Chinese corporation Daohe Wine & Spirits has completed a deal to buy Bordeaux Supérieur estate Domaine de Courteillac as the estate agent involved tells Decanter.com that interest from China-based buyers remains high.
Domaine de Courteillac sale
News that Daohe has completed its Domaine de Courteillac purchase is the latest in a string deals over recent years and interest among Chinese investors has picked up since Alibaba billionaire and founder Jack Ma became a Bordeaux château owner earlier this year.
Estate agency Maxwell Storrie Baynes handled the Courteillac sale. A sum was not disclosed for the estate, which lies in the commune of Ruch in Bordeaux’s Entre Deux Mers area – not far from St-Emilion.
Michael Baynes told Decanter.com that Chinese investment in Bordeaux was building but ‘not necessarily the way you might think.’
He added, ‘The momentum we are observing is with Chinese investors who are already owners or well acquainted with Bordeaux wines.
‘We continue to see strong demand from them and we invest considerably in ensuring that we understand what they want.’
Most Chinese investors in Bordeaux have so far continued to avoid larger estates in the most prestigious appellations.
Jack Ma influence
‘Jack Ma’s interest and passion for Bordeaux is a great endorsement and continues to provide confidence for Chinese investors interested in the region,’ said Baynes.
In July, a group of Chinese investors bought a total of 15 Bordeaux châteaux, due to what one observer described as the ‘Jack Ma influence’.
At Courteillac, Stéphane Dubes will continue in his role as technical director, while Stéphane Derenoncourt and Frédéric Massié remain as consultants to the 50 ha estate.
Domaine de Courteillac makes a Bordeaux Supérieur red wine under its own estate name, and a second wine called C de Courteillac.