Scotch Whisky Investments (SWI) has toasted the opening of its new whisky storage and warehousing facility at Glenrothes in Fife.

Comprising four whisky storage warehouses, maintenance and bottling buildings and offices, this £10 million investment marks the first phase of longer-term development in the site at Southfield Industrial Estate by the international whisky asset management business.

Supporting the cask investment and storage market, this will allow Scotch to age on site and forms part of a multi-million-pound investment by the company in Fife, stimulating the local economy, and creating jobs in the region.

Providing an extensive offering to clients, it will fill a recognised gap in the market for suitable Scotch storage by providing full-cask management services on site.

The company earlier this year acquired a further 7.7 hectares of land at the Estate, marking one of the largest industrial land transactions in Fife in recent years. This will accommodate the delivery of a large-scale whisky storage facility, bottling plant, cooperage, and office complex, critical to the company’s investment plans.

Intending to expand to 27 warehouses, which could hold some 200,000 casks, it is anticipated that this further development will create up to 38 full-time jobs onsite. The company has received some £850,000 in grants from Scottish Enterprise and had support from Fife Council in order to deliver this expansion.

SWI also recently announced that it is set to relocate its headquarters, currently located in Sassenheim outside Amsterdam in the Netherlands, to the Fife village of Falkland. The headquarters will be located at the site of the former St John’s Works, situated to the south of the urban edge of the village.

This includes proposals for a new iconic corporate headquarters building with hospitality, offices, some retail and a small number of cottages for investors, visitors and staff. It is also the intention of SWI to relocate one of the world’s largest whisky collections to its new home in Falkland once the new development is completed.

Keith Rennie, Managing Director for Scotch Whisky Investments, said: “We are delighted to open our new whisky storage facility here in Glenrothes and would welcome anyone requiring such facilities to come and speak with us.

The facility, which will be our base in Scotland for many years to come, is a crucial part of our expansion plans globally, delivering a multi-million-pound package of investment in Fife and creating considerable employment opportunities.”

He added: “Our vision as a company is to showcase and educate people about single malt Scotch whisky and promote investment in the commodity. Our new state-of-the-art storage facility will help us achieve that goal.

We would like to thank both Fife Council and Scottish Enterprise, who provided significant support and funding for the additional phases of this development.”