepreneur James Zhou has acquired French wine estate Chateau Renon in Tabanac on the right bank of the Garonne river in the Cadillac Cotes de Bordeaux region, according to real estate broker Michael Baynes. The deal comprised two transactions bringing the chateau's historic vineyards back under its control, according to Mr Baynes, a partner in Maxwell-Storrie-Baynes, an exclusive affiliate of Christie's International Real Estate. The vineyards, covering 8 hectares, were managed under separate ownership in recent years, while the chateau itself dates from 1802 and is surrounded by more than 5 ha of parkland and gardens.

Investors from China have bought more than 100 Bordeaux wine estates since starting to focus on the area in 2010, according to Mr Baynes. Mr Zhou intends to use French winemakers and local expertise in the vineyard at Chateau Renon, and the deal opens the way for its wine to be shipped to the Chinese market. "It was one property for a very long time," Mr Baynes said, noting "the condition of the main chateau is outstanding". The transaction price was not disclosed. The deal follows last month's purchase by Hangzhou-based New Century Tourism Group of Chateau de Birot, a 34 ha property with an 18th century mansion and about 25 ha of vines.