I finally called at the port stand and was poured a glass of Dow’s 20 year old Tawny by the chairman of Fells, Paul Symington.

 

I always look forward to my visit in early January to the Fells Burgundy tasting, as it is a welcome sign that Christmas is out of the way and the excitement of the New Year beckons (please don’t groan).

This year there was a change of venue for the tasting to the RAF Club in Piccadilly, and as the Service celebrated its centenary in 2018 so the Club was looking in very good nick.

This was my first visit to the Club , as it would have been for a number of exhibitors, and although some aspects of it are very modern – a new stained-glass window commemorating the role of women in the RAF had been unveiled by HM The Queen in October 2018 – others were very ‘time-warp’. I had a strange urge to quicken my pace down a long corridor whilst humming the theme of ‘ The Dam Busters’. I also wondered, surrounded by so many portraits of Air Vice-Marshals and the like, whether I ought to have grown a handle-bar moustache for the occasion. However, once inside a very long room and having been greeted warmly by the lovely Isabelle, I was very much back in primeur 2017 tasting territory.

I take my hat off to our suppliers Fells and Sons, as with Bouchard Pere and William Fevre they handle two of the oldest-established and most reliable domaines in North and South Burgundy. I began at the beginning, with No.1 on the Bouchard list which was a simple Pinot Noir “La Vignee”. But of course I use the word ‘simple’ very loosely, as there was much to entertain in a few gulps of this. I wrote in my notes that I could smell this all day : beautifully rich classic pinot on the nose and lots going on on the palate for around the £15 mark.

I then decided to move north to a Chablis from William Fevre, the Grand Cru Vaudesir, which remains one of my favourites, though in a higher price-band. I notice that immediately below this on the list is the Grand Cru Valmur, also oak-aged which I tasted some time later, and underneath that is the Grand Cru Les Preuses against which I had simply written ‘Blow your socks off!’ .This might have been after a swallowed glass or two of something quite fruity at lunchtime. All these are around £70 mark.

This tasting was not just confined to the Bouchard and Fevre houses. Always able to surprise us, Fells have acquired the Champagne Henriot portfolio showing on the day, which includes the Beaux Freres vineyard in Willamette Valley, Oregon. Beaux Freres specialise in Pinot Noir, so it was logical to combine the tasting. It is quite powerful stuff : the Zena Crown Vineyard Pinot Noir has an ABV of 14.8% . This is something of a contrast to the average 12% in the Old World. Those of you wanting a bit of inside knowledge should note if you don’t know already that beaux-freres is French for ‘brothers – in –law’. The founding owner and president of Beaux-Freres , Michael Etzel, purchased the vineyard with his brother–in –law, one Robert Parker Jr., So now you know.

I was well advised to try a glass of Henriot Brut Millesime 2002 before I left, which is highly recommended and was the perfect end to another enjoyable day on the road.

Just over a month later it was again my palate’s pleasure to be entertained by Fells and Co, this time with their full Portfolio Tasting at the Institute of Engineering and Technology (IET) on the Embankment. This time the wines came from all over the world, so your palate and your stamina needed to be honed for the occasion. Every wine producing continent in the world was there – so the M.O. is just to dive in!

I first found myself next to the Spain and Portugal section and tasted a very appealing 2015 Priorat ‘Perpetual’ from Familia Torres. 70% Carinena and 30% Garnacha yield a good mix of spice and fruit, and an ABV of 14.5%, so quite a good place to start. I also tasted a 2009 Penedes from Jean Leon : ‘Vinya La Scala Gran Reserva’, which was 100% Cabernet Sauvignon and very dignified.

Next I hopped over to South Africa to taste Vergelegen’s GVB 2012 Red, which is a lovely mix of mostly Cabernet Sauvignon and Merlot with a little Petit Verdot and Cabernet Franc thrown in to add more interest. This is special occasion wine and highly recommended.

Italy drew me in next, and I tasted a 2016 entry level Barbera d’Alba DOC Battaglione from Renato Ratti which you could find around the £20 retail price point. 100% Barbera, lovely rich fruit matured in oak – great with a veal escalope! I’ve always preferred Barbera d’Alba to its sister Asti, as Asti seems to be everywhere.

I then tried a 2014 Barolo DOCG Marcenasco,100% Nebbiolo matured in oak – and I can now say I’m beginning to ‘get’ Italian wine, why Barolo is so revered etc. This is a very fine wine and the grapes are distinguishable. I’ve always had difficulty with Italian grape varieties as the wine-growing areas are so concentrated, one runs into another and individual character to my mind becomes something of a blur. Not any more I am pleased to say! In any case, Burgundy and especially the Cote d’Or is comprised of tiny ‘parcelles’, all on top of each other but each with a different characteristic, and you’d never hear me say I had difficulty with them.

Now we come to my Big Discovery of the afternoon, and the wonder is that it’s white! An entry-level 100% Riesling high up in the Eden Valley in Australia : Pewsey Vale Vineyard Riesling 2017. For added interest you could also look out for Pewsey Vale ‘The Contours’ Riesling 2012, aged in bottle for 5 years before release. These two could be found for around the £15 – £25 mark respectively.

