Date£º
2014-10-22 09:21 Source£º
thedrinksbusiness Author:
Simon Howland Translator:
Chinese nationals are expected to dramatically increase investment in Australian wineries over the coming years, according to data released by Credit Suisse.
The Switzerland-based multinational has predicted the Chinese will spend A$44 billion on Aussie real estate over the next seven years and wineries are of particular appeal, according to the BBC.
As reported by the drinks business, Australia is witnessing a rush of Chinese buyers looking for a glamorous piece of Australia, much like the boom in Japanese investment in Australian holiday resorts during the 1990's.
Chinese requests for wine have turned into requests for wineries and wealthy Chinese buyers have taken particular interest in purchasing a combination of functioning wineries and a market-ready brand with established distribution such as occurred earlier this year when Chinese businessmen Zhitai Wang and Kuifen Wang purchased the historic Yaldara winery in South Australia's Barossa Valley for A$15.5 million after previously acquiring the nearby 1847 Winery.
And while there are concerns about established wineries being sold offshore as suggested to the BBC by Australian wine consultant Stephen Strachan, the influx of Chinese investment is generally viewed positively as Chinese investors tend to retain the services of local viticulturalists and, in some cases, such as that of Ferngrove Frankland river Wines in Western Australia, Chinese investment has resulted in much sought after access to the Chines market.