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LONDON (Alliance News) - Gusbourne PLC on Tuesday said it entered into a new long-term farm business tenancy in West Sussex, England.
The new agreement covers an additional 73 acres of land adjacent to the wine producer's existing vineyards.
The company intends to plant additional vines on 57 acres of this land in 2020, which are expected to start producing grapes in 2022.
The lease has a term of 50 years and will increase the Gusbourne's vineyards in West Sussex to 136 acres.
Gusbourne shares were untraded at 62.10 pence each on Tuesday afternoon.