EXCLUSIVE: The staggering first releases from Hundred Hills : undoubtedly 'one to keep an eye on'
Thank you to those who responded with their guesses last Friday. Just for fun, we released an image of a vineyard asking where its location might be. We had some very good guesses as well as a few that were a lot more extreme!
It was in fact a shot of the beautiful Hundred Hills estate in the Stonor Valley in south-east Oxfordshire, which was founded in 2013. I have tracked this project since its infancy and have been fascinated by the journey as much as the meticulous planning that has gone into establishing the vineyard and the winery. I have known Stephen and Fiona Duckett from way back, long before the idea of founding an English sparkling wine estate had gripped them. Stephen has always been a methodical person; but that isn’t at the cost of foresight. When he told me that they had explored well over 100 different sites located in dry chalk valleys across southern England before settling on a run down 50-acre farm in the Stonor Valley, I wasn’t surprised. A clear point of differentiation is that Hundred Hills is a wine estate by design; the Ducketts explored possible locations across the UK, sending soil cores off to be analysed in a laboratory in Champagne and assessing climatic data before committing. If the data and analyses had led them to the other side of the country, that’s where they would have been located – they had the intention from the outset of producing a great sparkling wine, not just another English sparkling wine.
So why the Stonor Valley? Firstly, the chalk here is particularly thick ensuring that the vines would need to work hard to establish themselves and therefore direct their energies into fruit production rather than vine growth. Secondly the nature of the valley is such that it allows cold air to flow down the slopes and away from the vines, which mitigates the frost risk posed in English vineyards. Thirdly, the site is surrounded by dense woodland, which serves to trap warmer air to the benefit of the vines and fruit ripening in a marginal climate. Fourthly (not sure I have ever typed ‘fourthly’ before!) the woodland and steep-sided valley protect the vines from the predominantly south-westerly winds of the British Isles. And fifthly (I have never typed ‘fifthly’ before) the orientation of the vineyard means that at harvest time, which can be mid-October in England, the vines benefit from the early morning sunshine, which reduces the dew and assists the health of the fruit. I think from these few comments you will understand that there is something unique about this site. The French use the word ‘terroir’ to encompass all influences on a specific vineyard site; a very good terroir being a site that has numerous natural benefits. Hundred Hills is a very good terroir.
I remember explaining the outline of Stephen’s project to a grower in Champagne – he was fascinated and asked about the size of the estate, I told him it is just over 20 hectares (a hectare being roughly 2.47 acres) and he turned rather pale. He himself had just under nine hectares in an outlying Champagne district and none was classified Grand Cru! The idea of establishing a sizeable vineyard on a relatively blank canvas offers huge benefits – that is what this grower easily grasped. Hundred Hills is planted with 67,000 Chardonnay and Pinot Noir vines, all sourced from a nursery in Champagne. They are located in ten individual plots on both slopes of the valley, either side of the winery. The clones (a topic we have discussed in various emails this year) have been very carefully chosen in relation to the soil and aspect of each plot, the fruit from each of which retains its own unique identity until final blending. There will be no specific approach to the wines produced each year, sensible in a vineyard that is establishing itself. Different parcels may come to the fore over time and demonstrate specific qualities – the range of wines produced will be dictated by the vineyard. Interestingly, there will be no Non-Vintage wines made at Hundred Hills – Stephen prefers to see the character of each year represented in the wine and judging by his first releases, detailed below, that is a smart decision. It is also worth stressing that Stephen is only retaining the very best fruit from the estate; the rest is being sold off to different houses who assemble blends supplemented by purchased fruit.
It is one thing to have the foresight and to conduct such painstaking analyses, to be intent on getting things right, but it is another to recognise that you need great advice on hand if you are setting your sights high. Stephen credits the late Dr Michel Salgues as having been a major influence on Hundred Hills. Dr Salgues was born and raised in Champagne and was a hugely respected agronomist and oenologist, having worked for Louis Roederer for over 19 years. Dr Salgues is regarded as having been‘instrumental in the pioneering ambitions of Roederer Estate’, Roederer’s Californian project in the Anderson Valley. It is little wonder that when news broke that he was consulting Hundred Hills, Champagne critic Tom Stevenson tweeted‘one to keep an eye on, especially with Michel Salgues consulting!’.
