This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
News
HK businessman Peter Kwok buys another estate in Bordeaux
Hong Kong businessman Peter Kwok has purchased another grand cru classé property, Château Bellefront-Belcier in Saint Emilion, bringing the total of estates owned by his Vignobles K group in Bordeaux to eight.
Château Bellefront-Belcier in Saint Emilion
The sum of the purchase has not yet been disclosed.
The Hong Kong tycoon has already purchased Château Tour St.-Christophe, Château La Patache, Enclos Tourmaline, Enclos de Viaud, Château Le Rey, Château Tourans, and Château Haut-Brisson, the latter one being acquired in 1997.
The purchase of the 33.4-acre Saint Emilion estate located between Châteaus Larcis Ducasse and Tertre Roteboeuf is seen by Kwok as an “honour”, reported Wine Spectator.
“Among the great châteaus, Château Bellefont-Belcier represents everything that I love about this region,” said Kwok in a statement. “Its gently sloping hills, grand château and majestic trees make it a unique place in St.-Émilion. I cannot imagine a better way to do my part contributing to St.-Émilion than by taking care of this amazing property. It’s my honour to do it.”
The estate has plots on Saint-Emilion’s limestone plateau and south-facing clay-limestone slopes, with a total annual production of 5,000 cases, wrote the American publication.
This is not the first time that the château has changed hands with Chinese. Previously in 2012, the Bellefront-Belcier was bought by a Chinese steel and iron businessman surnamed Wang in Hebei province from Dominique Hébrard, Alain Laguillaumie and Jacques Berrebi. But shortly afterwards in 2015, Wang sold it to John Renos.
The Vietnam-born businessman was among the first Asian investors to purchase Bordeaux estates. With robust demand from Chinese buyers for Bordeaux, more Chinese investors are buying up Bordeaux vineyards including China’s billionaire Jack Ma and Chinese actress Zhao Wei.
According to Michael Baynes, founder of the agent Maxwell-Storrie-Baynes, cited by The Telegraph, Chinese buyers now make up 40% of all the buyers currently snapping up vineyards in the region.