A new share issue has been launched by Rolle Exmouth Limited (REL) to raise funds to fully refurbish and reopen the Owen Building by using shares as matched funding to obtain grants. The capital raised will also support the first two years of trading and the promotion of further fundraising to secure additional areas of the site and extensions to the Owen Building facilities.
REL has obtained a licence agreement with the building owner, Plymouth University, to occupy and use the Owen Building, which has laid dormant and unused by the University for almost a decade. The immediate plan is to refurbish the building so it can be used as a shared work space and hub, as well as provide facilities for education and vocational training, hot-desk and meeting facilities, a theatre with performance and exhibition space and eating establishments.
Roy Pryke, REL deputy chairman, said: “We are urgently seeking funds to start the refurbishment of the Owen Building so it can once again be used for the good of the local community.”
The public can purchase between 10 and 4,000 shares priced at £5 each, Industrial and Provident societies can purchase in larger quantities. The share issue runs until March 25.
For more details please email email@example.com