Valleyfield was once the main site of Penicuik's lucrative paper industry, and also the main railway link to Bonnyrigg. During the Napoleonic War, the paper mills in Penicuik were used to house French Prisoners of War, who reportedly haunt the site. A monument for the Prisoners is situated in Valleyfield.

Ten years ago the site had been concreted over, but now has been turfed and contains an exclusive cul-de-sac. But who knows if the hauntings still take place ?

Reports of moaning, banging, chain rattling and what could only be described as dragging metal sounds are common.