Community land trust hits funds target
The People's Republic of Stokes Croft HQ in Jamaica Street
THE future of a community space looks set to have been secured after a fundraising target was reached.
Stokes Croft Land Trust announced it had met its minimum target of £272,000 to buy the People’s Republic of Stokes Croft headquarters.
It raised the money from more than 330 investors after starting its campaign in November last year. The trust is now up to £278,000 and is pushing to reach its maximum target of £345,000.
Its aim is to transfer the building, which houses an arts, events and exhibition space, with additional workspace for local artists, designers and craftspeople including the Stokes Croft China’s manufacture and digital businesses, to community ownership.
It says its aim is to curb gentrification of the area.
Keith Cowling, director at the Stokes Croft Land Trust, said: “It has been an exceptionally difficult time for people, businesses and communities across our city and this has been reflected in the need for more local spaces. We want to thank everyone who has already invested, helping to support and secure local buildings and land. We are calling on all Bristolians to join in and help us to reach our maximum target of £345,000.”
The trust hopes the HQ in Jamaica Street will be the first of many buildings to be transferred to community ownership. It says this will help to support local economic activity and enable locally-owned small enterprises to stay in Stokes Croft.
Hilary Sudbury, local co-operative and social enterprise development worker, said: “The collective power of the community can stem the loss of community assets and unique cultural areas that make our city distinct and different.”
In recent years, Cube Microplex, Bristol Ferries and the Exchange have secured the future of and now run valued community assets and services.
People and businesses who invest become members of the society, giving them equal voting rights and a say, alongside other members, in the future direction of the Land Trust. The project has a forecasted 3% return for investors.
To find out more about SCLT’s community share offer campaign, visit their official Fundsurfer page or subscribe to their mailing list.