WILMINGTON — The owners of Prestige Brewing had hoped to open their brew pub on Castle Street in mid-July, but have now decided not to pursue running a business at that location.
According to Terry Espy, who manages the location for Momentum Properties, the owners negotiated a “friendly backing out,” from their lease at 509 Castle Street. According to Espy, after an investor decided to withdraw from the project the owners decided it was best to walk away.
For those who have been waiting for the brewery to open, there is some good news.
“There’s about a month or so of work to be done, it’s fairly close to being ready to open,” Espy said.
The location includes kitchen equipment – a hood system, walk-in refrigerator, grease traps and sinks – as well as brewing equipment that was being financed by Prestige. According to Espy, the equipment financer is willing to work with new owners, meaning the equipment can stay on the premises and could be put to work in the near future.
Espy said several experienced business owners had approached her in recent weeks about the property and she was confident the neighborhood would see a brewery restaurant soon.
“The area is bursting with demand,” Espy said. “I know a lot of people who are ready for there to be a community-gathering kind of place there. It’s the perfect location for it, and I think we’ll see something there in the near future.”
