Would you like to own a piece of Southwold?
Southgen has already raised the money to buy the land. Now we need to find £800,000 to redevelop the building for the community and business hub. We aim to raise half of this money through grants and the rest from the sale of community shares. Donations are also very important. Each share will cost £25 and when you own a share, you become an owner of the building.
Already 450 people have expressed an interest in buying shares. If you too would like to own a piece of Southwold or find out more about this innovative project please fill out the form below. Sale of shares will commence at the end of March.
We are selling Hastoe part of the site for affordable and market housing and using the money they pay us to buy the site from the NHS. We will then need to raise an additional £650,000 to redevelop the part of the hospital that we are retaining – the community hub and business space.
We will be applying for grants and donations, of course, are very welcome. But we hope to raise most of the money by selling community shares. Shares are not tradeable but you can buy them back and although they won’t increase in value, you can leave them in your will to family or even bequest them back to SouthGen.
After the business is up and running, the shares can pay a small dividend. Already, more than 400 people have expressed an interest in buying shares.