Deadline looms for town project

Pupils from Penicuik and Beeslack High Schools launched the share scheme back in December. Photo by Jane Barlow
Pupils from Penicuik and Beeslack High Schools launched the share scheme back in December. Photo by Jane Barlow

The deadline is fast approaching for individuals to purchase shares in an innovative community venture in Penicuik town centre.

So far 260 investors in Penicuik Community Alliance Ltd have raised £56,000 towards the Storehouse project, which aims to rejuvinate the former Nickel and Dime store on the High Street.

The venture must raise a further £26,000 of investment by the end of the month if the project is to move forward unlocking another £150,000 from Scottish Government and £100.000 from Social Investment Scotland.

Working to plans drawn up by architects Lee Boyd, and with suggestions from worldwide store designer Sean Pettit who is one of the Alliance team, the project will cover two floors in High Street and Bank Street.

The premises will offer a working Breadshare bakery, cafe, food hall and indoor market, along with opportunities for onsite employment, volunteering and training, community workshops, and a social supermarket. The Alliance has been set up as a community benefit society regulated by the Financial Services Authority and the alliance shares offer has been awarded the Community Shares Standard Mark of good practice.

“Midlothian Council have been very supportive and so has Penicuik First and the local traders,” said Roger Kelly of the Alliance.

“Along with massive support from school pupils getting involved by working hard to raise awareness.

“Local youth bands are giving their backing and many investors are from faith communities.

“Nearly all of the shares so far have been bought by local people, but the benefits are intended to reach out from Penicuik to town centres across South East Scotland and beyond. It is an example of people-power, citizen-led regeneration.”

See how to buy shares at the Storehouse, Penicuik, and online at www.penicom.net