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YorSpace 2019 community shares offer

£250 minimum

YorSpace is raising finance to acquire the land on which to build 19 permanently affordable homes for families in York.

Investment is in Community Shares which are targeted a 2.5% interest rate which is paid in to a share account and can be withdrawn after three years of trading.

Minimum raise for offer to proceed


Financial return

This is primarily a social investment, but YorSpace can pay interest on share capital. The Financial Conduct Authority require YorSpace to state the maximum interest that will be paid and that this is no more than is necessary to attract capital. YorSpace intend to pay 2.5% interest on these shares and this is the maximum that will be paid.

All interest will be added to your share account. This means that there will not be interest payments directly to you but that your interest will take the form of additional shares credited to you which ultimately can be withdrawn, subject to the Directors' approval. Shares can be withdrawn from a point three years after the share offer closes.

Social return

YorSpace is pioneering a revolutionary new approach to housing development. This approach involves combining community share investment with mutual property ownership, to provide a type of home ownership that is affordable in perpetuity.

The benefits of investing in community shares are considerable, for both investors and for community-led housing in York

  • By becoming an investor member, you will have a direct impact on the future of housing in York. By investing in democratic, not-for-profit development you can help shape housing development in the city. Investors can gear housing in their city toward the needs of the community, for the future, not just for profit for today. Thus making and keeping York a city that everyone wants to live in.
  • Community share capital is significantly cheaper than institutional lending from banks. By investing in YorSpace, YorSpace can pass those savings directly onto residents and create more affordable housing.
  • Long term community shares capital with a three year repayment holiday will allow YorSpace to focus on bringing forward their first development at Lowfield Green and plan for future projects
  • Community shares investment decreases the loan-to-value ratio that Lowfield Green Housing Co-operative (and subsequent MHO Societies) are able to borrow at, further reducing the cost of institutional lending
  • Investment through community shares will help build up reserves more quickly, compared with relying on long-term institutional lending. This means future projects can be brought on more swiftly.
  • Pioneering this first development at Lowfield Green will help YorSpace build a movement in the City of York and will propel them towards our long-term goal of bringing forward five more sites over ten years.

YorSpace has agreed the purchase of a site at Lowfield Green, Westfield, York, and has planning permission for their first development of 19 homes. This comprises a mixture of 1 & 2 bed flats, 2, 3 and 4 bed houses. 

Minimum investment amount

YorSpace are offering £50 shares, with a minimum investment of £250.

This minimum has been set to be low enough to attract as many individuals as possible to invest, without the Society being overburdened with administration costs. To raise their total target raise from £250 investments alone would require reaching 1,900 investors.

Maximum investment amount

YorSpace are offering £50 shares, with a maximum investment of £47,500 for an individual.

Their maximum has been set at 10% of their target raise to prevent over reliance on a small number of members and to increase the Society’s security against large withdrawals.

YorSpace will allow larger investments by institutions, but please get in touch directly to arrange this.

Getting invested money back

Shares are withdrawable by selling them back to the Society. The Society will buy back a maximum of 5% of the total share capital per year. There is a withdrawal holiday during the first three years of development. Withdrawal is subject to 3 months’ notice and is at the discretion of the Directors, especially if there are insufficient funds to make repayments. The Directors have decided that no monies can be withdrawn for the first three years to give the growing organisation some resilience and stability.

YorSpace is strongly encouraging investors to view their investment as being a long-term commitment to YorSpace CLT and are asking investors to leave their money within YorSpace for as long as possible. This will enable them to recycle capital to fund the pre-development cost of the next and future development.

YorSpace are asking investors to view this as a long-term investment, which may generate some financial benefits to you, and create a sustained social benefit to people in York over many years to come.

How secure is invested money?

Payment of interest and capital is not guaranteed and is dependent on the continued success of YorSpace's business model. This investment is not covered by the Financial Ombudsman and there is no deposit guarantee scheme for this product.

Keeping track of your investment

The details of your investment are recorded on your share agreement with the Society. 

Each year YorSpace will publish a set of accounts.


Voting rights are held solely by members. Any investor, no matter what size their investment is, will become a member of YorSpace CLT with one vote.

Nomination and Inheritance Tax

In the event of the death of a member, the repaid value of the shares will normally be added to the estate for probate purposes. You may elect to nominate a recipient for the value of the shares (but only up to the amount set out in law) and thus (under current legislation) remove the value of the shares (up to the amount set out in law) from your estate for probate purposes i.e. the shares may pass to the nominee outside the Will of the deceased. The nominated property will nevertheless form part of the deceased’s estate for Inheritance Tax purposes, unless the estate is an excepted estate.

YorSpace CLT shares would generally be expected to attract Business Property Relief at rates of up to 100% for IHT purposes, provided the shares have been held for at least 2 years.

YorSpace CLT will work with their Registrar to collect details of any nominees once the share raise has completed, and will contact new investors with relevant forms to be completed.

Who can invest

Individuals over the age of 16, charities, trust funds, Small Self Administered Pension Schemes, nominee services and corporate entities, groups and associations, and other organisations may invest in this offer. You cannot buy and hold shares on behalf of a child. Shares cannot be held in joint names.

Offer Closed

As of the 31st January 2019, this offer is closed

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