Chinese billionaire snaps up premium wines at Vintage Cellars

Chinese investors have been snapping up our harbourside mansions, now they've turned their attention to other assets.

On a single buying spree at Vintage Cellars in Double Bay, which topped $300,000, the enthusiastic customer was ordering by the shelf as well as buying the entire contents of the store's premium cabinets.

Burgundy was high on the shopping list, a witness says, adding praise for staff at the store who managed to also successfully wave the flag for premium Australian wines and pinpoint specific requests for premium bottles from the birth year of the customer's partner.

The big spender is believed to be billionaire Liu Qiangdong, who has been living in Vaucluse.

The news is a little different at Ultimo Vintage Cellars (previously Ultimo Wine Cellar). A spokesman was quick to point out it had not shut its doors.

"Ultimo Vintage Cellars is a thriving online business with a large and loyal customer base, and we have no intention of closing it. The business will soon relocate to Double Bay, where in-store customers will be able to find it more easily. Our online customers will notice no difference in the great range and service they expect," he says.