Scotch Whisky Investments (SWI) has purchased 7.7 hectares of land at the Southfield Industrial Estate in Glenrothes, as part of multi-million pound investment plans for Fife.
The whisky asset management business plans to create a whisky storage facility and offices at the Compton Road site.
InvestFife stated that this is one of the largest industrial land deals in Fife in recent years and should help with the regeneration of Glenrothes, creating jobs in the area.
The facility will deal with bottling and cooperage, as well as storage and maintenance.
Following a public consultation last August, Fife Council's planning department approved the project's first development phase in October.
SWI seeks to showcase the history of and educate people about single-malt Scotch whisky and promote investment in the commodity. Now that the sale of Crompton Road has concluded, the company can start to transform its vision into reality.
Pamela Stevenson, service manager for economic development at Fife Council, said: "Our property, development and investment team has worked hand in hand with Scotch Whisky Investments to support the company's significant investment in Fife.
"As a result of our team's interventions, we are delighted to see the sale of Crompton Road East conclude."
The Glenrothes acquisition is part of SWI's plans to make significant investments in Fife, including proposals for a new mixed-used development in Falkland, incorporating a new corporate headquarters building.
The company has a license to offer investment products in the form of bottles and casks of single malt Scotch, issued by the Dutch Authority for Financial Markets.
The new mixed-use development in Falkland also includes proposals for restaurants, a museum and hotel accommodation, as well as community facilities for the village.
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