Those readers who know my slight bias towards ‘la belle France’ will have noticed that it hasn’t featured greatly so far. That is because the Fells Portfolio tasting tends to concentrate on the New World, and also that the Burgundies have largely been covered by tastings elsewhere (see above).

However I did pay a visit to Alsace, to taste again a wine I’ve just bought a bottle of – Hugel’s 2016 ‘Gentil’. It is their only blended wine, a mix of 41% Sylvaner & Pinot Blanc, 19% Pinot Gris%, 18% Gewurztraminer, 17% Riesling and 5% Muscat. A real ‘pot pourri’ (well perhaps not trop pourri) of Alsatian sunshine.

I finally called at the port stand and was poured a glass of Dow’s 20 year old Tawny by the chairman of Fells, Paul Symington. A fine end to a fine afternoon. I’m looking forward to next February already.

By Jonathan Whittley

 

Our consignment was described in Zachys catalogue as ‘A diverse selection of the most coveted wines in the world’

 

December saw our Managing Director, Enzo Giannotta travel to New York to oversee our first auction in association with Zachys. Founded in 1991, the family owned business quickly became one of the most renowned prestige wine auctioneers in the world. Billed as The Holiday Auction, the Zachys December Sale saw a plethora of the world’s finest and most sought-after wines go under the hammer.

Our consignment was described in Zachys catalogue as “A diverse selection of the most coveted wines in the world” and drew attention from a number of private collectors and consumers, many of whom were in attendance on the day, with more bidding remotely both by telephone and online.

Highlights of the sale included a six litre imperial of the 1974 Heitz Cellar’s Martha’s Vineyard Cabernet Sauvignon, one of only three made which fetched a staggering $96,330*, way above its pre-sale estimate of $40,000 to $80,000.

Other wines to find their price were a six bottle case of Le Pin 2005 which sold for $23,465* and a three bottle case of Domaine de la Romanee-Conti Romanee Saint Vivant 2005 which fetched $8,028*.

A number of lots came very close to their high estimates – various cases of Taittinger Comtes de Champagne 2004 sold for $1,976* per twelve, against a pre-sale high of $2,000 and the 2006 vintage wasn’t far behind, selling for an impressive $1,729* per twelve against a pre-sale high estimate of $1,800.

Italian wines also fared well on the day with two, twelve bottle cases of Sassicaia 2009 selling for $2,347* against pre-sale highs of $2,400 but this was pipped by a 12 bottle lot of Solaia 2009 which fetched $2,717*, exceeding its pre-sale high price of $2,400 by 13%.

Overall the sale was a success and we’re looking forward to further auctions in the New Year. If you would like to consider prestige auctions as an exit strategy for your portfolio, please speak with your Portfolio Manager who will be able to advise on and upcoming sales and the suitability of wines from your portfolio.

*Prices obtained from Zachys post-sale report and include sellers premium

By Spencer Leat

The fine wine market is enjoying its first bull run in a number of years, prompting a flurry of purchasing activity among seasoned investors and wine novices alike.

For many, a good glass of wine is one of life’s greatest pleasures, but for shrewd collectors, it is also one of life’s greatest investments. Fine wine is one of the best-performing assets of the last twenty years, outperforming gold, property, equities and classic cars. This resilience has shown wine to be a reliable long-term investment, providing collectors with an enjoyable way to combine pleasure and profit.

For those with a taste for investing in wine, there is no time like the present. The political shocks of the past year and subsequent market volatility have reminded us of the importance of alternative asset class investments. Now enjoying its first bull run in a number of years, the fine wine market is seeing strong demand for vintage wines from a variety of different producers. Bordeaux may still reign supreme, but bottles from California’s Napa Valley and France’s Rhône Valley are now catching the eye of some more adventurous collectors, suggesting an interesting future for the market. The Liv-ex Rest of the World 50 index has seen an impressive 45 percent growth over the past five years.

New kids on the block
The wine market has long been dominated by the famous vineyards of Bordeaux, where over 8,500 producers work diligently to create some of the world’s best-loved and most prestigious wines. And yet, while bottles from Bordeaux and Burgundy are the pride of wine cellars across the globe, collectors today need to think about broadening their collections. Often overlooked by wine critics and investors, wines from New World regions as diverse as Australia, USA and even China are now enjoying some much-deserved appreciation.

In 2014, five cases Napa Valley’s sought-after Scarecrow 2012 sold for $4,300 a bottle at auction

Indeed, some wines from outside of the Old World have seen impressive growth in their value over the past five years, even outperforming Bordeaux’s in-demand wines. The wine market is also continuing to grow in Asia, where an emerging Chinese middle and upper class is fuelling spending.

