English wine continues to sparkle | 04

This bodes well for the rural economy, as vineyard numbers grow and with it, their workforce. A survey of the UK wine industry predicted the industry will create between 20,000 and 30,000 new jobs over the next 20 years, providing a sizeable boost to the economy. Many wine producers depend heavily on local tourists and farm gate sales. But there are signs that, like the wines themselves, English wine tourism is becoming more sophisticated and helping to drive growth. Not just tours and wine tastings, but many offer authentic on-site accommodation. People are keen to tour vineyards and there are now more than 150 open to the public. Whilst most visitors are currently UK-based (some 86%), there are many opportunities to attract more inbound visits through export activity in key markets. By 2040 wine tourism revenue could reach around £658m or 7.8m visitor nights. There are specialist companies like https://www.englishwineadventures.com or https://www.englishwinetastingtours.co.uk encouraging people to discover England’s blossoming wine region ‘Ideal for individuals, group bookings, corporate events and hen parties’ according to their website.

A knock effect of the growth of the wine industry has been the substantial increase in investing in fine wines. A key attraction of investing in wine is that, unlike shares or buy-to-let properties, investors may not need to pay capital gains tax (CGT) on any realised profits. HM Revenue & Customs considers most wine to be a ‘wasting asset’, in other words, a commodity that has a predictably useful life of less than 50 years. This is despite fine wines often appreciating quite considerably in value within that time. Some other reasons to add wine to an investment portfolio include performance, tangible investment, liquidity and a hedge against inflation. Investing in fine wine is becoming better understood by investors as an important component of a well-balanced and robust portfolio.

This is no longer the sole domain of the wine traders. In recent decades, the investment wine market has become vastly more accessible. The establishment of the London Vintners Exchange (Liv-ex), a global platform for wine trading and indexing, has led to more transparent pricing and information. However, since direct trading on the Liv-ex is only available to professional wine merchants, most private investors purchase their wines directly through distributors, auction houses or the secondary market via fine wine retailers.

Another method is to buy wines En Primeur, or through wine futures, which allow you to invest in wine while it is still in the barrel. You can purchase such futures up to 18 months before the official release of a vintage. However, note that the value of the wine isn’t guaranteed and may actually decline between the time of purchase and time of sale. For experienced wine collectors, auctions are more than mere opportunities to buy or sell assets, they are a place to come and enjoy the overall atmosphere of fine wine and dining. There is passion behind the act and a thrill associated with the chase.

It is beyond the remit of this article but a guiding principal is to go for quality from a reputable dealer and store the wine correctly. Many of the leading wine merchants have excellent advice, offer cellar storage and buy/sell platforms. Investing in wine provides you with an asset that not only has potential for future growth, but is also tangible in some cases. For the most part, if the price drops or if the performance isn’t what you expected, you can at least drink the wine and derive pleasure.

The old adage used to be “buy three cases, and sell one to pay for the other two”. That can still be true, but not at all levels of investment. To quote our local wine merchants Berry Bros & Rudd “There’s no magic formula for building a fine wine collection. It takes time. Like a painting, it’s created in layers – brushstrokes – some things added, some taken away. But when, at last, you savour a bottle you love at its peak maturity, it is one of life’s great pleasures.”

Bob Bickersteth

The London Office has acted on behalf of high calibre Chartered Surveyors and Estate Agents for over 29 years. Our role is to provide our members with an extra dimension to the services they offer. This enables their clients to receive the best local expertise, supported by national and international marketing. Operating from our central London office in St James’s, we are in a strong position to provide advice to prospective purchasers or vendors. Our large prominent window displays, show properties throughout the regions and act as a magnet to passers-by who stop and browse. We have successfully introduced buyers to some of these featured properties. Whether you are looking to buy, considering selling, contemplating renting or simply requiring general property advice we would be delighted to help. We hope you will enjoy the selection of properties from our members on the following pages.

The London Office 40 St James’s Place, London SW1A 1NS T: 020 7839 0888 E: bob@tlo.co.uk www.thelondonoffice.co.uk

South East

The country lanes of Kent meander through lavender fields, apple orchards, vineyards and hop fields; such natural features come together to form this rich countryside tapestry commonly dubbed as the Garden of England. Whilst the rural backdrop is renowned for its quintessentially English beauty, the expanding market town of Ashford can be considered a continental gateway, due to the International Passenger Station, the nearby Channel Tunnel Terminal and high-speed commuter service to London. The infrastructure in this part of Kent includes access to both the M20 and M2 motorways, providing fast links to the M25 and channel ports. Sussex and Hampshire benefit from the arguably unbeatable combination of proximity to both the capital and the coast. One can enjoy the delights of the southern shoreline, like the sandy beaches at West Wittering, the chalky cliffs of Beachy Head and the extensive sailing facilities of Chichester Harbour. For sporting enthusiasts, there are international polo events at Cowdray Park in Midhurst, and Goodwood hosts a number of world-renowned motor and horse racing events, including The Festival of Speed and Glorious Goodwood.

A short distance across the Solent is the Isle of Wight, only ninety minutes to London, hosting world-class yachting facilities, stunning coastlines and a great climate, definitely creates an enviable lifestyle.

e Campbells Team are widely-experienced, independent property professionals with keyThe Spinnaker Tower, Hampshire knowledge of the local market. eir expertise will make your purchase or sale an excellent experience.

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