A Chinese industrialist has purchased 20ha of Chateau Bellefont-Belcier wine estate located in the St Emilion region of Bordeaux, France.

Chateau Bellefont-Belcier has around 13ha of vines on a total estate of 20ha, which are planted with 70% Merlot, 10% Cabernets Sauvignon and 20% Cabernets Franc.

Though, the final price was not disclosed, it was reported that the sale price was in between €1.5-2m per hectare of vines.

The final price for the sale was not confirmed until September 2012, when Saint Emilion wines were reclassified and given a Grand Cru Classe status.

The spokesman of Franck Logorce Conseil, the agency that negotiated the deal, said the classification was the major part of the deal without which the price would have been different.

SAFER, a government agency that oversees rural land development, regional director Herve Olivier said another 10 estates will be sold to Chinese buyers by the end of 2012 if bureaucratic obstacles were surpassed.

In the last two years, as many as 30 low ranked properties in Bordeaux region have been purchased by Chinese investors, but Chateau Bellefont-Belcier is the first Grand Cru Classe property to be acquired by a Chinese investor.