FIRST TASTE: Thera Terra, Alpha Estate’s Santorini debut

By Yiannis Karakasis MW

Alpha Estate took its time with this new project in Santorini. I first heard about it as a next stop that Makis Mavridis and Angelos Iatridis had been thinking about for years, perhaps decades. Then came the 2024 acquisition of the former Boutari winery and now, finally, we have the very first Santorini wine in our hands. What a long journey indeed!

Following the acquisition, Thera Terra was established as a separate company, and its first harvest took place in 2025. The maiden vintage will be released commercially in the coming weeks. With the former Boutari winery undergoing major renovation, Iatridis expects to begin vinifying there in 2028.

The route and the whole philosophy were clear from the start. Investing in the vineyard. Thera Terra now owns 2.73 hectares and aims to expand this to 20 hectares over the next 5 years. It also holds a further 7.30 hectares under long-term leases. Iatridis provides every detail: “Independent growers supply 60% of our fruit. The remaining 40% comes from vineyards under our own management.”

The 2025 vintage produced 4,500 bottles. The provisional volume for 2026 is 9,800.

Tasting the wine, it is clear it was produced with great attention to detail. Thera Terra 2025 is 100% Assyrtiko, made from dry-farmed, kouloura-trained vines aged 20 to 60 years in Episkopi. With 14% abv, it is elegant and on the aromatic side. Herbs and citrus lead on the nose, followed by pronounced chalky minerality. The fruit is pure and precise, with a fascinating tannic grip toward the finish. (pH 3.03, TA 6.78, RS 1.2)

A return to Santorini

So what can Alpha Estate bring to Santorini? That is the million-dollar question. Some call it an arrival, I would argue it is a return. Let me explain.

For Angelos Iatridis, the move is steeped in personal history. His connection to the island began more than 30 years ago, when he managed Boutari’s regional wineries. In fact, he worked at the very winery Thera Terra is now preparing to restore. Now that’s a coincidence.

“This is a return to a place with which my association has remained alive, even though most of my professional life has been spent in Amyndeon,” he tells me, understanding the limits of that earlier experience.

“My previous experience is precious and today’s observations are essential. We need to understand the vineyard as it is now, recognise its needs and collaborate with the people who take care of it.”

This is perhaps the most rational starting point for any producer coming to the island. Santorini already has plenty of people arguing that they know what should be done. It needs people willing to spend time understanding what is actually happening in its vineyards.

Listening to the vineyard comes first. Closing your eyes for a moment and sensing what is happening there can sometimes tell you more than a ready-made solution.