Investors' Information
Introduction
St Ives Community Land Trust formed in 2014, registered as a not for profit Company under CCSB14 and progressing to become a Registered Society in 2015. It gathered support for a different way of managing housing, workspace and community needs specifically for St Ives, Cornwall.
The project has a Board drawn from members of the local community and who can offer wide experience from their individual career pathways and who are committed to delivering a successful and affordable project base. There are two key projects – the acquisition and redevelopment of Old Vicarage Flats to provide six affordable rental homes and the acquisition and redevelopment of Old Town Fire Station to provide affordable rental workspaces.
Other initiatives include the introduction of the St Ives Charter which created a route through which all aspects of community value and way of life could be promoted and protected for the future.
Old Vicarage Flats
We bought the building under mortgage via Triodos Bank for £570k and raised £240,000 through a Community Share Issue (through Ethex) plus other funding sources to enable its redevelopment. The Red Book and post-project completion valuation has independently set the value of the project to be £1.4m.
The OTFS project is likely to be of a post-completion value in the region of £775k.
The business plan which you can download using the link below sets our main project of Old Vicarage Flats into context and seeks to provide some detail about the town and its community.
St Ives has such an outstanding area of natural beauty and is of course a holiday destination for some 450,000 visitors. Nevertheless, it has significant local economic challenges around low pay, seasonal employment, expensive housing and transport costs. The successful Neighbourhood Plan of 2016 addresses these issues and has layered specific planning restrictions in place to stem indiscriminate development whilst encouraging local building of homes for permanent occupation.
Our projects have grown through the needs and demands of the local community and it is the local community, through the St Ives Community Land Trust, that are taking the steps to do something about their concerns by providing affordable homes and affordable workspaces.
Financial Information
Interested in investing?
Although our Ethex Community Share Issue has now closed, you can still invest in our Old Vicarage Flats project. The minimum investment amount for investors living within the TR26 postcode area is £100 and for all other investors is £350.
Contact Jill through the contact us page for more information.
Alternatively, you can donate towards the project, either using the ‘donate’ button below or using the ‘donate’ button on the Old Vicarage Flats page.
Donate to the Old Vicarage Flats Project
We are eligible for grants and other funds, but we still need to have our own funds too.
We also need to raise money as match funding for those grants etc.
So, if you’d like to support our aims and projects, you can make a donation for the CLT below.
Please contact us if you have any questions, or you are donating to a specific project, or you’re outside the St Ives area but would still like to support our work.