Monkswell is a spring on the hillside above Newburgh. It has been named thus since the days of Lindores Abbey, when it was used by the Monks. They built an artificial course which led the water to the Abbey. This course was known as the 'Rood- un-burn' or Holywell burn but was covered over in 1850.

There are many wells in and around Newburgh, most of which are now covered. They were in use from ancient times right down until the beginning of the twentieth century and formed an important focal point in the lives of the townsfolk until 1911, when the first mains pipes were laid, and ended a tradition which had endured for centuries.