Critics are yet to taste, but before the second lockdown, Richard and I made a timely visit to the estate to taste the first five releases. At this juncture I should make a couple of points clear; I consider myself something of a champagne nut – I get a buzz from grower Champagnes from specific vineyards over and above wider scale blends. You might think I would be predisposed to Stephen’s project, but while I have always appreciated the potential of English vineyards to produce world-class sparkling wines to rival Champagne, I felt that potential would be realised considerably further down the track. I have tasted a good number of English sparkling wines, and without the patriotic blinkers, I have never seen fit to recommend them to our clients. Managing the acidity that is inherent in English wines on account of our marginal climate is tricky – all too many English sparkling wines possess a nervy, bracing acidity, a leanness to the fruit and characters that are all rasping apple and little beyond. I hoped for something different from Hundred Hills, or it might have made for a very awkward visit given my personal connection! I am glad to say that even my highest expectations were surpassed – if we had stopped tasting at wine number 2 in our line up, we would have proclaimed it an amazing success. By the end of the tasting I was simply blown away. If I harboured a little bit of envy when I saw the estate established, the Larkin envy dial sits somewhat higher after the tasting. We have since tasted once more with the whole team at Atlas, managing to sneak in a tasting just before lockdown.
Before you read my tasting notes on the two wines we are offering today, I thought I should make a few comments on the style of the wines. I was surprised to encounter riper fruit characters than I have before in English wines - this is due to the long ripening season permitted by the site. It has delivered all sorts of nuances of stone fruit – nectarine, yellow plum, apricot all appeared in my notes. The wines are impressively pure and persistent – again this is surely influenced by the health and ripeness of the fruit and the fact that Hundred Hills employs the very best of the fruit from their vineyards. The style is luxuriant, and this is created by the mousse – soft, layered and expansive, this aids the sense of roundness that the wines possess. I said at the outset that Hundred Hills is a winery by design. The same forethought has gone into the winemaking, with Stephen and the team thinking very carefully about the tools and techniques that could be employed to ensure his wines have a mid-palate texture and breadth atypical of the wines of these Isles. The use of oak, the use of bâtonnage and a slow secondary fermentation have all contributed in creating wines with a sense of roundness and luxuriance, while the avoidance of malolactic fermentation allows a dynamic freshness to counterbalance the textural richness. The very best fruit coming from an impressive vineyard sensitively handled is a great recipe for success, and that is why these wines stand out. They are extraordinary.
This is the first of two offers and will focus on two specific wines that have the potential to age for up to a decade – remarkable given that 2016 was Hundred Hills’ first vintage. That said, I don’t want you to blithely accept my recommendation and tuck a three-bottle case in your reserves; I would urge you to take delivery of a case and taste for yourselves and validate my views – you should also tuck a second into reserves for further maturation. It is fascinating to taste wines from a location in their first vintages without any specific sphere of reference. A completely unique experience.
2016 ‘First Edition’, Hundred Hills £150 per 3 bottle case in bond
The aptly named ‘First Edition’ was the only wine made at the estate in 2016. It is an equal blend of Chardonnay and Pinot Noir. Only the best bunches were selected, with a harvest date of 20thOctober – a very long season, ideal for maturity. The Chardonnay component comes from a single plot at the top of the west-facing slope opposite the winery. The Pinot Noir largely comes from an easterly-oriented slope just to the north-west of the winery. The base wines were aged in oak and bâtonnage (stirring of the fine lees) was employed once per week for two months. It was aged on its lees in bottle for 48 months and disgorged in May 2020.
Deeper in hue than the Blanc de Blancs, immediately signalling the Pinot Noir component, the aromas of bruised apple are supported by riper nuances; juicy nectarine and subtle almond pâtisserie notes. A really harmonious style, where the Pinot Noir certainly lends weight and backbone, as well as hints of sappy red fruit. There is no denying those nectarine/apricot nuances that seem particular to the estate, and they broaden the palate with a discreetly creamy intensity. There is an impressive sense of proportion to the 2016 and yet it is still holding something in check. Long, focused, taut with chalky nuances coming to the fore – this is more classical in style than you might expect. A hugely impressive first vintage, and while I enjoy tasting it now, and it can be enjoyed now, I can’t wait to see how it will evolve in bottle as I believe it will age incredibly well. You can see why the first disgorgement has been limited, allowing a proportion to continue to age on its lees. This is refined, pure and mineral – what a stellar wine this is. 2021-2030+ (SL)
2017 Blanc de Blancs, Hundred Hills £150 per 3 bottle case in bond
Taken exclusively from the same parcel of Chardonnay employed in the 2016 First Edition. The base wine spent two to three months in cask with bâtonnage as above. Aged on its lees in bottle for 30 months and disgorged in March 2020.