Perhaps the most exciting New World region is California’s Napa Valley, which has garnered international attention for its magnificent Cabernet Sauvignon. Nestled between the Vaca and Mayacamas Mountains, Napa Valley’s Mediterranean climate allows its 43,000 acres of vineyards to prosper. In 2014, five cases Napa Valley’s sought-after Scarecrow 2012 sold for $4,300 a bottle at auction, highlighting the investment potential that the region’s produce now provides.

Back in the Old World meanwhile, the industry is also witnessing an upsurge in interest in wines from outside of Bordeaux and Burgundy. Of course, Bordeaux’s internationally acclaimed wines still represent the largest share of trade, but other French regions have begun to truly come into their own of late. Champagne’s timeless sparkling wine has begun to pique the interest of seasoned collectors, while the Rhône Valley’s diverse offerings are also proving popular with investors.

A tempting tipple
There are many different factors behind the growth of the fine wine market, but none are more influential than the advent of the internet and the rise of wine critics. In the past, newcomers to wine collecting relied heavily on the advice given to them by wine merchants and were largely unable to form their own decisions on where best to invest their money. With the dawn of the online era, however, even novice collectors can access a wealth of wine-related information with just a few clicks, making it ever easier to analyse prices and markets before investing so much as a penny.

What’s more, high-profile wine critics have made the market more approachable for wine lovers, drawing them towards wines of note. Robert Parker’s 100-point rating system has become the key quality indicator in the fine wine market and has made it much easier for collectors to identify which wines are worth investing in. However, Parker is now retiring from reviewing Bordeaux wines and is focusing instead of Napa Valley where he is based. With the world’s most powerful critic shifting his focus from Old World to New World wines, we may well see a further broadening of the fine wine market in the years to come.

The best way to approach the market is to build a good relationship with an established merchant. A good merchant will be able to guide you through the market, aide with wine selection, manage your holding professionally and most importantly, offer a variety of exit strategies when the time comes to sell.

For further information call 0208 948 9430.

By Enzo Giannotta

This article was originally published in London Business Matters, the offical publication of the London Chamber of Commerce and Industry

 

We were guided through the estate’s 2016 offerings by Justine Tesseron. This is their first fully biodynamic vintage and I must say the results are impressive

 

On the first Thursday in April Daniel Paterson and I found ourselves on a train from Bordeaux making a pilgrimage to Pauillac. It was not the easiest of pilgrimages – a train journey that ought to have taken an hour at the most ended up taking twice that, as a result of a technical problem to do with level-crossings en route. When we eventually arrived in Pauillac we couldn’t find a taxi anywhere, but since the vineyard was more or less within walking distance Daniel and I set off on foot.

It was a very warm afternoon but fortunately, before we both began to see mirages of Omar Sharif appearing on the horizon astride a camel, we spotted a tractor belonging to the vineyard, its driver tending the vines, and were able to persuade him to give us a lift to the chateau for the tasting.


Daniel and I arrive at Chateau Pontet-Canet

It was well worth the trip – gleaming vats, svelte hostesses in black suits with red sashes, and some interesting wine to taste. What really struck me though was the monastic atmosphere. It was so quiet – we were after all in the middle of miles of meadow – and such a contrast to the hustle and bustle of city life, and indeed city tastings.

We were guided through the estate’s 2016 offerings by Justine Tesseron. This is their first fully biodynamic vintage and I must say the results are impressive. The Grand Vin was very opulent and was the stand-out wine of the two we tasted. Once this wine has fleshed out i’m sure it will be fit for many years of cellaring.


Barrels of wine ageing

The Tesseron family, owners of the Pontet-Canet estate, recently acquired the Napa Valley vineyard formerly owned by the actor Robin Williams and the wine is called Pym-Rae. This was the second wine on offer, of a very different style to Pauillac, but equally interesting. With the domestic wine market in the USA going from strength to strength, this is a project we will be watching very closely.

The return journey was rather easier as it was at the end of the day, and the wine-maker from Pym-Rae kindly gave us a lift back to the station in a Range Rover which the owner of Pontet-Canet had placed at his disposal.


Vats inside the Chateau

Earlier in the day – it had been a long one which began with my meeting Daniel at Bordeaux airport around 8am – we visited the brand new ‘Cite du Vin’ wine museum, which you will now find on every to-do list for Bordeaux in existence. It is an impressive building, based on an idea of swirling a wine glass, but Daniel and I found the exhibition all a bit bewildering and disjointed, largely due to the fact that it is very interactive (buzz-word) and involves donning a headset and moving into areas where random commentaries on various aspects of the wine industry assault your eardrums. I may return when i have more time to absorb the information.

