Busy summer for community shares

21st Sep 2018

Two busy summer months have seen four active share offers supported by Community Shares Scotland, between them attracting investment of over half a million pounds. 

Three time-limited share offers launched and ran during the summer months of July and August, while Glenwyvis Distillery continued to attract investment to its ongoing open share offer.

Campaign successes

Dunshalt Community Shop Ltd successfully met its community shares target of £30,000, which will allow the group to refit and stock the shop building it purchased with support from the Scottish Land Fund. 

Oban Communities Trust raised an impressive £202,000 to support its efforts to revive an historic school building as the Rockfield Centre, a community arts and learning hub. 

Eleanor MacKinnan, Project Facilitator for the centre said, "It is a hugely exciting time for the project. We are on the final steps in raising the £3 million cost of the capital works. The money raised from community shares means we are demonstrating that this is a project that the community wants to see happen sooner rather than later and reduces our need for loan capital".

Ongoing share offers

Meanwhile the share offer remains open for North Uist Energy's plans to erect two 900kW wind turbines on the island. The group has already attracted £260,000 putting it well on track to reach its £350,000 minimum target. With a minimum investment of just £250 and expected interest of 4% the project offers an attractive incentive.

Last but certainly not least, the open share offer for Glenwyvis Distillery continues to surpass all records. Having already raised an incredible £2.5 million with a time-limited share offer in 2016, the Dingwall-based group has attracted steady investment to its ongoing open share offer. The investment target has now been stretched to £1 million after the original target of £750,000 was raised.

 

Opportunities to invest around Scotland

A round-up of recent share offer launches

Two share offers may have closed in the past few weeks, but three more have opened in their place. 

Bridgend Inspiring Growth held a launch event on Sunday 2 September as it seeks share funding to redevelop the Bridgend Farmhouse.

The group has been working closely with Community Shares Scotland as it developed its business plan and share offer. Its plans for the farmhouse include a community cafe, a training kitchen, various spaces to hire and a base for outdoor learning.

After just over two weeks the share offer has already attracted over a third of its £30,000 minimum target, though volunteers will be hoping they can reach a more ambitious £50,000.

Residents in Morebattle in the Scottish Borders are also looking to raise £50,000 to fund a community shop. The group has already secured £143,000 from the Scottish Land Fund, meaning funds raised through the share offer will be earmarked for working capital.

Finally, a group in Dalavich has launched a campaign to sell £250,000 in community shares as it aims to refinance its operational hydro-electric scheme. Awesome Energy previously issued community shares in 2016, however they hope that by attracting more investors they can pay back commercial loans - thereby reducing costs and increasing benefit to the community. To learn more visit their Crowdfunder page.