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 The Directors have decided that no monies can be withdrawn for the first three years to give the growing organisation some resilience and stability.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.