I had decided to stay in the Bordeaux area for a week so the following Monday I made the short journey St Emilion. I was pleased to find that it was not over-run with tourists early in the season, and I particularly wanted to have lunch at ‘La Terrasse Rouge’, a restaurant belonging to Chateau La Dominique, which is on top of a new fermenting room clad with vivid red metal, which looks stunning against the green of the vineyard. The atmosphere in the restaurant was as you might expect not quite as hallowed as that at Pontet-Canet, with an army of staff running round what might have been a city-centre brasserie, were it not for the spectacular views of the vineyard it offers on all sides. I ate from the ‘menu du jour’ and as is often the case with these destination places, the food although good did not quite live up to the surroundings. I recall the item I enjoyed most was a rum-baba, something often found in ‘old-style’ French brasseries though sadly not often on this side of the Channel, and with Brexit looming hardly likely to experience a revival. I also enjoyed a glass of Chateau La Dominique ’13, but moreso a glass of Chateau Fayat ’11.

by Jonathan Whittley

 

The fine wine market had an exceptional year through 2016 with many wines climbing to their highest levels since 2011 and its this performance that has many people viewing the wine market as a suitable store of capital, or safe haven, similar to Gold during these uncertain times surrounding Brexit.

 

The recent global rally of stocks has left many investors in a fairly comfortable position but, as most would be aware, equities have a history of volatility and it it usually only a matter of time before performance starts to tail off. So how do you protect the gains you have made?

Tangible assets, or real assets as they are sometimes called, are physical assets that for many have been a traditional safe haven or store of value. The main strategy is to take capital from a more volatile area following a period of good performance and transfer it to an area that is less volatile for longer term growth, therefore protecting your capital and in turn lowering the overall volatility of your investment portfolio.

The fine wine market had an exceptional year through 2016 with many wines climbing to their highest levels since 2011 and its this performance that has many people viewing the wine market as a suitable store of capital, or safe haven, similar to Gold during these uncertain times surrounding Brexit.

Fine wine’s controlled supply and healthy demand usually helps to keep the market performing well, even if traditional areas begin to falter. The current weakness of Sterling is also helping to make UK based wine stocks much more attractive to global buyers and has given the UK fine wine market a welcome boost. Asian investors have also begun to return to the market after their excitable flurry of trade between 2009 and 2011 which is widely cited as a major factor in the market adjustment that followed.

The wine market’s leading benchmark, the Liv-ex 100, has gained for the past 14 months consecutively. This is the best performance the market has seen since 2010 and resulted in the index delivering 25% during 2016 in comparison to the FTSE’s 19%. For those fearing a repeat market adjustment the Liv-ex 100 is still 18% below its previous peak point in mid-2011.

Unlike equities, fine wine should be given a long term view and historically the longer the view the better – the longer you hold on to fine wine the more consistent the returns can become. This is because of the supply and demand nature of the market, the longer you store a classic vintage of Bordeaux the more drinkable it will become and less of it will remain in circulation which should push values upward.

The fine wine market is being used by an ever growing number of investors as it offers portfolio diversification, consistent returns and potential tax benefits, something that investors will be seeking to build on as global economic and political uncertainty continues.

If you would like to make some purchases specifically for longer term growth Cult & Boutique Wine Management will be happy to recommend the best wines for your portfolio.

by Spencer Leat

Many years ago, just after I left school, I worked as a Production Assistant in a publishing company in Muswell Hill in north London, down the road from where I lived. The Production Director was quite eccentric – my interview for said post took place at 6pm in the evening, lasted two hours and included him inviting me to sing a few bars of a Mahler symphony.

He wrote a cookery column in the Saturday Telegraph magazine. The column would normally consist of two paragraphs of him writing in amusing vein – reminiscing, say, about having been taken to tea by his grandmother at Fortnum & Mason, and then for the final paragraph ‘doctoring’ a recipe from The Reader’s Digest Cookery Year, altering quantities here and there for copyright purposes.

What, you may be thinking, has any of this got to do with your roving correspondent’s contribution to this newsletter? Well if I’m not careful I may take you all on a streams-of-consciousness-type journey as I wax lyrical having just returned from a few days in Burgundy, an area of France which remains very close to my heart having spent a year as a student at Dijon university in the early 80’s. My visit may or may not have been prompted by a quite exclusive Burgundy ‘En Primeur’ tasting of the 2015 vintage that I went along to recently.

The two producers showing were Bouchard Père et Fils and William Fèvre and the venue was Brown’s Hotel in Mayfair, and was different again to the St Emilion and Bordeaux tastings I had been along to before. I felt as though it was a more intense occasion than either of the Bordeaux tastings, which might have been due to the dimensions of the room, which was the size of a private dining room. The intensity of the occasion was slightly leavened by the presence of Robin Warren-Adamson, our contact with the distributors, who did his utmost to make me welcome.

I have to say that unlike the Bordeaux tastings, neither producer had wines from earlier vintages to compare tastings of the new growth with – so I felt slightly short-changed. This difficulty was particularly evident when tasting the whites, as generally speaking they all lacked, doubtless as a result of their newness, much in character to distinguish one AOC from another. I even had a job to enthuse about the Corton-Charlemagne, from Bouchard, which has always struck me as the ne plus altra of Burgundy whites. It also told me that tasting wines ‘en primeur’ is not an easy thing to do by any means and that you can never learn too much about what to look for when swilling a mouthful of grape around your palate.

