Madison Wine opens second storage facility

Hong Kong fine wine merchant Madison Wines has added a new storage centre in Yau Tong, as demand from wine collectors for premium storage increases.

Located in Yau Tong in southeast Kowloon, the new wine storage facility gives each customer 24-hour access, including pick-up and delivery, logistics and repacking services for those based in China.

There are differing levels of private cellar room available, from 60 square foot for the Ruby package to 185 square foot for Diamond/Platinum package and fees range from HK$3,800 per month to HK$8,900 for a 12-month contract.

For individual cases, prices range from HK$18 to HK$30 per case on a month-by-month basis.

Hong Kong has an extremely humid climate, and wine collectors pay a premium for temperature-controlled storage. Due to Hong Kong’s severe lack of space also, most residences do not have the space to accommodate large wine fridges and so demand has increased for professional storage facilities in the recent years, as more people start to collect.

With Raymond Ting as its Chairman, Madison Wine was established in 2010 with its first retail venture opening in Wan Chai and subsequently, a storage facility in North Point in February 2014.

It held its first IPO on 8 October 2015 where it raised net proceeds of HK$ 56.3 million and closed at the first day of trading at HK$6.20, an increase of 720% from its listing price of HK$0.75.