NEWS OF PANMURE HOUSE, EDINBURGH

Latest from the Panmure House Project to restore Adam Smith’s Home in Edinburgh where he lived from 1778-1790 (Smith's only surviving residence from 1723-1790).

“RESTORING AND REDEVELOPING AN HISTORIC HOME”

“We are delighted to report that the work to restore this lasting symbol of one of Scotland’s greatest thinkers is moving forward and the careful building blocks needed to restore this historic building are now in place. The initial underpinning works have all been successfully completed and we have recently received tenders from four firms to undertake the next phase of work required to redevelop the building to the highest possible standard.

The contract for the conservation of the original building has now been awarded to Ashwood Scotland Ltd, a local company with expertise in the conservation of historic buildings. This phase of the project, which will start on site in July 2014, has attracted a grant of £150,000 from the Edinburgh World Heritage Trust.

On the right, you can see a digital representation of the house once the work is complete.

As a friend or supporter of the Panmure House campaign to restore and redevelop Adam Smith’s final home, we wanted to let you know about the exciting progress made to date on the project and our plans for the future.

We are extremely grateful for your support for the project and we hope you will become more involved in the campaign as it moves into its final and most important stage.

LEADERSHIP

We have been very fortunate to have some enthusiastic volunteer leaders on the project who have reached out to their contacts to find potential donors for the campaign or who have organised fundraising events – many of which have yielded significant donations.

As the campaign progresses we are very keen to recruit further volunteer leaders, particularly in the United States, Europe and Asia, to help lead fundraising efforts and bring in new networks of contacts to take us over the finishing line with this worthwhile global project.

Below is a mock-up of how the new foyer created from the enlarged basement will look, welcoming visitors, describing Smith’s contribution to economics and moral philosophy, and displaying artifacts from his life and works.

SUPPORT FROM THE SCOTTISH GOVERNMENT

We received a ringing endorsement for the project from Alex Salmond, First Minister of Scotland, who has appeared on promotional videos of Panmure House (which you can find on our website at http://www.panmurehouse.org).

We have had further support from the Scottish Government through Fergus Ewing MSP, Minister for Energy, Enterprise and Tourism. After a successful tour of Panmure House, Mr Ewing indicated that the Scottish Parliament may wish to use Panmure House as a venue for official events.

The Minister responded to his tour with the following comments:

“Many thanks for taking the time to show me Panmure House and the exciting plans to restore it to its former grandeur, and thereby create an enduring attraction for Edinburgh and

Scotland.

I am sure that the restoration will receive worldwide attention and interest. The legacy of Adam Smith

and the fellow leaders of the Scottish Enlightenment will be enhanced. A new meeting place and site for learning and lectures will be created.

Panmure House will offer a prestigious meeting place for lectures, business groups, academic deputations and a host of other potential uses.”

FUNDRAISING UPDATE

Donors from around the world have been pledging their support for the restoration of Panmure House and the running costs associated with it.

We have received capital donations and pledges of £1.6 million towards the building works and have secured funding of £190,000 per year towards the programmes and running costs for the project, with letters of intent for further revenue income from the University of Edinburgh amongst others.

The capital campaign recently raised over £320,000 at a fundraising event in Hong Kong – a city closely linked to Adam Smith through the spread of his ideas. This is in addition to the £624,000 grant from the Global Philanthropic Trust made late last year.

We are extremely pleased with the level of support given to the project for running costs. This is highly unusual for a project of this size and with these important commitments in place it will ensure that the on-going costs associated with running the building will be covered for the foreseeable future.

With such success on the revenue side of the fundraising campaign, the campaign’s priority now is to raise the remaining capital needed – £2 million – to achieve the project costs of £3.6 million.

NEXT STEPS

As a friend or supporter of the Panmure House campaign, we want to keep you fully informed as the campaign progresses into its final stage and we would be delighted to have you more involved.

We are keen to know if there are people in your network who we haven’t reached out to before, and who may have the capacity and the propensity to donate and get involved in the campaign.

Please contact Nicole Gray Conchar, Director of the Campaign’s Fundraising Team, on +44 207 207 1887 or via email at ngc@ebs.hw.ac.uk.