Penicuik Storehouse Makes Final Push for Community Investors

27th Jul 2016

This is your chance to become a co-owner and supporter of the Penicuik Storehouse. For as little as £25, you can support this exciting new social enterprise, which will provide a welcome boost to Penicuik town centre. Investing is easy: simply via the group's Microgenius page and enter your details. No money will be taken unless they meet their target.

Invest here: http://www.microgenius.org.uk/project/penicuik-storehouse-43 

Based in the old Nickel and Dime store, the Penicuik Storehouse will include a bakery, café, food shop, indoor market and multi-purpose community space. The project seeks to make healthy, locally produced food an affordable reality for all of the people of Penicuik and the surrounding area. Once operational, the Storehouse will also create up to seven jobs as well as training and volunteering opportunities. As a social enterprise, all profits will be re-invested in the business or social benefits such as training. The brainchild of the Penicuik Community Association, which was formed last year, this project has the support of many partners including Penicuik High School, Midlothian Council and others.

The Storehouse is taking a cutting edge co-operative approach by selling shares to supporters who wish to invest it its development. This means that rather than simply making donations, investors will become equal co-owners of the Storehouse and that the project will genuinely be owned and led by the community. It is the first project of its kind in Midlothian.

They have already gained £150,000 in grant funding from the Scottish Government to help fit out the building and buy equipment. In order to unlock loan funding from Social Investment Scotland, they must raise £82,000 in share issues by the end of March. To date, £46,000 has been pledged, so this is a final hard push for investment.

In addition to the Microgenius website above, you can also purchase shares at the Registered Office, 7 Bridge St, Penicuik EH26 8LL, by post, or using  forms downloaded from www.penicom.net  

Friends outside the UK can invest via http://www.crowdfunder.co.uk/penicuik-storehouse, where there are options to use Stripe and PayPal.

For queries or further information, contact Roger Kelly: roger@penicom.net.