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Exter St Hallsupriya2024-01-25T06:48:20+00:00

The Community Sh able to explain legal jarg, and understandable way the principles of co-oper was reflected in the way support, re-assure and ir

Pub

Jubilee Pool Penzance

Jubilee Pool Penzance

£829,000

2018

Jubilee Pool is a tidal-filled outdoor pool on the Penzance seafront in Cornwall. Previously owned by the County Council, we were commissioned to give them options for accessing an EU-funded grant to give them geothermal heat. This was crucial to making the pool operate year-round, but need £1.8M of funding. We recommended the pre-existing 'Friends of Jubilee Pool' be reconstituted as a Charitable Community Benefit Society and undertake a community share issue. We worked with the new society to amass their funding package with a mixture of grants, and loans and then helped them launch their share issue in 2018 to raise the final £500,000. They smashed through their target, raising £529,000 (which they followed up with a second share issue to rebuild their cash flow after the pandemic) from 1,400 shareholders. They cleverly used tax breaks and share interest to attract major investors, and just 24 people provided 75% of their total, with 1,000 investors paying the minimum £25 membership.

Venue

Music Venue Properties

Music Venue Properties

£2,200,000

2023

The Music Venue Trust - the trade association for small and medium-sized music venues - had long recognised the ticking timebomb affecting the sector that came from so many venues renting their premises from owners who could make the venues unworkable through rent rises or refusing to renew leases. There had been long-standing intentions to create a sector-owned body to buy the premises and be the friendly landlord who could give certainty to venue operators about the future position, and help with rent holidays if future public health emergencies forced venues to close. We worked with the team at MVT to create a new entity, Music Venue Properties, which was a subsidiary of MVT which then sought funds to buy venues. MVP's share offer launched in 2022 and closed a year later after raising £2.2m and going onto buy 7 venues cross the UK.

Media

New Internationalist

New Internationalist

£700,000

2017

New Internationalist had been publishing its informative, critical journalism about global inequality and justice since the 1970s. Needing to come up with a compelling new design and reimagined content to respond to the challenge of the internet, they turned to their community of current and former subscribers with a campaign to raise working capital in 2017 and in so doing ended up promoting themselves to a whole new generation for whom their writing was fresh, vibrant and urgent. The community now co-own the publication, but day-to-day management and editorial production is solely in the hands of the workers. They went back to the community and raised a further £300,000 during the pandemic when advertising revenues took a nosedive.

Housing

Jubilee Pool Penzance 4

Jubilee Pool Penzance 4

£229,000

2010

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Media

Jubilee Pool Penzance 5

Jubilee Pool Penzance 5

£529,000

2017

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Service

Jubilee Pool Penzance 6

Jubilee Pool Penzance 6

£625,000

2019

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Venue

Jubilee Pool Penzance 7

Jubilee Pool Penzance 7

£825,000

2016

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