The Heavens Valley Community Benefit Society (HVCBS) has now raised enough money to go ahead with the purchase of Thrupp Farm in Stroud. The group say this is in thanks to a 'wonderful community response' since a recent appeal was launched to raise an extra £30,000 needed at the start of this month. The HVCBS now has £300,000 in the bank, which, combined with loans from the two committed local people who have contributed bridging funding, will fund the £850,000 purchase cost.
Solicitors are currently drawing up the documents and finalising the details needed for the HVCBS and the seller to exchange contracts. The purchase will be the end of the first phase of the campaign to bring the Heavens Valley into community ownership. This phase has seen more than £300,000 donated and more than 600 people buying shares so far, with more shareholders signing up every day.
The next phase will be to raise a further £550,000 to repay the loans, as technically, the lenders will own some of the site until repayments are completed - each chunk of money repaid will bring more of the land fully into community ownership. Karen Thomas, one of the HVCBS team negotiating the purchase said: “Our lenders want this beautiful land to be completely owned by the CBS as they are themselves part of the local community and are not in a position to manage large areas of public land themselves. "So we will be redoubling our fundraising efforts and we are confident that the community will continue its s.