In 1787, Viscount Stormont granted a lease to William McAlpine, a Glasgow Merchant, to build a Printfield and Cotton Spinning Mill at Colenhaugh. To show his appreciation, William McAlpine renamed the area Stormontfield in honour of Lord Stormont. William McAlpine in the course of time looked after the welfare of his workers by providing homes for them.
The 1792 Statistical Account for Scotland, under the Parish of Scone gives a description of Stormontfield:
Stormontfield Bleachfield - ‘This place, presently possessed by Messrs Thomas and John Barland had its name changed from Colenhaugh to Stormontfield, in honour of the proprietor, the Earl of Mansfield, formerly known by his title of Viscount Stormont. It is situated on the Tay, exactly opposite to Luncarty, in a pleasant field, along the side of the river, consisting of about 130 acres. A canal, about three miles in length, and 18 feet in breadth, cut, at a very great expense, through steep banks of the Tay, rock marl and whinstone, always furnishes it with an abundant supply of excellent water from the river. A small canal also from the brook of Innerbuist, affords an occasional supply and the bleaching grounds are of very fine soil, and have excellent exposure. Adjoining to the bleaching mill, is a mill for spinning cotton, upon a small scale. The house for the machinery is a large structure, substantially built of free stone, and noble in appearance. Some of the other houses are elegant; and all of them are remarkably commodious. Besides the fall of water, which at present drives three wheels, there are likewise three other separate falls; one of eight feet, and two of four, equal by the command of water to turn any weight of machinery which, when fully occupied, will be an important addition to the industry, and population of the parish; the work, it is presumed, being as yet but in its infancy. There is there, bleached in a very satisfactory manner, a great quantity of britannias, diapers and every other sort of cotton and linen cloth. As labourers are scarce in this part of the country, the only thing wanting to complete Stormontfield is an independent village, properly laid out, which would be of the greatest advantage both to the proprietor, and the public at large. Mr William McAlpine, a man of genius and enterprise, has the merit of having begun and carried on to a considerable length, the canal and buildings of this place’.