Cooperative housing scheme seeks backing to complete the purchase of a local chapel as a community asset
A community group is seeking 12 small-scale investors to enable it to complete the purchase of a chapel in Pembrokeshire.
Community volunteers in Hermon village near Crymych, North Pembrokeshire have already raised £26,000 from 13 investors towards the purchase of Brynmyrnach chapel, which they hope to convert it into a new community asset with 2 flats for local people and a community heritage centre on the ground floor.
Members of the chapel have decided to sell the building for just £50,000 because it requires afford costly repairs to the roof and walls but are keen for the building to be retained for community use.
A public meeting has been called for Sunday 29 May to discuss the plans for the project drawn up by Cris Tomos, Chair of a community renewable energy cooperative in the village and Treasurer of 4CG Cymru Ltd cooperative in Cardigan, which owns £1.4m of community property in the town.
“The new Heritage and Housing Trust would be a Community Benefit Society and limited company,” Mr Tomas said.
“Local people would be the shareholders in this cooperative housing venture that will have a local letting policy allowing affordable housing for local families and couples, this could be a blueprint for other communities to take on the chapels and churches that are closing”
The project has seen 13 local investors joined to date who are asked to invest for 36 months and have a guaranteed return of 1.75% per annum on the investment to help purchase the chapel.
“We are now seeking a final 12 investors to reach the target of 25 people to put in £2,000 each that will then allow us to match the funding required to purchase and start developing the old chapel for local housing and a heritage centre,” Mr Tomos added.
Anyone interested in finding out more about the project can contact Cris Tomas on 07974099738 or email him at email@example.com
Additional information and a copy of the application form is now on the project Facebook page on www.facebook.com/hermonhousing.
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