We agreed a purchase price of £150,000 which we think is a fair price for the building and land included. We will also need to raise sufficient funds to cover building renovation works of around £800,000 to bring the building back into serviceable state, including fit out costs for the use we envisage, and £146,000 set up costs, which include legal fees, administering the share offer, printing, and publicity, insurance, buying stock and running capital. We also have a shopping list of additional items which we would like to include in the scheme as and when we are able to raise sufficient funds. More detailed financial information is in the Business Plan. This is based on assessments via surveys and advice from a professional team of construction specialists and cost consultants, plus advice from existing traders.
To date, we have obtained grant funding from the Heritage Lottery Fund, Government Department Levelling up Housing and Communities’ match funded Community Ownership Fund and other sources such as McNair Trust totalling £210,000. This together with £189,000 from our fantastic Investors via the Community Investment Bond Scheme, totals £400,000 raised so far. Further funding applications are in progress and the Community Investment Bond Scheme remains open.
Having bought The Warehouse at a reasonable market value we have started the renovation works which already add further value to the building. This will ensure that any investment you make is as safe as we can make it. Remember, as with all investments, the value can go down as well as up. We will then kit out the building and launch the cafe and health and fitness centre, working with a business partner who will staff and supply the cafe, and a community group who have secured guaranteed bookings for the health and fitness centre. Further details are in the Business Plan.
TThe Wharf Marple Community Investment Bond offer has a minimum of investment of £100 and a maximum of £25,000 per Bond. You can invest any amount between those figures and be able to commit to keeping your investment for a minimum of 3 years. Please see full details located in the Investment Pack.
Investors may be eligible to claim tax relief and capital gains tax relief on their investment.
The share offer opened 1st August 2019. The closing date has been extended due to Covid-19 and will remain open until the full amount of funding has been raised. The Board reserve the right to extend the offer.
Full details of the Investment offer can be found in The Wharf Marple Investment Bond Pack.
To apply download the Application Form which can be found within the Investment Pack, complete the form, enclose your cheque made payable to The Wharf Marple CIC Ltd and return to The Wharf Marple to the address below.
Cheques will be held securely by Clarke Nicklin Chartered Accountants until the required level of funding has been reached, at which time the cheques will be presented to the bank for payment. Investors will be notified prior to presenting the cheques.
If you do not use cheques, send in your completed and signed Application Form stating the amount you wish to invest to the address below. The Application Form serves as your commitment to the transfer of funds as stated when the required level of funding has been reached - you will be notified when transfer is required.
Address: The Wharf Marple CIC Ltd,
C/O Clarke Nicklin Chartered Accountants
Cheadle Royal Business Park
Click on the image above to download a copy of The Wharf Marple Community Interest Company Limited Community Investment Bond offer document.
Click on the image above to download a copy of The Wharf Marple Community Interest Company Limited Business Plan.