Pale green gold in the glass with a fine bead of bubbles, the aromas suggest white flowers, with hints of ripe stone fruit; nectarine, apricot and a discreet creamy, pâtisserie note. The fruit on the palate is so pure, crystalline if you like – there is a taut, energetic feel to the palate, but it is offset by more notably ripe fruit characters than you expect, with juicy, intense notes of tangy yellow plum, greengage, nectarine and just a gentle rasp of Cox’s apple, all the while underscored by a chalky, mineral nuance. Creamy, freshly-baked pâtisserie notes lend complexity to this strikingly pure Blanc de Blancs. I noted that it simply refuses to fade, showing an uncommon persistence of flavour that would put many wines in the wider category to shame. Such a fine example, showing the benefits of an extended season – riper fruit notes backed by scintillating, but not obtrusive acidity. A truly remarkable first release. Drink 2021-2028. (SL)
I think you will be as fascinated as me by these two releases from Hundred Hills and I feel certain that this is a name that you will hear more about over the coming years. These first releases are staggering – I can’t put it any other way.
Please let us know of your interest and do heed my comment above regarding broaching a bottle in the coming months and storing a further case. I will be interested to see what you think.
The Return of Proof over Promise: Why Maturity Matters in a Stabilising Market
The Return of Proof over Promise:Why Maturity Matters in a Stabilising Market
For almost three years, the fine wine market has been working through one of the most prolonged corrections in its modern history. Prices have fallen sharply across most regions, trading volumes remain subdued, and sentiment among collectors and merchants alike has often appeared fragile. Yet beneath the surface, something important has changed.The dramatic falls that characterised 2023 and much of 2024 have largely subsided. While trading activity remains below historical norms, many of the major fine wine indices have now edged back into positive territory. The Liv-ex Fine Wine 100, Fine Wine 1000 and Fine Wine 50 indices have all recorded modest gains over the past year, suggesting that the market is no longer searching for a floor but is instead beginning to stabilise. The Liv-ex Fine Wine 100, the industry's leading benchmark, is currently up 4.4% year-on-year, while the broader Fine Wine 1000 Index has gained just over 2%. As reassuring as this may be, I am sure you will agree that this is not the definition of a bull market, but nor does it suggest a continuation of the turbulence that has defined the last three years. Put simply, this appears to be a market bouncing along the bottom. That distinction matters.
There remains a substantial amount of unsold inventory throughout the trade, particularly among more recent vintages and younger wines. Across Bordeaux and Burgundy, merchants, négociants and investors continue to hold stock acquired at prices that no longer reflect current market realities. In many instances, the reluctance to realise a loss, or for businesses to formally write down inventory values, has meant that considerable volumes of stock remain available only at prices that buyers are unwilling to accept. The challenge is not necessarily one of supply, but of valuation. Significant inventories remain available, yet much of that stock is still being offered at prices established under vastly different market conditions. Until those prices adjust, liquidity is likely to remain constrained. Volumes traded today remain well below those seen before the correction despite improving price stability. That said, the market is adapting and the clearest example is Bordeaux. The 2022 campaign, released into a market that was already beginning to weaken, was widely criticised, after the fact, for excessive pricing. Large quantities remain unsold. However, over the past twelve months, a growing number of wines from both the 2022 and 2021 vintages have appeared at significant discounts to their original release prices. The significance is not that these wines have become cheap; rather, they have become fair. Recent commentary points to Bordeaux prices having effectively returned to levels last seen around 2016-2018, erasing much of the extraordinary inflation generated during the post-pandemic surge. It seems the disconnect between release pricing and secondary market value is gradually being eliminated. For collectors, that matters.
