An appeal to raise £350,000 to repair and restore the roof at historic Bramley Baths has until the end of February to hit its target.
Instead of traditional methods of fundraising, the board at the Grade II Listed Baths decided they would launch their first community share offer, going from being community led to part community owned.
They have already seen a huge uptake in the offer with 256 individual investors; including £87,625 from community supporters, plus a commitment of £140,000 in match funding from ethical investors Booster Fund and Crowdfunder’s own energy efficiency grant scheme.
They have until Friday 28 February to raise the remaining £122,375, which will help find roof repairs and install energy saving solutions.
Business development manager Jennie Willetts said “We have already seen a fantastic response from our community and supporters – both local and beyond – and we would like to thank everyone for getting involved.
“But we need a final push to ensure we reach our target in order to unlock as much match funding as possible.”
CEO David Wilford said: “There has been a quiet revolution with the community shares model as a way of ethically raising finance for large projects such as this.
“People can get involved from as little as £50 and not only own their piece of Bramley history, but also contribute to our sustainability and support our commitment to being carbon neutral by 2030.”
A spokesperson for Co-operatives UK added: “We are excited to offer an investment of £40,000 from our Community Shares Booster Fund. To unlock this investment, Bramley Baths need to raise £310,000 matched investment from community investors.
“We’re investing as we were impressed with plans to future-proofing the building, while reducing running costs and increasing accessibility for the local community.”
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.
More details and to buy shares
For more information, visit Bramley Baths Crowdfunder link.
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