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Chateau de Cadillac-en-Fronsadais sold to Chinese investor
Château de Cadillac-en-Fronsadais, the historic château linked to the first Baron of Cadillac, has been sold to a Chinese investor, Vineyards-Bordeaux has announced.
Château de Cadillac-en-Fronsadais, in Cadillac-en-Fronsadais AOC Bordeaux, has been sold to a Chinese businessman in the technology, media and telecommunication industry.
The buyer, identified only by his surname, Chen, was referred by Christie’s auction house in China, and purchased the estate along with stock from the Serisier family who acquired the property in 2004.
Château de Cadillac-en-Fronsadais has a storied history dating back to Pey de Montrevel, the first Baron of Cadillac, created by Edward II, King of England, in 1307, according to Vineyards-Bordeaux, an exclusive affiliate to Christie’s International Real Estate.
Chen will take over the stewardship of the estate and plans to continue the investment completed by the Serisiers since 2004.
Commenting on the purchase, the Chinese businessman, who works within the technology, media and telecommunication industry, said: “It is a dream come true for me to become a part of such a privileged history and participate in my passion for wine through such high quality terroirs.”
The sale joins a growing list of Chinese investors who have bought up vineyards and chateaux in Bordeaux.
By the end of 2018 about 150 Bordeaux estates, mostly in lesser-known appellations, had been bought by Chinese investors, including Jack Ma, founder of the Alibaba Group, Chinese actress Zhao Wei, and Hong Kong businessman Peter Kwok.
The growing number of Chinese investors in the region, however, has raised eyebrows from Bordeaux purists who argue that Chinese investors are changing century-old Bordeaux estate names into auspicious-sounding Chinese names bearing dragons, antelopes and rabbits, as dbHK previously reported.
The investment in the past has also raised fears of criminal activity. Earlier in June last year, police in France seized 10 wineries in the Bordeaux area that were owned by Chinese conglomerate Haichang over suspicions of tax fraud, forgery and laundering. The Dalian-based company spent an estimated US$64 million to acquire 24 estates in Bordeaux.
Despite increasing investment, the Chinese only own about 1.5% of Bordeaux’s 7,000-strong vineyards.