For much of the last two decades, the market has often appeared to value potential more highly than proof. The expansion of en primeur, the growing influence of 100-point scoring, and the increasing consideration of the financial aspects of fine wine encouraged buyers to focus more on what a wine might become rather than what it had already demonstrated. In many cases, mature wines with decades of proven performance traded at surprisingly modest premiums to young vintages carrying little more than barrel scores, expectation, and marketing momentum. The origins of this shift arguably extend beyond the expansion of en primeur itself. The removal of wine duties in Hong Kong in 2008 opened the door to a powerful new source of demand and accelerated the globalisation of the fine wine market. As Chinese buyers entered the market in increasing numbers, demand naturally gravitated towards a relatively small group of internationally recognised names and labels. Brands became increasingly important. Critic scores became increasingly important. Simplicity often trumped nuance. This was entirely understandable. Purchasing decisions frequently centred on the clearest available signals: the reputation of the château, the strength of the brand and, increasingly, the score attached to a wine. The consequences were significant. Mature wines, whose virtues are often more nuanced and revealed only in time, gradually ceded attention to younger wines accompanied by exceptional scores, compelling narratives, and apparently limitless potential. In many respects, the market increasingly came to reward visibility over maturity and promise over proof.
Bordeaux adapted remarkably well to these changing market dynamics. Historically, wine had always been understood as an agricultural product, one in which variation from vintage to vintage was not merely accepted but celebrated. Yet as global demand expanded, many of the leading châteaux increasingly began to present themselves through the language of luxury brands. Consistency, exclusivity, and prestige became central themes. In some respects, the market became less focused on what a particular wine was in a particular vintage and more focused on what the name on the label represented. There is nothing inherently wrong with that evolution. Many châteaux invested heavily in vineyard management, winemaking, and quality during this period. Nevertheless, branding, by its very nature, tends to encourage continuity and uniformity. Fine wine remains an agricultural product shaped by place, weather, season, and time. While brands can create prestige and consistency of message, they cannot remove vintage variation or guarantee future performance. The correction may therefore serve as a useful reminder that even the greatest estates must ultimately be judged by the contents of the bottle rather than the power of the brand.
For a considerable period, these forces appeared mutually reinforcing. Rising demand, rising scores, rising release prices and rising asset values, coupled with rising quality encouraged the market to focus increasingly on future potential rather than demonstrated performance. Mature wines often struggled to command the premium their track records arguably deserved. Certainty became underappreciated. The recent correction appears to be reversing that trend. For perhaps the first time in a generation, certainty is once again competing effectively with expectation. The correction has reminded the market of a simple truth: certainty has value.
Today, it is becoming clear that collectors increasingly value certainty and therefore maturity matters, drinkability matters and provenance matters. A perfectly stored case of mature Bordeaux from a recognised great vintage offers something that no recent release can provide: a track record. We know how the wine has evolved. We know whether it has delivered on its early promise. We understand its drinking trajectory. We can access numerous reviews from major critics. We have evidence rather than expectation. We understand that volumes will have dwindled through consumption. We expect a degree of price stability. In short, we have grounds for confidence. I believe that this change in buyer behaviour may prove to be one of the most significant legacies of the correction. A painful lesson for us all perhaps, but potentially a lesson learned.
This shift is becoming visible in regional trends. Champagne, arguably the greatest beneficiary of the post-pandemic boom, subsequently endured one of the sharpest reversals as speculative demand retreated. Yet it has also shown some of the strongest early signs of recovery. The pattern is becoming familiar. Buyers are gravitating towards maturity and scarcity rather than novelty.
At the same time, there are tentative indications that international demand is starting to re-emerge. Asian merchants appear increasingly willing to replenish inventories after a prolonged period of caution, while in the United States buyers are beginning to adjust to a more certain tariff environment. Markets can tolerate almost any condition provided it is understood. Uncertainty, by contrast, tends to paralyse activity. To be clear, neither region is returning with the exuberance witnessed during previous cycles, but both are starting to show signs of life. The gradual return of demand has not gone unnoticed by investors.
You have no doubt already read that earlier this month, Michael Burry, famous for anticipating the collapse of the US housing market before the Global Financial Crisis, highlighted fine wine as an attractive tangible asset. Much of the subsequent commentary understandably focused on the headline-grabbing involvement of one of the world's most closely followed investors. More interesting, however, is what attracted his attention in the first place. Burry's argument was not centred on recent price appreciation or critic scores. Rather, he focused on the structural characteristics of the asset itself: diminishing supply, resilience to currency debasement and, notably, wine stored in UK bonded warehouses. Every bottle consumed permanently reduces global supply. Unlike many alternative assets, inventories of mature wine can only shrink. Perhaps equally revealing was his repeated emphasis on UK bonded storage. Despite Brexit and the increasingly global nature of the wine trade, the United Kingdom remains the world's leading trading and storage hub for investment-grade wine. London continues to serve as the principal marketplace through which much of the world's fine wine changes hands. When one of the world's most celebrated value investors turns his attention to fine wine, it is telling that his focus remains on bonded stock held in the UK, and while his focus may reflect US Dollar currency concerns, it still underlines London’s importance as a hub. The significance lies less in the endorsement itself and more in what it reveals about the maturity, transparency and global importance of the market infrastructure that has developed here over many decades. Whether or not one agrees with Burry's broader macroeconomic outlook is largely irrelevant. What matters is that value investors tend to emerge when markets are depressed rather than fashionable. The timing is revealing.
