Press Release: Glenwyvis community share offer well under way
Community Shares Scotland
First half million mark reached in Glenwyvis community share offer to build first ever community-owned distillery in Scotland
Strong early interest in Highland distillery shows project is well on track
Community Shares Scotland and GlenWyvis Distillery Community Benefit Society are seeing steady uptake in shares following their recent Community Share Offer launch with a current total of £517,174 in pledges to date
GlenWyvis based in the historic Highland town of Dingwall aims to create Scotland’s very first community-owned craft whisky distillery, 270 years on from the Battle of Culloden. GlenWyvis aims to raise over £1.5m of investment that will help to put whisky distilling back at the heart of Dingwall.
To ensure a high level of local ownership of the distillery, locals living in “IV” postcode areas can invest for as little as £250. Investment opportunities start from £750* for UK and international investors interested in buying into Scotland’s first community owned distillery with tranches* of investment rising to a maximum investment of £100,000.
The distillery is the brainchild of the Flying Farmer, John F Mckenzie, supported by a board of directors and local community representatives. John said: “We are seeing a very strong early interest in our community share offer, so we are urging people to move quickly on investing. It is a great chance to be a part owner of a Scottish distillery and make a social investment that will benefit the local community too.
“We have a truly winning combination here of a stunning Scottish Highland location, immense historical appeal linking back to Culloden, Burns and Ferintosh and readily available hydro, solar and wind energy to bring this innovative whisky project to fruition.”
“From the outset we have envisaged the project as more than a distillery. It is an opportunity for all social investors to help reinvigorate the historic town of Dingwall. GlenWyvis will be built on its whisky heritage, its community-ownership and its environmental credentials. We have amazing local resources and will be using only local barley from a farmers’ cooperative – hence our strapline built on history – powered by nature”
Commenting on the share offer Kelly McIntyre, Programme Manager, CSS said: “Early indications are showing this community share offer has real appeal for both locals and whisky enthusiasts further afield and we are impressed at the level of interest and steady investment shown from the start and encourage interested parties to make their pledge today.
“GlenWyvis has a truly international appeal with an amazing whisky heritage story which will strike a chord with expat Scots and the Scottish Diaspora worldwide and has the added impact of sitting nicely along the North Coast 500 route. And with its historic story links to Forbes of Culloden there is all the more reason for investors and visitors alike to become involved.”
Kelly added: “It is one of the biggest community projects we have been involved in to date and we hope it will make a seismic impact in the kind of projects that we will see coming forward to work with Community Shares Scotland in the future
Whisky has been made in Ross-shire and Inverness-shire for centuries and inspiration has been taken from former distilleries: Ferintosh, Ben Wyvis in Dingwall and Glenskiach in Evanton. The original Ferintosh Distillery was established by the Forbes of Culloden family in 1690, on the Black Isle just east of Dingwall, and is one of the oldest recorded whisky distilleries in Scotland. The new Distillery will re-instate craft whisky distilling to the Dingwall area, some 90 years after the last of the town’s original distilleries closed down.
The famous Ferintosh brand of the day was a much loved whisky throughout Scotland and was a favourite of Scotland’s great bard Rabbie Burns, who lamented: “Thee, Ferintosh! O sadly lost! Scotland lament frae coast to coast!” … on its closure in 1785.
The new GlenWyvis Distillery will be built on a farm above the town of Dingwall and will be 100% community-owned distillery and 100% powered by green energy.
Construction of the distillery is due to commence in June 2016 with the first run of whisky planned for Burns Night 25 January 2017. The distillery will produce craft Scottish whisky and there are plans for an associated Visitor Centre in the town to be added as part of a wider plan to recreate Dingwall as the Craft Distillery Town of Scotland, and as a quality tourism destination on the North Coast 500 route.
The GlenWyvis Community Share Offer opens on 16 April 2016 and closes on 24 June 2016. However, the board reserves the right to extend this deadline if the amount raised is close to the total required to proceed.
Details on how to invest in GlenWyvis Community Share Offer along with the Share Offer Notice can be found here: www.communitysharesscotland.org.uk,http://www.crowdfunder.co.uk for international investors.