Update: 30.10.2019 - Extension of offer
Below is a copy of a letter from the YorSpaceteam, updating on the share offer extension.
Dear Yorspace Subscriber,
Thank you for investing in our Community Shares. We are delighted with the support we have received, and are grateful to everyone who has helped us take this important step towards providing forever affordable homes in York.
We are writing to inform you that the YorSpace Board has decided to extend the offer until the 1st December 2019 in order to give investors more time to subscribe to the shares and reach our minimum raise of £365,000. This means that your subscribed monies will be held for longer than we originally expected, but also enables your investment to have a greater impact.
Update 30th October 2019
To date, we have received £263,500 in subscriptions, with several investors lined up. We are confident we will hit our target of £475,000 by the end of the extension. However, we need £101,500 between now and the end of November to reach our minimum raise of £365,000. As we have extended the Share Offer Period, we should point out that you can reconsider your subscription if you wish. However, we very much hope you will continue to support this important development of community-led homes for local people in York, and enjoy the benefits of your investment - both social and financial - long into the future. As a member of YorSpace, you will, of course, continue to influence Lowfield Green and future community-led affordable development in the City.
Since we launched our Share Offer we have received:
- £100,000 investment from Co-ops UK Booster Fund: This means that every pound invested from our subscribers is matched by a pound from the fund, up to the value of £100,000
- £68,000 funding from Power to Change Homes in Community Hands towards the Lowfield Green development
We are on course to complete the land purchase at Lowfield Green by the end of 2019, with a start on site early 2020.
We value your ongoing support
We are extremely grateful for your continued support and hope you stay with us for the long term to enjoy the benefits of investing. We would really appreciate it if you could share the link to our investment with your networks as widely as possible at www.yorspace.org/invest.
Our heartfelt thanks, again, for your continued support.
YorSpace Board of Directors