The Society aims to raise approximately £6.5 million to purchase and redevelop the building that will become Scotland’s Heritage Hub.

This major capital fundraising campaign will be led by Deborah Roe, our newly appointed Head of Fundraising, who joined the Society in March 2025.

An application has already been submitted to the National Heritage Lottery Fund, and the remaining funds will be secured through the fundraising campaign launching late 2025.

After the initial purchase and redevelopment, the building would pay for itself. The residential properties and additional income from office and other rentals will cover the management and maintenance of the property with the net profit gifted to the Society for its charitable activity. The building, and especially the flats, provide net income up to an estimated £130,000 a year, ensuring the Society is more financially secure and can develop more benefits for the heritage sector, the public and Fellows.

We intend to raise the full purchase cost of the building by 1 January 2027 and avoid the necessity for loans which would impact on the financial return the project can provide to the Society and thus its charitable objectives; this would also ensure the project has long-term sustainability.

How is the project being managed? 

Council of the Society is fully committed to the project which is managed using procedures that include checks and balances for Council and its relevant Committees to review, consider and agree the project at each stage. A specific Working Group has been created to critically evaluate and support the project in detail.

Council have engaged fundraising experts, More Partnership, to support and provide specialised advice and we have already begun discussions with major grant giving bodies. Council will continue to engage the expertise it needs to successfully monitor and deliver the project.

Image Credit: Benjamin Tindall Architects

After the initial purchase and redevelopment, the building will pay for itself