Land with vineyard potential generating significant interest

Simon Gooderham, joint managing partner at Che ns, discusses the impact that the booming viticulture industry is having on land values and market direction.

It’s been estimated that the footprint of vineyards in the UK will double in the next decade following the popularity of British wine. And with currently 943 winemaking sites now in existence, according to WineGB, the demand for vineyards is increasing at pace.

The number of acres under vine is expected to exceed 7,600 acres in the next decade, as a result of the burgeoning viticulture sector and the growing popularity of British wine. Values are now exceeding around £15,000–25,000 per acre for prime vineyard land; well over and above the average arable price of circa £10,000 per acre. The perfect storm of a new commercial interest in British wine, coupled with climate change, has now made the UK a serious contender for winemaking on the world stage. Our chalky soils in East Anglia and throughout the South East mimic those of Champagne and the typical growing areas of France, allowing for good quality sparkling wines, and some brands, such as Nyetimber, are really now making waves in the market.

Last year, we o ered one of the most established vineyards in East Anglia to the open market. With 22 acres of vines, wine making equipment and a winery, the vineyard had been established over 50 years ago, and already had a good reputation among the viticulture community. The vineyard generated signi cant interest from buyers from the UK, Germany, Spain, Australia and New Zealand.

This is partly due to the wide-ranging types of buyers who are currently actively seeking out vineyard land. These vary from farmers looking to diversify and ride the wave of UK winemaking, speci c wine makers, everyday buyers looking for a career change and even some of the largest Champagne houses, such as Taittinger and Pommery, which have both been buying up UK land for production. Demand is mainly focussed on established vineyards, which are rare to come to the market and achieve much attention when they do so, but land which is ripe for planting is also popular. However, it can take up to ve years for vines to reach full productivity, making this a lengthy process for a buyer looking to start a vineyard afresh.

As farm subsidy payments are beginning to fall, we are seeing that more and more farmers are actively looking for additional income streams, and winemaking can provide a great, fun alternative. For farmers looking to plug the holes in income following the changes to farm subsidies, if their soil ts the bill, investing into creating a vineyard could well be a timely exercise, particularly if UK wines continue to grow in popularity. There will shortly be a diversi cation grant coming available under the Rural England Prosperity Fund which is set to include funding for processing equipment and buildings amongst other projects. These funds are being delivered by di erent local authorities, which will make decisions on eligibility and what the funds can be used for, however they could well provide a substantial leg up for those looking to start out on a new vineyard venture.

41 acres

Newton Court Farm

Newton Court Farm offers the opportunity to purchase a superbly renovated farmhouse with its own productive vineyard. This unique opportunity offers several vineyard management options, including transition arrangements with the current owners for an agreed period to assist with the handover of the management of the vineyard, a lease out agreement with a third-party grower or immediate in-house management with vacant possession available upon completion. Please contact the agents to discuss the options or to book a viewing.

GUIDE PRICE £1,990,000

• Exceptional renovated farmhouse with spectacular views across its productive vineyard

• 20 acre vineyard planted with Pinot Noir and Chardonnay

• DEMETER certified biodynamic and organic

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• Wine making contract available and options for a management plan or lease outsourcing

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• A range of traditional and modern outbuildings including a magnificent barn and a cider mill with potential to convert (STP)

• Beautiful location on the outskirts of Monmouth with superb access to the wider region to Cheltenham, Cardiff, Bristol and London

• www.powellsrural.co.uk