LONDON--(BUSINESS WIRE)--
Chapel Down Group plc
(“Chapel Down” or “the Company”)
EPIC: CDGP
Agreement to Lease
Chapel Down Group plc has today announced that it has exchanged on an
Agreement to Lease 388 acres of prime viticultural land adjoining our
existing vineyards on the North Downs. This site at Boarley and Abbey
Farm in Boxley will be vined between 2019 and 2021 resulting in a total
area under long term leases of 788 acres. Once this site is planted, the
total vined area from which we source our grapes – including owned land,
land under long term leases and contract supply – will exceed 950 acres.
The completion of the lease is subject to the Landlord obtaining vacant
possession of the land and associated agricultural buildings which is
anticipated on or around the 11 October 2018.
Frazer Thompson, Chief Executive commented:
“This is more exciting news for Chapel Down and the English sparkling
wine business. The Boxley site is close to our existing vineyard at Kits
Coty and our other recently vined sites at Court Lodge Farm and Street
Farm on the North Downs. We believe this area of the North Downs offers
the finest terroir in England for sparkling varieties and successive
excellent crops and critical acclaim for wines from our Kits Coty
vineyard prove it. This will be the largest vineyard in England with the
potential to produce up to a million bottles of sparkling wine per annum
when mature.
“The sites will be planted over the coming years to enable us to grow
our business to satisfy the increasing demand for Chapel Down wines over
the next 25 years.”
Contact
Chapel Down Group plc
Frazer Thompson
Richard Woodhouse
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Chief Executive
Finance Director
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01580 763 033
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finnCap Ltd
Geoff Nash/Simon Hicks
Tim Redfern
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Corporate Finance
ECM
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020 7220 0500
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Chapel Down Group plc
Source: Chapel Down Group plc