Gironde : properties of charm amidst the vines

One of the most prestigious and widely-renowned wine prod­ucing areas in the world, the vineyards of Bordeaux also play host to a remarkable heritage in terms of real estate which has endured throughout the ages while keeping count of the vine harvests. A heritage nestling amidst the vines, with its own specific features.

With some 296,400 acres of land covered by an inestimable variety of “terroirs” (38 different “appellations”), the Gironde is certainly not lacking in vineyard estates of character, witnesses to age-old expertise acclaimed all over the world. “Girondines”, “chartreuses”, master residences, manors and even châteaux in L’Entre-deux-Mers and areas such as Saint-Emilion, all comprising a wide choice, diverse and unusual. Usually built of stone in the 18th and 19th centuries, these properties do not always come with working vineyards, which have sometimes been disposed of through sales or inheritances. In any event, the vines are never far away, and the existence of large outbuildings is very common (mostly wine cellars and stables, but few basement cellars). Many old features are still preserved : towers, pigeon lofts, exposed beams, wood panelling, stone hearths, Gironde tiles, stained-glass windows… Lots of properties which have been treated to renovation (sometimes very modern) also benefit from swimming pools.

“This prestigious market showing relative stability in terms of prices is now seeing a lot of renewed interest,” says William Andrieu, a property consultant with the Agence B. Lafaye (ex-Maison Le Deunff, founded in 1935 and taken over in 1979), specializing in high-end real-estate in Bordeaux and within a 100-km radius around the city. “Transactions are particularly brisk in L’Entre-deux-Mers, for prop­erties 25-30 minutes from Bordeaux priced from 800,000 to 1.2 M €.” One example : a fully renovated 18th-C. farmhouse of 450 m2 with historic features, preserved and modernized, on about 30 acres of land, which recently found a taker at 980,000 €. “We have also just sold a renovated property of 460 m2 with 600 m2 of outbuildings on 74 acres of land, 45 minutes from Bordeaux, at 850,000 € : a particularly appealing price, determined by the property’s distance from the urban centre.” For the Agence B. Lafaye, clients for these properties of charm and character are mainly Parisians and French ex-pats wanting to invest for when they come home. Foreigners are thinner on the ground. “They are often looking for a holiday home where they will live permanently when they retire.”

Pierre de Luzan, representing Mercure Bordeaux-Aquitaine, an agency specializing in properties of prestige and character in the region around Bordeaux and the Bassin d’Arcachon, confirms an upturn in business : “Following a steady decline since 2007, especially for properties more than 30 minutes from Bordeaux, prices seem to have stabilized over the past year : the market seems to be picking up”. In fact, prices mostly range from 600,000 to 2 M € depending on the location, environment, architecture, surface area and, of course, the existence of a vineyard (and its quality). “For instance, our most recent sales included an 18th-C. “chartreuse” surrounded by vines just 15 minutes from Bordeaux, at 770,000 € (with renovation required), and a property situated between Saint-Emilion and Bergerac, less than an hour from Bordeaux, priced at 1.4 M € : this 17th-C. château offered elegant reception rooms and attractive outbuildings suitable for conversion, on 69 acres of land including 37 acres laid to vines and leased to a vintner.” Mainly receiving enquiries for year-round homes, Pierre de Luzan describes a very varied clientele : “Foreigners in search of a pleasant climate and the French art of living, couples seeking new professional occupations and better living conditions, retirees wanting to invite their children and grand-children to a pleasant family residence... What they have in common is the budget necessary to acquire and maintain an asset of quality, which very often proves to be “love at first sight”.”

Focusing on top-notch properties in Bordeaux and the entire south-west, the Maxwell-Storrie-Baynes agency affiliated to Christie’s International Real Estate mentions enquiries from French clients with budgets up to 2 M € or from 10 M € (prestige vintages). “Properties at prices in between draw interest from an international clientele comprised of Chinese buyers - quite numerous now, and for the past few years - Americans, Australians, South Africans, British, Belgians and Swiss,” notes Karin Maxwell, associate director and previously a wine merchant and expert on Bordeaux wines in England. Sure enough, her two most recent transactions involved foreign buyers : a 17th-C. château 45 minutes from Bordeaux with living space of 450 m2 (7 bedrooms) on 84 acres of land including 62 acres laid to vines and retained by the owner, and almost 30 acres leased out (AOC Côtes-de-Bordeaux), priced at 3.6 M € (with several houses, a farm hangar, and wine cellars in good condition) ; and 20 minutes from Bordeaux, an early 19th-C. “chartreuse” totalling 780 m2, restored throughout, in a 14-acre park, priced at 3.2 M € (with a guardians’ house, guest cottage, stables, vaulted wine cellars and a convertible attic of almost 150 m2). “After the slowdown we have seen over the past few years, the market has picked up since September, especially in the case of properties intended for the buyer’s personal enjoyment. Prices are stabilizing and we are receiving more enquiries about holiday homes.”

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