Princetown launches cask sale to drive funding
English spirits producer Princetown Distillery is hoping to secure funding through a cask sale scheme launched by investment firm Spirit Traders.
The Dartmoor distillery, which is thought to become the highest distillery in the UK once it has been constructed, has partnered with the whisky investment firm to offer a range of different cask types for whisky fans to purchase.
Spirit Traders is offering investors the chance to purchase the first 600 casks of whisky produced at the distillery, with perspective buyers given the chance to choose from barrels that previously held Bourbon, Sherry and other wines and spirits.
Cask prices start at £4,900 (US$5,970), which includes 10 years of storage and bottling services.
The Princetown Distillery secured planning permission to construct its site on the Dartmoor National Park in 2017 and expects to commence production in 2020.
“This sale has been a long time coming,” said James Drew, international account manager at Spirit Traders.
Drew described the opportunity to purchase whisky casks from the distillery as a “grade A investment”, and described the spirit that the distillery will produce as “one-of-a-kind” due to its location and provenance.
Once open, Princetown Distillery will boast a £4 million whisky distillery, visitor centre and “small-scale” spirits store.