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The Ultimate Guide to Investing in the UK’s Sovereign Wine Fund

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Fresh off winning a Freedom of Information request, FT Alphaville is diving into the contents of the UK Government Hospitality Wine Cellar (GHWC). This cellar, which has operated for over a century in Lancaster House, is supposed to be self-funded through wine sales.

The GHWC is overseen by the Government Wine Committee (GWC), composed of a former diplomat and several Masters of Wine (MWs). Our journey started when we queried the FCDO for details on the stock, but initial attempts were met with redactions and rejections. Eventually, thanks to the Information Commissioner’s Office (ICO), we gained access to not only the wine quantities but also the GWC’s terms of reference.

What did we uncover? As of the most recent count, the GHWC houses approximately 32,259 bottles of wine and spirits. Among these, the most frequently stocked is Chapel Down Bacchus, an English white wine favored for events. In terms of value, the highest auction-priced wine is Château Latour Grand Vin 1961, with 107 bottles valued at around £3,500 each.

Moreover, the cellar’s total estimated value sits at approximately £3.8 million, though this figure may be optimistic. While we’ve arrived at various calculations based on community and auction prices, certain bottles remain elusive in terms of pricing. Notably, around 15,356 of the bottles are considered past their prime for consumption.

This investigation highlights the importance of transparency in government holdings. Despite our findings, there remain questions about the FCDO’s continued transparency regarding the cellar’s contents. As this story unfolds, we’ll keep you updated on further developments in the realm of governmental wine collections.

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November 25, 2024 Wine
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