I bought a crumbling house and turned it into a £3.4million fortune after getting bored during retirement
Date: 2024-10-21A MAN who bought a crumbling house has transformed the ruin into a retirement fortune worth millions.
Richard Morris and his wife, Joy, got their hands on the Newton Court Farm in Monmouth after finding retirement too boring and struck gold with their decision.
The 72-year-old told WalesOnline how he built Ancre Hill estate piece-by-piece with the winery now consisting of three vineyards totalling 22 acres.
Richard has now made the decision to put the site, which produces around 30,000 bottles a year, up for sale for a whopping £3.4 million.
Originally looking to retire in his 40s, Richard sold his transport and logistics company to travel with his wife and visit as many vineyards as they possible could.
However, the retiree “soon got bored” and “felt it was too early to call it a day” and so bought a seven-bed house surrounded by vacant fields.
He even returned to school, achieving a diploma in viticulture from Plumpton College, Brighton, to learn about the technical processes of vineyards.
Richard said: “It’s been fantastic. Instead of being stuck behind a desk all day or sitting in a car all day, I’m out in the fresh air in the vineyard or I’m in the winery but I can’t go on forever.”
Being one of the most sustainable wineries in the world, the structure was originally made from straw and rendered lime mortar.
The first vines were planted back in 2006 and since then Richard and his wife have developed the site to what it is now.
Describing the original farm house as “basically falling down” the money the couple have spent to renovate has clearly paid off in the long run.
Their venture in producing wine has developed beyond a retirement hobby with the pair establishing sales in Michelin star restaurants and others across the globe.
Richard even found a South African winemaker, Jean Du Plessis, to oversee the incredible feat ensuring the smooth-running of the wine produce.
Despite the challenging weather that the UK climate can bring, Richard continued to explain how much he enjoys the process.
Beyond the environment, Richard has other factors that are out of his control including the steep levy which UK wine is subject to.
From February 1, the number of tax bands for wine is expected to increase from one to 30 and Richard claims that supermarkets have been frustrated with the move to hike up taxes on the products.
Despite the few negatives, he still works three days a week across the different vineyards which have pinot noir, chardonnay, albarino and other hybrid varieties planted.
With the wine being particularly popular amongst young people, the business has been exported to Canada, Singapore and Hong Kong.
They now hope to find further buyers elsewhere, including Scandinavia.