The reds were generally more interesting – no surprise there then! – a lot of typical, subtly fruity Pinot Noir softness. It is ever a surprise to me that these tiny villages – Volnay, Pommard, Chambolle-Musigny – often one-horse towns, have around them some of the most valuable real-estate in the world, because of the quality of the wines produced in a comparatively small geographical area.

The powers that be have asked me – quite a privilege this – to recommend one white wine and two reds from the 2015 Burgundy tasting, which I am delighted to do for them and for you.

Here goes: my white selection is a Chablis Grand Cru Vaudésir from William Fèvre. My two permitted red selections are: Savigny-les-Beaune and Le Corton Grand Cru, both from Bouchard Père et Fils. I was particularly impressed with the Le Corton, not having come across it before.

And finally, here is a surprise tip! Wandering around the streets of Beaune on my recent visit I came upon a wine-bar, La Maison de Maurice, where I tasted a very fine St Aubin Le Ban 2009 from Domaine Derain. A magnum would have cost me 65 Euros, so it’s not top-end in price, but it speaks to me of the essence of the ‘terroir’. I have no idea where to find it in this country but we have people working on it as I write. Santé!

William Fèvre Chablis Grand Cru Vaudésir – Fresh, refined aromas of flowers and fruit. On the palate, it is distinguished by particular subtlety: a delicious blend of softness and liveliness. Round and airy, it is very charming from its first youth.

Bouchard Père et Fils Savigny-les-Beaune
– Delicate bouquet with berry fruit notes. On the palate, seductive with the subtle intensity of its aromas and for its tenderness. Good ageing potential.

Bouchard Père et Fils Le Corton Grand Cru – Intense bouquet with aromas of red and black fruit, spices and a touch a oak. Rich and structured on the palate, this wine needs a bit of patience in order to reveal its raciness and great distinction. Excellent ageing potential.

by Jonathan Whittley

 

I have a very soft spot for Ormes de Pez as some years ago I asked the sommelier at Le Chapon Fin, a very fine-dining restaurant in the heart of Bordeaux to produce a wine flight for me with my three course dinner there.

 

After the hustle and bustle of ‘IMBIBElive’ I was pleased to be dispatched to the more select surroundings of the Royal Horticultural Society halls in Westminster in October to the annual tasting hosted by the Union des Grands Crus de Bordeaux, this year presenting its 2014 vintage. With 110 members represented, and only four hours to pace yourself tasting, it is impossible to taste wines from every chateau, but I did get round to tasting wines from most of the 13 ‘appellations’.

I am discovering that the pleasure of these occasions is not derived solely from tasting some Class A claret, but also that you tend to bump into the same faces while you are tasting, which cannot help but contribute to the proceedings. My old friend Douglas Harrison, who I ran into at the Leadenhall Saint-Emilion tasting, pointed me towards Chateau Gruaud-Larose from St Julien, which shows great promise. At the Leadenhall tasting I had also met Nick Breeze, who runs a very lively wine blog. Here he was again, and I pointed him in the direction of Chateau les Ormes de Pez, from St Estephe.

I have a very soft spot for Ormes de Pez as some years ago I asked the sommelier at Le Chapon Fin, a very fine-dining restaurant in the heart of Bordeaux to produce a wine flight for me with my three course dinner there. The restaurant is unusual in that one wall is composed entirely of coral. I sadly forget the dish which the sommelier chose to pair with a lovely glass of Ormes de Pez, which was not in itself of no consequence, but the wine I found quite memorable and have enjoyed several glasses since. Oh yes, and for the record Nick Breeze found it the most interesting from a dozen chateaux from the same region side by side along the table.

More recently, I stayed at Le Moulin de l’Abbaye in Brantome in Perigord. All the bedrooms were named after Bordeaux wines or regions, and mine was named ‘Cos d’Estournel’, a well-known Saint-Estephe. Sadly this chateau was not represented at the tasting , but one which was was Chateau la Dominique, a Saint-Emilion, which I had read has a new cellar, coloured bright red, designed by the architect Jean Nouvel. I engaged the general manager in conversation about this, and will pay it a visit next time I am in the area.

I also tasted a very fine Chateau Pavie-Macquin, a domaine I was already familiar with from the St Emilion tasting earlier in the year, recently awarded (91 – 93) points by Neal Martin of The Wine Advocate. I had seen it on another prominent wine merchant’s website, and as chance would have it I bumped into the founder very near the table, so I mentioned the Wine Advocate score. He replied rather loftily – I choose my adverb carefully as he stands at over 6 foot – that ‘points are points’, with a slight ‘harrumph’ in his tone, suggesting that he didn’t set great store by them. I can see that he has a point (sorry), as although Neal Martin is a fair and renowned guide, how you apportion points can often be very subjective. I tend to think of them as rather like school league-tables, which register the percentage of exam grades attained while telling you very little about extra-curricular activities or the character of the institution as a whole. The merchant in question does however make a point (last time, honestly) of including this information on his website.

