High-profile foreign investments and a diversifying industry, along with the impacts of climate change, have seen the U.K.’s area of active vineyards grow...
Explosive interest in winemaking in the U.K. has stoked interest in a relatively new kind of property type for the country: the British wine estate.
So far, the properties trading don’t necessarily compare to classic French vineyard sale that includes a chateau surrounded by its own grape vines, said viticulture expert Will Banham, Strutt and Parker’s director of estates and farm agency. The market for land suited to cultivating grapevines has developed “very rapidly indeed,” Banham said, with inquiries about buying or establishing a vineyard tripling in the past year.
The price of establishing a vineyard has also increased in recent years, due to the rising cost of labor and materials. He estimated the cost of planting and establishing land at £15,000 an acre, with a wait of between five and eight years to begin seeing a return on investment. But the majority of demand, especially for smaller- and medium-scale investment, still comes from fellow Britons.As farmers and landowners become more aware of the value of land suited to wine production, deals are increasingly conducted off-market. What this means for buyers seeking a vineyard is that patience and a good agent are both key.
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