Yet scarcity alone may not be the only factor supporting mature wines in the years ahead. There is another development that may increasingly influence collector behaviour over the coming decade. The wines being produced today are not necessarily the wines that were produced twenty or thirty years ago. Climate change is no longer a future concern. It is already reshaping European viticulture, but what does it foretell? This year's Champagne harvest provides a striking illustration. Growers noted that harvests once associated with late September are now occurring weeks earlier, driven by higher temperatures and accelerated ripening. Producers have increasingly discussed the challenge of preserving the freshness and acidity that have historically defined the region and contributed to its remarkable longevity. Recent regulatory changes further underline that shift. Following exceptionally hot conditions and elevated sugar levels, Champagne authorities temporarily raised the permitted alcohol limit from the traditional 13% to 15% for the 2026 harvest. While relatively few wines are expected to approach that level, the decision reflects a profound change in growing conditions and, potentially, in resultant wine styles. The long-term implications remain uncertain.
For much of the twentieth century, Europe's greatest wine regions relentlessly sought greater physiological ripeness. As temperatures have risen, achieving ripeness has become far easier. Preserving freshness has become the greater challenge. Many of the greatest wines of the twentieth century were built around moderate alcohol, elevated acidity, and slow evolution. Modern vintages are frequently riper, richer, and structurally different. Will they age as successfully? Will their drinking windows prove as long? Will they evolve in the same manner? Notably, some critics have started to shorten their predicted drinking windows considerably. No one yet knows what the ramifications of climate change on longevity are – the answer will be revealed in time. What we do know is that mature wines from proven vintages have become increasingly valuable not solely because they are scarce, but because they provide certainty at a time when the future evolution of many modern wines remains untested. The implications for investors may be significant.
During much of the last two decades, broad market appreciation often did much of the heavy lifting. Strong demand, abundant liquidity, and a willingness to pay ever-higher prices for increasingly highly scored young wines created an environment in which owning the right region or category was sometimes more important than selecting the right wine. That may no longer be the case. The correction has reminded investors that fine wine is not an homogeneous asset class. Some wines that became market favourites during the recent boom may ultimately justify their valuations. Others may not. As speculative demand recedes, the distinction between exceptional wines, great wines and merely fashionable wines may once again become more apparent. The key takeaway is that the recovery is unlikely to be uniform.
For collectors and investors who have remained largely inactive over the last three years, waiting for previous holdings to recover, this may be an important observation. The question is no longer whether the market as a whole will recover. The more relevant question may be which wines are most likely to participate in that recovery. Selection appears increasingly important. Not every wine will benefit equally from the return of the maturity premium. Wines with established reputations for longevity, proven secondary market demand and genuine scarcity may increasingly distinguish themselves from those whose appeal rests primarily on recent scores or marketing momentum. In many respects, the market is becoming more discriminating.
If longevity lies at the heart of fine wine's investment appeal, then perhaps the focus should increasingly shift to wines whose ability to age has already been demonstrated rather than merely predicted. Historically, much of the market's attention has been directed towards identifying the next great wine. Today, there is a strong argument that equal attention should be paid to wines whose greatness has already been established. It may not be the most exciting approach, but in a market increasingly focused on certainty, it may prove the more rewarding one. For perhaps the first time in a generation, mature wine offers not only scarcity and drinkability, but also a degree of certainty in the face of evolving styles on account of climate change. These wines were produced under growing conditions that essentially no longer exist. Their evolution has been observed, documented, and understood. They increasingly represent fixed points of reference against which future generations of wine may be judged.
The correction may ultimately be remembered for more than simply restoring value. It may also have refocused attention on the qualities that have always underpinned fine wine's enduring appeal: balance, drinkability, and the complexity that comes with age, as well as longevity, provenance, and scarcity. As climate change continues to reshape the world's great wine regions, these factors may become more important than ever. For collectors, this may be one of the most compelling aspects of the current market. Prices have corrected substantially. Much of the speculation has disappeared. Many mature wines are available at levels that compare favourably with current releases. The market remains cautious; liquidity remains below normal and substantial inventories still need to find a home. Yet those very conditions are creating opportunities that have been largely absent for much of the last decade.