I am writing this shortly after the annual wine auction at the Hospices de Beaune takes place. I hope to write a little more about this event and Burgundy in the next newsletter. ‘Sante!’

by Jonathan Whittley


The Penfolds Collection 2016

Cult & Boutique Wine Management were very privileged to receive an invitation from Penfolds to an exclusive tasting of The Penfolds Collection 2016 Preview, held at The Institute of Directors in Pall Mall on 29th September.

Daniel Paterson and Spencer Leat attended, along with an impressive contingent of UK wine critics and writers including Oz Clarke (TV & Press), Steven Spurrier (Decanter), Anthony Rose (The Independent & Decanter), Sarah Ahmed (Decanter) to name but a few faces, as well as select members of the UK fine wine trade.

The preview offers the trade and press an opportunity to sample the latest Penfolds releases ahead of their official release in October and covers a broad selection of the range, from the bottom right to the top.

For the 2016 Collection Penfolds have teamed up with French Maison Saint-Louis, the oldest glassmaker in Europe and one of the most prestigious crystal houses in the world, to create some interesting pairings with their flagship wine, The Grange.

Of the 13 red wines and 4 whites on offer we managed to whittle our favourites down to five wines from across the range, listed below in ascending price order.


Spencer & Peter discuss winemaking processes

Bin 51 – Eden Valley Riesling 2016
Trademark florals, zesty acidity and pronounced varietal flavour expression reinforce Eden Valley as a Penfolds Bin 51 Riesling region of choice. Will not disappoint. No doubt many ice buckets patiently await!

Bin 150 – Marananga Shiraz 2014
Sub-regional pedigree re-defined, courtesy of Marananga and four of the six local growers who also contributed to its 2010 delivery. An oscillation of power and refinement, presence and poise. 40% of blend captured and nurtured in puncheon. Vibrant, vivacious and vital.

Bin 389 – Cabernet Shiraz 2014
At this stage Cabernet in winning in the 2014 Cabernet and Shiraz tumble… Sits at the defined / linear end of the structural spectrum, albeit still retaining a succulent and juicy texture, tempered by mouth-watering acidity.

St.Henri – Shiraz 2013
Things are getting serious in an understated St Henri sort of way! This wine may be initially missed on a busy tasting bench but once properly tasted, never forgotten. Reminiscent of the 2010, 1998 and 1976 St Henri’s – statuesque, brooding, complex and aromatically ‘Old Style’. All Penfolds 2013 reds released to date have benfitted from time in bottle. No exception here but okay to open now or will cellar for the next four decades, plus!


Daniel Paterson with Peter Gago, Chief Winemaker, Penfolds

Grange 2012
Sometimes tasting notes such as these are difficult to articulate. Not this time. Channeling the 2010 Grange – an unfolding kaleidoscopic vinuos mosaic of charm, allure, character and cerebral reward. Complete. Stylistically, most closely aligned to the 1963 Grange and yet extolling it’s own personality. Luxury that treads lightly!

All in all we were very impressed with The Penfolds Collection 2016, aside from the usual suspects that clients will recognise from their portfolios, Grange & 707, there were some great wines from lower in the hierarchy that punched way above their weight. Its still too early to give full details but we have some plans on the horizon that will offer Cult & Boutique clients an opportunity to acquire some of these wines at very competitive prices – so watch this space.


Daniel (left) with Peter Gago (right) and Steven Spurrier (far right) – Oz Clarke in the background!

by Spencer Leat

 

The palatial exhibition hall was teeming with all sorts and conditions of tattoos, beards and geeky glasses

 

We sent Cult & Boutique Wine Management’s Jonathan Whittley along to two recent trade events to offer clients a peek behind the curtain. The Saint-Emilion tasting in the City of London offered the latest 2015 vintage from a selection of Chateaux along with older vintages of the producers choice. This was closely followed by a visit to IMBIBElive at Olympia in Kensington which has a much broader range of drinks trade related stalls as well as catering to the discerning wine buyer and consumer.

Saint-Emilion Grand Crus Classes Tasting

The Leadenhall Building is one of an ever-increasing number of landmark skyscrapers that are springing up on London’s panorama. Commonly known as ‘The Cheesegrater’ and designed by the Rogers Stirk Harbour Partnership – yes, Lord Rogers of the Lloyds building – it is angled at 10 degrees to accommodate planning requirements protecting views of worthier and more ancient landmarks such as St. Paul’s Cathedral and the Palace of Westminster.

The venue almost at its 250m summit is called ‘Landing 42’, and I had the good fortune to be dispatched there by the powers that be at Cult & Boutique to a tasting given under the auspices of the ‘Association de Grands Crus Classes de St Emilion’.

If that sounds quite a mouthful, it was as nothing to the several mouthfuls of extremely good vintages of St Emilion I tasted, some of which I actually swallowed completely on good advice!

The base of the cheesegrater forms a canopy over the street beneath it. Reception, which I would guess is on the third storey, is reached by an escalator from the street. There was a suited discreet gentleman beside the escalator in order to prevent undesirables going up it . I told him that I was here for the wine-tasting and he said I was to give my name to the “girl over there”. The GOT, on whose i-pad shone my credibility, was equally charming and motioned me up the escalator, by-passing tedious TfL- style security gates and up in a lift to the 42nd floor-a journey which took all of 30 seconds, just like it said in the blurb.

