By community reporter
Having raised over £120,000 in just over six weeks, Bramley Baths has been given the opportunity to extend their first community share offer.
Individuals and businesses have been invited to own a piece of historic Bramley Baths in an effort to raise funds to secure the longevity of the Grade II Listed building.
To date they have secured, £120,865:
- £70,865 – from the support of the community and other organisations
- £40,000 – Booster Fund
- £10,000 – Energy efficiency grant. A further £40,000 will be triggered when certain milestones are met
Business development manager Jennie Willetts said: “We are currently pursuing investment opportunities from ethical finance groups, local businesses, match funding and have further offline pledges of over £2,000.
“However, in order for us to unlock more match funding, we still need further investments to ensure the roof is repaired and we are able to implement cost saving measures in order for us to make long term savings on energy bills.”
Chief Executive Officer David Wilford added: “After 12 years of being community led, progressing to being part community owned is a big step.
“There has been a quiet revolution with the community shares model, as a way of ethically raising finance for large projects such as ours. With support from Cooperatives UK, our offer has under gone a rigorous quality standard procedure, giving confidence to our local community, and something they can be proud to be a part of.”
Investor Elspeth said: “I really hope that we can save Bramley Baths for future generations to enjoy. It’s a beautiful place with an incredible history and a bright future. Thank You to everyone for your energy and commitment.”
And Ann, 83, added: “I wonder if instead of buying Christmas presents, people could buy shares in Bramley Baths? It’s an investment, and it’s not too much, you can easily spend 50 quid these days. I just clicked on the links and spent £100 on shares.”
What are community shares?
At a time when charitable donations are at an all-time low, Bramley Baths decided to fundraise in a way that would give back to its supporters, through its first community share offer.
Community shares are an opportunity for people to champion an organisation like Bramley Baths, through financial investment.
Community shares are unique; they can’t be sold to anyone else, and no matter how many shares you buy, you only get one vote for your shares. That makes them a perfect way for the Baths to raise the kind of sums we need for large projects like this, as nothing will ever change the fact that the Baths can be owned by everyone.
People can invest from as little as £50, with benefits increasing with the pledge amount. Investors can choose their level of involvement, interest rate (up to 5%) and have their say on how the Baths is run.
Buy shares
For more information, visit the Bramley Baths crowdfunder link.
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