Posted in Estate, Wine on 2 January 2009
Château Latour is a First Growth wine estate famous all over the world not only for its fine tasting wines but also for its interesting history. The Bordeuax brand that has been under the reign of French entrepreneur François Pinault since 1993 may soon chnage hands yet again.
Pinault has put the wine estate up for sale and intends to make $200-$280 million from the sale. Pinault had bought the estate for $150 million and would make a healthy profit from this sale. The new owner of the estate would 190 acres of vineyards, although only 115 acres which surround the chateau in the midst of the estate are currently being used in wine making. Bernard Magrez of rival winery Pape Clément is showing major interest and may become the new owner along with wine fanatic Gérard Depardieu.
Posted in Luxury, Property on 2 January 2009
In Napa Valley, California, dreams do come true, especially if you have the guts to fight for your dreams with your neighbours, the courts and, of course, the money for it all.
Dr. Julio and Amalia Palmaz dreamed of having a humongous winery but found that dealing with their neighbours was more difficult that actually constructing one. The Dunlap’s objected to supposedly dominant manner with which the Palmaz’s handled the situation while trying to build the winery, but the Palmaz’s had been dreaming of this and saving up for over twenty years. After several complaints from a large number of neighbours and court dealings, the project is now complete. The winery is an underground complex spread over 100,000ft, stretching 15 stories below ground and includes two elevators to transport wine barrels and personnel.
