The incident happened in broad daylight, at around 3pm on Friday, April 29 at a property on Hill Rise, just off Shielhill Road and Police Scotland is appealing for witness to get in touch.
A force spokesperson said: “We are investigating an incident of wilful fireraising. A wooden fence at the rear of one the properties on the street was deliberately set on fire.
"The fire then spread and caused extensive damage to two sheds and their contents.
“The section of the street where this happened backs onto a common path leading to open ground, which is usually quite busy with runners and dog walkers.
"Whoever is responsible would likely have needed some time to start the fire, so there is a possibility that they may have been seen.”
Anyone who has any information that could assist the investigation, or who lives nearby and has private CCTV, should contact Police Scotland on its non-emergency number 101 or speak to any officer.
Information can also be passed on anonymously through CrimeStoppers on 0800 555 111, quoting incident reference number 2180 of April 29.