No one can say with certainty that prices will not fall further. However, after three immensely difficult years, the market increasingly appears to be doing what healthy markets eventually do: rewarding quality, maturity, scarcity, and value. Investors and collectors have traditionally focused on identifying the next great wine. The more important challenge over the coming decades may not be identifying the next great wine at all. It may be recognising the value of wines whose greatness has already been proven.
The return of proof over promise does not mean abandoning younger wines. It simply means applying a higher standard of scrutiny to what we choose to own.
Simon Larkin MW
'A wine for spring and summer drinking.' JM: 2022 Hautes Cotes de Nuits, Domaine Lecheneaut
'A wine for spring and summer drinking.' JM2022 Bourgogne Hautes-Côtes de Nuits, Domaine LécheneautExtremely good for its level and equally highly recommended.Allen Meadows, burghound.com, January 2024Domaine Lécheneaut, Bourgogne Hautes-Côtes de Nuits 2022£135 per 6 bottle case in bond(£183.50 per 6 bottle case inclusive of duty and VAT)
“A wine for spring and summer drinking.”As Jasper Morris has additionally commented in relation to the vintage: I believe that 2022 does deserve the epithet classic, albeit Modern Classic. The wines smell of pinot and taste of pinot with a mix between the classic red fruits of raspberry, strawberry and cherry. So, fresh ripe fruit and a balanced structure. Nothing overripe or overblown. Good acidity, moderate alcohol.The Lécheneaut wines are always so natural and at ease with themselves; they are all about meticulously cared for fruit that is handled with great sensitivity. Purity and sense of place are very much to the fore. The Hautes-Côtes de Nuits comes from vines in Chevrey, at 350 metres altitude, high up in the middle of the Hautes Côtes above Premeaux-Prissey, which helps maintain the freshness that makes this wine so appealing.But let’s also not overthink it. The Bourgogne Hautes-Côtes de Nuits 2022 is quite simply all about fresh fruit, subtle mineral balance and great drinkability. Ever attuned to the zeitgeist here at Atlas… this is even chillable – for the summer drinking Jasper Morris mentions.Buy. Take delivery. Enjoy.That’s it.
Domaine Lécheneaut, Bourgogne Hautes Côtes de Nuits 2022£135 per 6 bottle case in bond£183.50 per 6 bottle case inclusive of duty and VAT
Perfumed floral red fruit on the nose. The palate displays lovely balance and freshness with a wonderfully at ease flowing texture. Drink 2026-2032 (ROM)
“Top value”, Allen Meadows, burghound.com, January 2024A slightly riper nose features a spicy mix of both red and dark currant with more floral elements. The medium-bodied flavors are not quite as dense as those of the Clos Prieur but they're finer and with more evident minerality to be found on the youthfully austere and sneaky long finale. This is also extremely good for its level and equally highly recommended. Drink 2026+
Jasper Morris MW, insideburgundy.com, November 2023Low pruned vines in the hamlet of Chevrey, marly topsoil straight on the mother rock. Aged in 450 litre barrels. A little fresher red fruit, a little less density too, raspberry and redcurrant, attractive, with good acidity. A wine for spring and summer drinking. Drink from 2025-2028
Top tips and conclusions from the Atlas Big Barolo Bash
After our Big Barolo Bash held at Salisbury House, EC2M, on Wednesday 4th December 2024, I thought I would share a few thoughts as it is not often that you get the chance to compare 42 different Barolo spanning vintage 2011 to 2019.The wines shown were grouped by vintage rather than by grower. The aim was to encourage an understanding of vintage characteristics. We also felt this would spare clients the significant challenge of moving from a softer, lighter vintage to a richer, more tannic one and then back again in a repeated cycle through all producers. Deciding on a tasting order is never easy, even more so with a variety like Nebbiolo, known for its bright acidity and structural tannins. Our buyer, Seb Agnello, manned the 2018 and 2019 table. These two vintages show distinctly different styles. 2018 was a more mixed vintage, still with some notable successes. It is a lighter expression of the Nebbiolo variety, but by no means a poor vintage. It has always been our view that it was a misunderstood vintage; wines from this year have shown appreciably better after a little time in bottle, having been difficult to read when very young. From the wines shown, the Barolo Prapo from Ettore Germano impressed clients with its cherry red fruit – for a Barolo from Serralunga d’Alba, a commune known for richness and power, this is an incredibly pretty example, vintage in, vintage out. Chiara Boschis’ blended Barolo, Via Nuova, drawn from various crus from the across the region, received plenty of praise from clients, too. Perhaps the wine that impressed most from this selection was Vietti’s Cerequio 2018, which showed blue fruit touches, a fine freshness