Bernard Magrez, owner of Chateau Pape Clement in Bordeaux and 34 other estates worldwide, has sold his Bergerac property Domaine des Songes, and bought a vineyard in the Douro Valley.
Bernard Magrez, owner of Chateau Pape Clement in Bordeaux and 34 other estates worldwide, has sold his Bergerac property Domaine des Songes, and bought a vineyard in the Douro Valley.
Domaine des Songes was bought four years ago, in 2006, but Magrez has made no secret of feeling it was a mistake to purchase the property, despite investing heavily in it.
‘I didn’t realise it would be so difficult to sell a Bergerac wine,’ he told decanter.com.
‘I tried to make a high-quality wine, with low yields and high production values, but the appellation simply couldn’t support the price.’
Instead, he has returned to a vineyard area where he started his career selling Port wine, buying a vineyard in the Pinhao region of the Upper Douro and producing a wine that will be bottled under the name Esperança.
‘I will be producing purely a still red wine, but from the same grape varieties as Port: Touriga Nacional and Touriga Franca.’
Production is expected to be around 8,000 bottles per year, and the first vintage will be 2009, to be bottled in last 2010.
Magrez refused to confirm reports that he was also looking to increase his vineyard holdings in Bordeaux, putting in an offer on Chateau Beychevelle in Saint Julien.
‘Somebody will say I’m buying the Eiffel Tower next, so I have stopped commenting on potential purchases.’
Written by Jane Anson in Bordeaux
