New Community Share Offer will provide more homes for vulnerable people in Cornwall
Mustard Seed Property (MSP) has launched an exciting new share offer, which seeks to raise funds to develop additional housing that will provide urgent support for vulnerable adults with learning disabilities.
The latest share offer follows the first successful raise of £300,000 in 2007, which enabled MSP to buy an old bed and breakfast property, which positively changed the lives of five families. Another share offer was launched in 2018, this time raising another £350,000 enabling MSP to buy an additional property in Redruth.
This time MSP is looking to raise £600,000 from individuals and organisations to finance converting the recently purchased property in Redruth (into 3 flats plus 3 studios, with an additional shared communal space) as well as to purchase a third property for a new partner.
The share offer has been given a considerable boost from the Architectural Heritage Fund, which has invested £50,000, helping us reach and surpass our minimum raise. We hope to secure further match funding as we reach further milestones, so that for every £1 invested, another £1 will be matched. Now is a great time to invest, because if you invest before 30 November, you will qualify to start earning interest from 1 December. Read more about this innovative match funding in the news release.
The offer is on Ethex investment platform, and full details and how to apply can be found by visiting the Mustard Seed Property section on their website.
Our community share offer has been awarded the Community Shares Standard Mark. The Community Shares Standard Mark is awarded by the Community Shares Unit to offers that meet national standards of good practice. These standards ensure that:
• The offer document and application form are easy to understand
• You are provided with all the facts you need to make an informed decision
• The facts are supported by the annual accounts and/or business plan for the society
• Nothing in the documents is purposefully incorrect, confusing or misleading.
Visit Community Shares Unit for more information about community shares and the Community Shares Standard Mark.
MSP is a charitable organisation with a track record as a robust commercial investor, having a decade of paying shareholders a financial return every year without fail and honouring all requests for withdrawal of funds by investors. So in addition to helping those who are less fortunate in Cornwall, investors could also benefit from a competitive target annual interest rate*. The minimum investment is £250.
Daniel Brewer, Director of MSP, said of the share offer “There are many people in Cornwall who have little ability to fend for themselves and are isolated from family or friends. Cornwall is their home and MSP was set up by people in the county intent on providing the right space for individuals who need it to flourish”
*Annual interest is paid at the discretion of the directors of MSP and is not guaranteed. You should remember that your capital is at risk.
Supporting documents available: