What are the pitfalls to watch out for?
While owning a vineyard may sound idyllic, you need to marry up the romance with reality.
The part that many investors underestimate is the fact the first few years may well be loss-making.
Mr Mendes said: “The land may feel safe, but the business can still be cash hungry. There are upfront costs, machinery, labour, pruning, spraying, bottling, storage, insurance, marketing, distribution, and the weather to think about. A bad harvest does not care what the spreadsheet said.”
In short, a vineyard can become a money pit if it is bought for the wrong reasons or without enough working capital behind it.
Mr Mendes added: “The risk is not just overpaying for the land. It is underestimating how long it takes to turn grapes into reliable profit. Location and quality matter hugely. Soil, aspect, frost risk, drainage, grape variety, access, planning consent, and the ability to sell direct to consumers can all make or break the economics.
“A pretty vineyard is not automatically a profitable vineyard.”
It’s therefore a good idea to keep plenty of money in reserve.
Make sure you’re insured
Given the inherent risks of wine production, you also need to have the right insurance to protect you.
Suzi Rackley, client director at insurance broker Howden Private Clients, said: “Vineyards which don’t generate a high-value income – and are more of a hobby on the land that comes with a house – can be easily insured by extending the home cover, providing that pickers are contracted in and the processing, bottling and sales are contracted out.”
But most vineyards will need a comprehensive commercial combined insurance, known as “grape to glass”.
Ms Rackley added: “This is a specialist policy which covers things such as liabilities, machinery and loss of income.”