Spencer had said to me that I would be in my element as a fluent French speaker, as everyone at the tasting he attended last year spoke in French. It may have been something to do with the low ceiling and the spectacular vistas of the metropolis to be viewed all around, but in a slightly serious and hallowed atmosphere I could actually have done with speaking a little more French than I did.

The first person I recognised was an old wine hand I know called Douglas Harrison, of Harrison Wines in Ealing. He is a man who knows his Julien from his Estournel, and so when he pointed me in the direction of a 2005 Chateau La Tour Figeac and said “Don’t spit it out !” I was hardly likely to disobey him.

On these occasions you can learn as much from the various people you meet as you can from tasting the wine itself. I became aware of an organisation hitherto unknown to me called the ‘Jurade de St Emilion’, a brotherhood of wine enthusiasts acting as ambassadors for St Emilion across the globe, and assuring its quality control. It even boasts an English Branch, with two ‘Chancelleries’, one in London and the other in York. The Chancellor of the Chancellery of York is a very genial barrister called Tim Hartley, who went to some length to tell me that the St Emilion brotherhood was founded centuries before its Burgundian counterpart. I actually don’t think he’s quite right, as his brotherhood was ‘resurrected’ in its present form in 1948, after its predecessor, carrying much greater jurisdiction, was disbanded in 1789. But there’s only a few years in it, the Confrerie des Chevaliers du Tastevin in Burgundy having been founded in 1934, so I’m not going to argue too much.

All in all, as is to be expected, one 2015 vintage St Emilion ‘Grand Cru Classe’ tasted much the same as another at this very early stage – all were stunning in their own right and 2015 will definitely be a Saint-Emilion vintage to watch, so expect high scores from the critics. The fun was to be had tasting the greater and more noble vintages (and chateaux) to give the wine-buyer an idea of what their investment could produce in years to come. But by all accounts, when the time comes, I will be very hopeful that future generations can deliver the same verdict on St Emilion 2015 as did Mr Sinatra on another subject : ‘ It Was A Very Good Year’. He was singing about love as ever – but then when hasn’t a glass or two of good wine helped that along ?

IMBIBElive 2016

If the Leadenhall St Emilion tasting could be characterised as a tweedy, sage, anecdotal uncle, then ‘IMBIBElive 2016’, which took place in early July at Olympia, was definitely his all-singing, all-dancing teenage niece. The palatial exhibition hall was teeming with all sorts and conditions of tattoos, beards and geeky glasses.

IMBIBElive is a trade fair geared in large part to the drinks on-trade : cocktails, beers, spirits etc., so not of great interest to the discerning Cult & Boutique wine investor. Several of the above mentioned fashion specimens wore lanyards proclaiming ‘Bartender, Dog and Duck’ and suchlike, and had figures to match. But there were some informative wine seminars which I had put myself down for.

The first and probably best of those I attended was a palate training exercise, effectively a blind tasting, presented by Ronan Sayburn – a Master Sommelier. Four wines were placed in front of us, white and red, young and not so young, and it was down to us to guess – looking at acidity, colour, legs – where they came from. Along the way we learnt a lot about what to look for and how to describe features and taste. A word which has hitherto not graced my vocabulary is ‘anthocyanin’, which I encountered for the first time, and without wishing to go into geeky wine-chemistry detail, is an agent in the colouring of red wine.

The next seminar on my list was entitled ‘Orange Is The New Wine’ and centred on the current trend for orange wine. I would be quite happy, as I am with several current trends, to pass it by. It involves leaving the grape skins and seeds in contact with the juice while fermenting , producing the orange colour. Again there were four wines in front of me, and I can’t say I found any of them interesting. They were all quite bitter, and tasted variously of Campari – which I don’t like anyway – or rather musty Grand Marnier.

I am afraid that a small domestic crisis involving a cracked water-pipe prevented me from attending a Food and Wine Pairing seminar the next morning, though I did manage to make it to a session on biodynamics. This was given by an Austrian whom I might describe as the Billy Graham of organic wine-growers. He was very evangelical about his craft, how it did the least harm to the environment – no pesticides etc – but after 20 minutes of monotone heavily accented ranting I gave up and went to have a glass of very good ‘Assemble’ Methode Traditionelle Brut from No1 Family Estate in Marlborough NZ. How could I resist it when poured for me by the charming Virginie, who is the daughter of the Family, and her stand, under the Amathus Wines umbrella, had a prime position just inside the entrance to the hall.

The final seminar I went to was Jeremy Seysses, of Domaine Dujac in Burgundy. We compared a number of different appellations from the same year -2013- with the same one across different years, stretching back 20 years. As with the St Emilion tasting, all the 2013 wines had yet to release their full potential, whereas the vertical tasting was more interesting, a 2001 Clos Laroche being my favourite.

