Holyrood Distillery is hoping to catch the eye of UK investors as it seeks to raise £5.5 million (US$7m) to become the first single malt distillery in Edinburgh for 90 years.
The funds raised will see David Robertson, former master distiller for The Macallan, and Rob and Kelly Carpenter, founders of the Canadian branch of The Scotch Malt Whisky Society, open the distillery and visitor centre in the city centre.
Led by chartered accountant Johnston Carmichael, investments will be used to renovate the 180-year-old publically-owned Engine Shed building, buy and install equipment, set up the visitor centre and provide working capital.
The fundraising activity follows a City of Edinburgh Council decision in August 2016 to approve planning permission at the site.
Once operational, the Holyrood Distillery will produce single malt whiskies, gins, liqueurs and other spirits using “innovative” approaches to ingredients, distilling and maturation.
The visitor centre, named Home of Flavour, will provide sensory and educational experiences for guests to the site.
The Holyrood Distillery is scheduled to start production in late 2018, with product potentially on-shelf as soon as 2021.
A “flavour first” approach will see prototype gins and liqueurs made for test marketing in early 2018, with products on-shelf for the distillery opening later that year.
“We feel truly fortunate to have the opportunity to be part of bringing single malt distilling back to Edinburgh after far too long an absence,” said Rob Carpenter, Holyrood Distillery managing director.
“Kelly, David and I all love our spirits and we’re incredibly enthusiastic about making flavour-filled single malts, gins and other cool tipples as well as creating an experience which allows our visitors to truly immerse themselves in the world of Holyrood.
“We are confident that by placing a working distillery in the heart of Edinburgh’s capital, with the visitor numbers and cash flow that is expected to provide, we are creating something that is quite different from the typical distillery start-up.”