and those slightly rounder tannins that are common to La Morra. The 2019s were a last-minute addition and were the two single vineyard wines of Andrea Bosco which offered an opportunity to compare a Barolo from the lighter soils of Verduno with a richer wine from La Morra; respectively, the wonderfully refined Agostino Bosco, Barolo, Neirane and the darker, brooding Agostino Bosco, Barolo, La Serra. Clients seemed interested in how these two most recent vintages would shape up in time. While the 2019s are the product of hot year, these showed how that vintage manages to show a certain classicism. They will warrant 8 to 10 years in bottle before showing in their prime. In contrast, the 2018s, with their lighter accent, are already starting to show well, even if some of the leading examples will still demand 4- or 5-years patience before really starting to sing. The 2017 table was, for me personally, one of the most fascinating. Not only were some of the region’s most notable growers featured in this line up, but it showcased a vintage that I fear has been a little overlooked. 2017 was a hot and dry vintage and in an earlier era I don’t believe the wines would have come through as well as they have. Growers have had to adapt to modern day conditions in Barolo; whatever way you cut it, this is down to climate change. As I remarked to various clients, in the 1990s there were perhaps three notable vintages which delivered ripe fruit and fine structure, other vintages in which many growers lost precision and freshness in their wines but a greater number of years in which it proved tough to ripen Nebbiolo fully. Leaf-plucking became routine to expose the fruit to the sun and allow aeration. Rolling the clock forward, between 2010 and 2020 we have not had a bad vintage. There have been challenging conditions, but we have had four great vintages - 2010, 2013, 2016 and 2019. Then there have been some more mixed years, but ones in which good growers have nevertheless excelled. Today it is more about providing some protection to the fruit, as opposed to exposing it. This is quite an incredible switch around to have occurred in just 20 years. Growers have needed to learn fast – to learn how to prepare their vineyards for the modern-day challenges of heat and drought, when not so very long ago, the challenge was inclement weather. 2017 is a successful hot vintage, particularly given there were four months in the growing season without any rain. The cooler weather at harvest really assisted in providing freshness to the aromatics and brightness to the fruit; this was notably evident in the selection of 2017s at the tasting. The two wines from Brovia were just beautiful; both the Brea ‘Vigna Ca Mia’ and the Villero were way ahead of the quality that a reading of the vintage reports might suggest possible. Instead we found pure fruit, refined tannins, glossy textures and a complex amalgam of fruit nuances and tertiary notes. Equally compelling were the duo from Poderi Oddero. In the amazingly graceful Vigna Rionda, from one of the region’s finest terroir, Oddero has crafted a genuine beauty in 2017 and I would suggest it isn’t far removed from the quality they delivered in the tremendous 2016 vintage; this should be a wine on your watch list if you a fan of the finest Barolo. The Bussia Vigna Mondoca showed in a similarly impressive manner; Bussia, in Monforte d’Alba, is a controversially large cru but when you taste wines of this calibre, there is no doubting that it has the potential to rank highly, depending on the exact location of the vines within the . Very rich, with a deep damson, plum quality to the fruit and hints of spice, this rich Barolo will demand patience, even in a year like 2017 where some wines are starting to drink. In this latter category, we would place Vietti’s reliable Castiglione blend and, surprisingly, Vajra’s 2017 Ravera, which seems to show very little of the austerity that is more typical of this cool, elevated Novello cru. The 2016 table certainly drew considerable attention, as clients were aware that this vintage is considered to be one of the all-time greats. The 2016 vintage represented the perfect growing season with no excesses or problematic weather. These wines have such appealing fruit and fine tannin that a number show that they are already approachable though even the humblest from this vintage have ageing potential. The table was manned by Atlas’ Nick Pitcher, who commented that clients were impressed by the 2016 Barolo del Comune di La Morra from Renato Corino on account of its expansive, rounded fruit. Renato has always made rich, softly textured wines and his entry level Barolo, principally made from young vines in Rocche del’ Annunziata, has always been considered by Atlas to be something of a bargain; the 2016 is no exception in this respect. Brovia’s Barolo 2016, from across their holdings, also impressed, making for an impressive showing on the night for this traditional producer when you consider how well their 2017s showed. The Brovia and Corino 2016s offer great value, a point borne out by client purchases! Parusso’s lesser known Mariondino from Castiglione Falleto also won favour with its intense fruit, with the touch of oak adding tobacco and vanillin notes, one of the few wines in the room to be aged in that manner. Nick also showed the component wines of Arnaldo Rivera’s Collector’s Case, as Nick said what a vintage for the cooperative of Terre del Barolo to launch a premium mixed case. Clients were fascinated to taste six different crus, each from one of six of the different communes of Barolo, all from the same producer, and from the same vintage. As one client commented ‘A great dinner party experience to be had tasting single cru Barolo at a bargain price!’