Chateau Bellefont-Belcier in Bordeau Sold to China
The property is the Top of its rank; Grand Cru Classe to be acquired in what has been a wave of Chinese investment in the Bordeaux region.
The new owner is a 45 anni industrialist with assets in the iron sector who has diversified into the wine importing business, met the chateau’s employees Friday and returned to China.
Chateau Bellefont-Belcier, on market for many years, has 13 hectares of vines and total land of 20 hectares.
A source close to the transaction said the final price was between 1.5 and 2.0-M Euros per hectare of vines.
Herve Olivier, regional director of SAFER, the government agency that oversees rural land development, said another 10 Chateaux could be sold to Chinese buyers by the end of the year.
Chinese investors have acquired around 30 lower-ranked properties in Bordeaux, the larger region that includes Saint Emilion, in the last 2 yrs.
This year has seen China become the region’s biggest export volume market.
Heffernan Capital Management
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Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.
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