So to sum up my visit to IMBIBElive , I would say that although it is first and foremost not an exhibition primarily angled towards the typical Cult & Boutique client, the wine seminars were interesting and informative, and I did come away with more knowledge of an area where the discerning wine-investor can never know too much.

by Jonathan Whittley

If you are a Cult & Boutique client you should have received a letter from us recently announcing the relocation of our company and client stock holdings from London City Bond in Hillington, near Glasgow to their state of the art fine wine storage facility named Vinothèque, in Burton-upon-Trent.

As stated in the letter, this is a huge bonus for our clients, as we have negotiated with London City Bond for our clients to continue paying the lower priced Hillington rates for storage at Vinothèque. Stock movements began on 6th June and are anticipated to take between two to three months to complete. If you haven’t visited your wines before, we would highly recommend a journey to Burton-upon-Trent to be shown around once the relocation is complete.

If you have any questions feel free to contact your Portfolio Manager directly but in the meantime ahead of the relocation of our stock holdings to the Vinothèque facility, we spoke with the General Manager, Jane Renwick to find out more.

How long have you worked at London City Bond?
I have been working for LCB Vinothèque for just over 3 years; previously I spent 20 years with Octavian.

What does your role as General Manager at Vinothèque involve?
As General Manager I am involved in the day to day running of the operation; a few examples of my duties are the maintaining of customer relationships for both the internal and external customer, looking at ways to improve our processes and make the necessary changes, system improvements/enhancements, marketing, accounting/budgets and staff development. I am fortunate in having a very dedicated and strong Management team who work alongside me in making Vinothèque a leading fine wine storage facility; we are constantly looking at ways to improve our services to make the experience of storing fine wine as enjoyable as the product itself!

What keeps you inspired at work?
Having worked in the wine industry for over 23 years, I still feel as passionate about the business as I did on my first day. My role is very diverse and I am engaged with the business at every level so no one day is the same. Working for a prestigious, forward thinking company has allowed me to expand my skills and develop those of my staff. I am a great believer that within the service sector people make a business, the more you engage with your staff the more effective they become resulting in more reward for all parties.

What makes Vinothèque unique in the world of wine storage?
The people! With an average length of service of more than 10 years, staff turnover at Vinothèque is extremely low. We believe product knowledge is a key requirement for our team and as such we have encouraged them to progress through the industry recognised Wines & Spirits Education Trust programme. Vinothèque has undergone extensive refurbishment whilst in the ownership of LCB, including a spend of £1 million to install fully controllable air conditioning and humidity control, capable of allowing us to maintain the temperature of 13 degrees plus or minus 1 degree throughout 365 days of the year. Should there be any deviation from this, for whatever reason for more than 20 minutes an alert is automatically sent to senior members of staff. This is a unique system within warehousing of this type anywhere in Europe.

We won the Best Supply Chain Innovation Award in 2015 for our commitment to our customers to ensure that their wines are stored and matured in perfect conditions.

All deliveries from Vinothèque are provided by our unique and dedicated LCB network, which in peak times can deliver more than 20,000 orders each week through its hubs in Tilbury, Barking, Cambridge, Melksham, Burton upon Trent and Glasgow.

What are the benefits of storing wine at LCB Vinothèque in comparison to LCB Hillington?
We have invested heavily in a bespoke air conditioning and humidity control system making conditions perfect for the storage of fine wines, coupled with enhancements to our security system, to include 24 hour external CCTV monitoring and an on site security guard. With over 6,000 private customers holding their fine wines at Vinothèque we understand the importance of customer care and as such have a dedicated and experienced customer services team who will assist the customer with all types of enquiries allowing for one point of contact and by having such individual attention it has proven to be a great way of building a solid business relationship. The introduction of a bespoke photographic studio allowing the customer to view their bottles of wine and case from their own computer in the comfort of their own home has proved invaluable, of course for trade customers it is a great tool when looking to sell or buy wine.


Inside the Vinothèque warehouse

Is it a huge undertaking to relocate our Clients’ wines to Vinothèque?
We are very experienced at transferring fine wines whether they are from another bonded facility or a private residence but we will monitor the entire process to ensure a smooth transition and keep you updated on progress on a regular basis. Our ultimate aim is to ensure there is no interference with our services and that you and your customers experience a seamless transfer.

What is the process if our Clients want to visit Vinothèque to see their wine and the premises for themselves?
Something we always encourage, not only for the purpose of the customer being able to view their wines within our bonded facility but also this allows them to meet our teams, put a name to a face. However, we would ask the customer to make contact with Cult & Boutique in the first instance to advise of their request. This ensures that all parties are aware of the visit for the purpose of planning with our Stock Control team and for security reasons.

What is the total capacity of Vinothèque and what plans do you have once it’s full?
Our current stockholding is 520,000 cases, when Vinothèque reaches capacity we plan for other facilities around the country to include an additional site with Burton.

Do our Clients’ wines have the same level of insurance cover as they had at LCB Hillington?
All terms remain unchanged.

On the rare occasion that you get some down-time, what’s your drink of choice?
Love bubbles – in particular Taittinger Champagne!