When Chapel Down announced in October that it had cancelled its plans for a sale, disappointment rippled through the English wine industry. Optimism about the sector’s prospects bubbled over last year following a bumper harvest and an uptick in international acquisitions of estates. But as wine estates struggle to attract buyers and reckon with a poor 2024 harvest and a stinging UK Budget, the sparkle has faded.
” Agents said the higher minimum wage and national insurance contributions had hit the viticulture business in the same way they had many sectors in the UK. Winemaking was particularly exposed due to its reliance on lower-paid staff, particularly for vineyard operations, said Nick Watson, head of viticulture at Strutt & Parker. “There has been a lot of uncertainty,” he said, pointing to high interest rates and a rebound in inflation.