Storehouse share scheme starts

The sharescheme for the Penicuik Storehouse project is launched at Penicuik High School
The sharescheme for the Penicuik Storehouse project is launched at Penicuik High School

Shares have gone on sale for the new Penicuik Storehouse initiative involving the town’s development trust and high school.

Money raised from the share scheme will go towards Penicuik Community Alliance’s project to reinvigorate the town centre.

The Penicuik Community Development Trust, acting on behalf of the newly formed Alliance and Penicuik First BID Ltd, has been awarded £150,000 from the Town Centre Communities Capital Fund.

The Alliance is looking to convert the former Nickel and Dime store on the High Street into a community venture with bakery, cafe and shop.

Alliance acting chairman Roger Kelly said the project was based on a model successfully used by Portpartick Harbour and Harlaw Hydro Scheme to generate funds.

“The initial feedback (to a share scheme) from traders and people we met at the street market has been very positive,” he added.

The Alliance is looking to generate at least £82,000 from the shares, which are on sale for £25 each.

The share scheme was launched at Penicuik High School where pupils from S4 to S6 have been closely involved in the Storehouse project.

Isla Thom (S5) explained the students had been heavily involved in organising the project launch as well as attending Alliance weekly meetings, meeting with the architect and solicitor. Students are also running the Storehouse’s social media outlets.

“It is incredible important for us to be involved,” she added. “It helps us with leadership skills and getting a grasp of things which can’t be taught in class.”

MP Owen Thompson (SNP) praised the project for involving the students.

“It is brilliant. I met with the young people recently and they told me about it. Once you see the enthusiasm, this is something quite different.

“The pupils are very, very hands on. If the enthusiasm and energy is anything to go by they deserve this to be successful,” he added.

For more details about the Storehouse and shares go to www.penicom.net