My first reaction was that it wasn’t really expensive. Then I realised that 900,000 euro was the price per hectare.
Phelan Ségur belongs to the Gardinier family, who also owns Les Crayères (the most luxurious restaurant and hotel in Reims) and an orange plantation in Florida.
Buyer is Martin Bouygues with family, one of France’s riches industrialists, owner of Chateau Montrose since a few years. Bouygues also owns Ch Tronquoy Lalande in Saint Estèphe and will become one of the biggest vineyard owners in the commune. Montrose will now have 92 ha and Tronquoy Lalande 28 ha. Bouygues could thus create one of the biggest “classified growths” in the Médoc if he chose to use all the 120 ha to make Montrose (which would be possible in principle).
900,000 euro is a record for St Estèphe and brings its prices up to par with Pauillac and Margaux. (Bordeaux seems to be one of the favourite playgrounds for France’s rich. Bernard Arnault (LVMH) controls Ch Cheval Blanc and Ch Yquem, and François Pinault (PPR, Galleries Lafayette etc) owns Chateau Latour.)
More info: www.sudouest.fr
