Adam Smith, the famous moral philosopher and political economist, occupied Panmure House in Edinburgh from 1778 till his death in 1790, and was buried in the nearby Canongate Churchyard. Not far from his last house, his statue was unveiled on July 4, 2008.
In March 2008, Panmure House was offered for sale by its owner, the Edinburgh City Council, and marketed by Rettie (see the brochure). This prompted a number of economists living in Edinburgh to express concern over the fate of the House (see the letter to the Scotsman) and to establish the Panmure House Project. More than a hundred people joined us, and shortly before the closing date for offers, we sent our letter to the Edinburgh City Council (see also the responses from the Council).
On May 13, 2008, the Edinburgh City Council agreed to the sale of Panmure House to the Edinburgh Business School (the Graduate School of Business at Heriot-Watt University), subject to the agreement of the Scottish Ministers because the agreed offer is significantly lower than the competing bid from a private developer (see the decision).
Many thanks to the Edinburgh Business School for making this important step towards preservation of the House!