Fine wine news

There is increasing danger of Bordeaux wine estates no longer staying in the family as young generations are refusing to take on the family business.

As wine growers are retiring, estates have to go on the market and The Drinks Business has reported that now one-third of Bordeaux's wine estates are up for sale.

Alex Hall, director of Bordeaux property agent Vineyard Intelligence, told the news provider that those who are retiring but wish to keep the estate in the family are choosing to take up EU or French subsidies in place of growing grapes.

Figures from the CIVB show that Bordeaux's vineyards have fallen to just 115,110 hectares as of 2009 because of these subsidies.

There are plenty of interested parties in getting their hands on a Bordeaux chateau, however. It was recently reported that an influx of Chinese buyers have be acquiring wineries in the region, with 15 being bought up in a matter of months.

Commenting on the trend, Mr Hall said: "New owners are bringing in new markets. These guys are buying what other people wouldn't be keen on buying. It's difficult to make money at a certain economy of scale because of distribution."

Posted by Paula Henderson