Bordeaux Winemakers Are Snapping Up Napa Estates

Mar 23, 2016

(Bloomberg) - As the Chinese pile into Bordeaux, French château owners rediscover California.

Alfred Tesseron, who owns Bordeaux château Pontet-Canet, hunted for a Napa Valley property for years. When he and his niece Melanie saw the late Robin Williams’s 640-acre Villa Sorriso high up on Mount Veeder in September, it had the right wine “magic.” The closest neighbor is musician (and vintner) Boz Scaggs.

The château’s visionary technical director, Jean-Michel Comme, walked every row of the 18.4-acre vineyard, probing the soil and vines. The real estate broker organized tastings of older vintages of classic wines made from Mount Veeder grapes, such as Mayacamas, to let Comme see the potential to make great cabernet. He gave it the nod.

The estate came to the market in 2012 priced at $35 million, but Tesseron was able to snap it up six weeks ago for $18.1 million. In some ways, this was a tough sell. The location is remote, and realtors say people looking primarily for a residence like Williams’s 20,000-square-foot house prefer being closer to the restaurants and activities in St. Helena. Likewise for those looking to invest in a show-off wine estate, who frequently want fewer acres.

The Tesserons are the latest players in the new, high-profile wave of Bordeaux vintners sweeping into Napa. French fashion house Chanel, whose billionaire owners Alain and Gerard Wertheimer have Bordeaux châteaux Rauzan-Seglaand Canon, plunked down an undisclosed sum for the St. Supéry estate in October. (Wine country insiders speculate the the figure might have been in the neighborhood of $125 million.)

That followed the 2013 purchase of cult winery Araujo Estate by Francois Pinault, owner of first growth Chateau Latour.

Now many more Bordelais are e-mailing and wanting to take a look, says real estate broker Robert Landsness of Pacific Union, who worked with the Tesserons.

Cyd Greer, the listing agent for the Williams estate, who is affiliated with Coldwell Banker, has seen an uptick in interest from Bordeaux in just six months, she said during a phone interview.


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