A new community-owned Highland distillery has marked its latest construction milestone by announcing a new share offer, which will launch in August.
GlenWyvis Distillery is launching its second share offer after hearing from locals and visitors who want to be part of the world’s first 100% community-owned whisky distillery.
More than 2,600 members invested in the original share offer in 2016 and the distillery hopes to capitalise on continued approaches by potential investors, as well as visitors finding out more about the distillery project as they tour the area.
GlenWyvis Distillery Community Benefit Society will launch the new share offer on Thursday 3 August at the Black Isle Show in the Scottish Highlands.
The minimum level of investment in the new share offer will be £250 for all investors – and supporters will also be able to pay extra to have their name added to the distillery wall.
Funds raised towards a target of £750,000 will help to reduce commercial lending and accelerate the distillery’s brand development plans in line with feedback received from members in a recent survey.
This will include extending the GlenWyvis brand and product offering, bringing gin distilling into Dingwall, and further development of the GlenWyvis visitor experience in and around the town to maximise the benefits of the distillery’s new business partnership with the North Coast 500.
The steel frame of GlenWyvis Distillery in Dingwall was built in late June, and is now visible on the hillside high above the Highland town. Contractors are busy finishing the exterior walls, and the copper stills will be installed this month, with the first run of new make spirit scheduled for late November.
Founder and managing director John McKenzie said: “The second share offer was always in our plans – and we’ve brought it forward to give a new audience the opportunity to be part of our community-owned distillery.
“The decision to open up the £250 investment level to everyone everywhere, albeit with a reduced rewards package, has been made to widen membership in GlenWyvis to as many people as possible.
“Our aim is to reach local people who missed out on the original offer, and to make membership accessible to visitors who come to explore the Highlands via the North Coast 500. We believe that more investors will translate into more visitors both for GlenWyvis and for the town of Dingwall.”
He added: “People who missed out on the original share offer are always asking if they can invest, and even more so now that the building is taking shape and we’ve opened GlenWyvis Basecamp down in the town itself. It is an exciting time, and this new share offer will not only help us to fast-track our brand, but will reduce bank lending, so we can deliver on our community benefit remit sooner.”