Pacey, a precocious young lady who loves adventure and doesn't always do as she is told, visits her great aunt and uncle in Arbroath, Scotland accompanied by her two younger brothers. They quickly make friends with the girls next door and start to explore the area. She becomes intrigued by a scary Victorian water tower on a nearby hill. One night when she couldn't sleep, she notices mysterious flashing lights coming from the top of the tower. Tales of hidden treasure under the tower from her rascally great uncle leads her to investigate further where she discovers a secret message hidden in the towers plaque that she thinks will lead her to the treasure. Aided and abetted by her brothers, they encounter the scary elephant men where trouble and terror ensues.