. It is hard to argue with that. While the Arnaldo Rivera wines aren’t in the Premier League of Barolo, they are well made, approachable and provide a good introduction to understanding the single cru vineyards and the communes that make up the patchwork that is Barolo. Unsurprisingly, the lighter tannins and juicy red from on the Monvigliero impressed various tasters as did the richer, Vigna Rionda. The inclusion of the 2016 Neirane from Agostino Bosco sparked interest too, with many clients returning to the 2019 to refresh the comparison; the 2016 is just starting to drink as this vineyard possesses lighter soils with an element of sand, whereas the 2019 will need more patience. Then finally, we had a mixed table spanning the vintages from 2015 back to 2011, manned by Atlas’ Toby Herbertson. This table was a real draw as it allowed clients some insight into how Barolo ages; this was very much needed as some clients weren’t particularly familiar with the region. Some clients started tasting here, which might not have made it easier to move onto younger wines thereafter. The ability to compare wines from the same growers in 2011 and 2012 fascinated people and both vintages impressed. 2011 is one of those vintages that is starting to drink really well – it was a hot vintage, by the standards of that point in time, but it was wonderful to see how, if anything, the wines seem to have picked up a little more precision as they have aged. Both the Sandrone Cannubi Boschis 2011 and the Vietti Ravera 2011 found favour. The 2012 Sandrone, Le Vigne, shows just how well Sandrone adapt to vintage conditions. The 2013 Cappellano Pie Rupestris was very popular on the night; clients were impressed by the complexity and quality, though some struggled to spot the value in contrast to other wines shown. The conversation surrounding this table focused on when Barolo tannins start to soften and when wines come on stream for drinking. The lighter framed 2014s were up against it, sandwiched as they were between the more tannic 2013s and the bolder, richer 2015s. That said, many clients commented on the attractive nature of Vajra’s 2014 Ravera, which, like the 2017 of the same wine, showed in a forward drinking manner with a dark, glossy fruit, floral aromas and hints of spice. Indeed, all Vajra’s wines were complimented for their accessibility and the purity of the fruit. Finally, the two 2015s proved fascinating to taste. Giovanni Rosso’s Cerretta shows just why there is excitement brewing about this estate. It captured a flinty mineral note that added complexity to a rich palate of dark, slightly brooding fruit, while the tannins were finely expressed and far less obtrusive as they can be in young wines from this Serralunga d’Alba-based cru. Vietti’s inaugural Riserva also attracted plenty of attention; the extra ageing having softened and rounded out the tannins.All in all, the evening was a great success and we have received many positive comments on the venue and the format. We will certainly be running another event at this venue in the New Year.My final thoughts concern the way in which things have evolved in Piemonte. Climate change has meant that Barolo vintages face few of the pitfalls they once did. Instead, there are different challenges, more often than not related to heat and drought. In rapid time, growers have adapted in both the vineyard and cellar to meet these challenges, and today, I would argue, Barolo is one of the most consistent wine regions in Europe. There is just so much to explore, different crus with different altitudes, exposures and soils, as well as producers who employ different techniques. Without doubt, Nebbiolo is a sensitive grape variety that reveals different nuances in different conditions; it rivals Pinot Noir in this respect. Putting on a tasting like this allowed us to share our fascination with the wines and the region. Frankly there has never been a better time to buy Barolo – perhaps you could argue it is the last bastion of great value for finely nuanced reds In Europe. Certainly, £300 per case doesn’t get you far in Burgundy or Bordeaux, but it can get you an impeccably crafted, single vineyard Barolo. That point came across loud and clear to our audience on Wednesday night.
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