Chapter 161: Buy a manor and send it to the winery
Coles was preparing to return to Canada, but also had to sell the Napa Valley property due to personal financial problems.
Running a wine business in Napa Valley is not as easy as imagined. Coles invested too much in building the Coles Manor and owed a large loan from the bank. It also ran a winery in the Stags Leap District and invested a huge amount of money.
, but comparing the profit and investment, it’s a huge loss...
The price of Coles Manor was US$95 million, but the agent was frustrated and the price could not be negotiated. But if you buy Coles Manor, the other party will give you a winery, which is Coles Winery in Stags Leap District.
Stags Leap District, Napa Valley's top producing area, truly has every inch of land at a premium. Here are many well-known wineries in Napa Valley, such as Yinduo Winery, Stags Leap Winery, etc.
The average transaction price of vineyards in this production area is US$470,000 per acre.
Buy a manor and get a winery?
watt?
Chen Mo was stunned for a long time after hearing the news, and quickly checked Coles Winery.
The winery has been established for 5 years and now has three products. The Coles 2013 Cabernet Sauvignon wine has a Parker score of 83 points and a "Wine Spectator" score of 85 points...
The other two works also received similar ratings.
What is this concept? An excellent and characteristic wine. A wine between above average and very good. It shows different degrees of excellence and taste, and does not have too many flaws.
The wines of Coles Winery cannot be said to be very good. Because this type of wine is in the Stags Leap area of Napa Valley, a production area where famous wineries gather, wines with a comprehensive score of less than 86 points are considered unqualified wines.
Deer Leap District is so capricious.
The Coles wine score is priced between 13 and 20 US dollars per bottle. The annual production is 1,000 cases, which is 6,000 bottles... There is no wine with a score of 91 or more, which can make you cry.
Coles Winery has 30 acres of vineyards. The winery pursues 'fine quality'. Only the best grapes are selected from the 30 acres of vineyards, and about 1,000 cases of wine are produced... Such a low rating, I'm so sorry for the 'fine quality'
A word.
The winery has only been established for a short time and has no outstanding works, which means... it has no brand value.
The most valuable parts of the winery are the vineyard, winery residence, winemaking workshop and built wine tasting room. If sold separately, the value of the winery should be between 20 million and 25 million. But it is not easy to sell it.
matter……
“Bought it!”
Since the other party is selling it in a package for US$95 million, and it will take a few years to run it, at least it will not lose money.
Moreover, Chen Mo also needed a piece of land that was larger and more private. He immediately contacted the real estate agency and called Cohen: "Hi, old friend, what are you doing?"
"Work, what else can you be busy with? Do you have anything to do with me?"
"I'm in Napa... planning to buy a winery or a manor, and I want to ask you for a loan."
"Okay, no problem. How much is the loan?"
"One hundred million."
Cohen was silent for a moment and said: "With your credit rating, we can get an unsecured loan of 50 million U.S. dollars in our bank. For more, I have to ask the headquarters... If there is a mortgage, that's easy. I can use it as quickly as possible."
I will lend you a loan."
"How about using the upcoming manor and winery as mortgage?"
"No problem. Are you anxious?"
"Of course, I'm very anxious, come here quickly."
"Where are you?"
"Napa..."
"Okay, I'll be right over. Do you need a free lawyer?" Cohen said with a smile.
"You have to act quickly. It's best to sign the contract today."
"Hahaha... It seems that you have found a good project. I will bring someone over right away."
This is a banker, easy to do things.
If Cohen hadn't been the manager of the Bay Area head office, it wouldn't be difficult for Chen Mo to get a loan of 100 million, but it wouldn't be so convenient. It would be normal for it to take a week.
Cohen and his party arrived in Napa County in less than two hours. After meeting, the two hugged each other, then followed Cohen into Chen Mo's pickup truck and asked, "Is there a large-scale project?"
"No. I have my eye on a manor, and the other party wants a price of 95 million US dollars. I have a broker here who is bargaining. The other party refuses to lower the price, but if I buy the manor, I will get a winery as a gift."
Cohen burst out laughing: "There is such a thing. In which production area is it located?"
"Deer's Leap."
"The wineries in the Stags Leap region are not cheap. How big is the area?"
"The total area is 34 acres, but the vineyard area is only 30 acres. The Stags Leap area is no different than other production areas. This place is smaller. There is no land for planting grapes yet, and planting grapes has been banned." The vineyard area system in the United States is ava.
system, which is a local protection system. Vineyards in ava production areas can enjoy a series of preferential policies, such as land tax. The land tax for vineyards is almost zero. The land tax collected will be fully refunded through agricultural subsidies.
Or partially refunded, the actual local tax collected is only the valuation of the property and building. There are also some well-known wineries, such as Deer Leap Winery, business card wineries in these areas, with the support of the AVA system, even other tax returns...
Each year, the tax paid by these top-notch well-known wineries is only about 10% of their income.
It is said that everything is heard. Chen Mo still doesn’t know whether it is true or not. But there are these rumors on the Internet...
Coles is working at a winery in the Stags Leap District. The winery has a total area of 34 acres, which is quite large. It is located on the edge of the Stags Leap District near the Atlas Mountains, on the Bozik Hills in the residential area, facing
Atlas Mountains, the scenery is beautiful.
The winery and tasting room (the combination is the winery) are opposite the residence, separated by vineyards, which is more than 700 meters.
There is another very interesting thing here.
The Coles residence is located on the Bozic hill, at the foot of the hill to the west, and across the road is the famous Yinduo winery. The distance is less than 400 meters...
Yinduo Winery and Coles Winery are only separated by a hill, but they are in the same sky and the other is underground.
Coles was at home, and Chen Mo went there under the guidance of the real estate agent. After meeting, he shook hands with Coles and introduced the people around him: "This is Mr. Cohen, from Wells Fargo Bank."
"Hello Mr. Coles."
"Hello." The two also shook hands.
Chen Mo continued: "Here are the asset appraisers from Wells Fargo Bank. They will conduct asset appraisals of wineries and manors to facilitate my loan. After all, it is very difficult to take out 95 million US dollars at once."
Coles' eyes lit up: "Does this mean you are ready to buy my manor?"
"Yes." Chen Mo smiled.
After a while, if no one else is interested, Coles may drop the price, but that's a long way to go.
Buying a manor comes with a winery. As far as Chen Mo knows, unless the owner is very wealthy, 95 million US dollars will definitely be too expensive to buy two properties. How can I put it this way? Chen Mo likes Coles Manor and needs one.
A very private place to maximize the value of space cards...