Invest
Together
Invest
Create
Change
Our Aims
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Now that our offer to buy the Methodist Church has been accepted, raise £871,700 to cover the purchase cost, some basic refurbishment, and the initial costs of running the building as we start to generate income.
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Complete the purchase by 1st September 2024.
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Re-open as Otley Common on 1 September 2024 as a not-for-profit community benefit society run by people from Otley for the people of Otley. We want this project to be owned by the community and run in the interest of the community, so we will be launching a community share offer soon.
We have already secured £300,000 through the Community Ownership fund and another £35,000 from local donations. We now need your support and generosity to make our vision a reality by investing in the community share offer.
Help us raise £571, 700 to transform Otley Methodist Church into Otley Common, a much-needed hub for the community to meet, work & play.
How do I invest?
If you would like to invest online, select the button below.
If you would prefer to invest via cheque, then you will need to complete a form. You can complete the form online or print a form and return it to us. Cheques are made payable to "Friends of the Wesley Otley Limited".
You can also collect a form from the Methodist Church or we're happy to deliver a form to you if that makes things easier.
Once you have completed the form, please email us (hello@otleycommon.org) and we will arrange a time to come and collect the form or give you an address to send it to.
If you have any further questions, you can call Andrew on 07710488245.
Share Offer
Target Return:
(available from four years after the close of the share offer)
6.25% per annum
Minimum Raise:
£360, 500
Optimal Raise:
£571,700
Maximum Raise:
£763,713
Minimum Individual Investment:
(contact us if this is unaffordable)
£200
Maximum Individual Investment:
(or 10% of total shares issues)
£50,000
Opens:
7th June 2024
Closes:
31st December 2024
The board of directors of may choose to extend the period of the share offer, if we have not reached any of our fundraising targets by this date. Further information about this can be found in the "Your Investment" section of our business plan on page 30.
Community shares are a form of social investment.
They offer communities a chance to own shares in a local organisation. Community shares are withdrawable shares that cannot be sold, traded or transferred between members, unlike shares in a typical company.
Members can be paid interest on their shares, and also withdraw their shareholding, along with any interest they receive. This is subject to the approval of the board.
All members are entitled to one vote regardless of how many shares they hold.
What are community shares?
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
Societies are asked to sign a Code of Practice requiring them, among other things, to give the public a right of complaint to the Community Shares Unit. For more information about community shares, the Community Shares Standard Mark and the Community Shares Unit go to: www.communityshares.org.uk
Did you know you can invest on behalf of an organisation?
If you want to buy shares on behalf of an organisation, please complete and return the organisation form, alongside your payment.
Risk Statement
Community shares are a risk. You could lose some, or all, of the money you invest in this share offer, without recourse to the Financial Services Compensation Scheme or the Financial Ombudsman Service.
Share Offer Documents
Click here to view the full business plan for Otley COMMON
Business Plan
Click here to view the constitution and rules of Friends of the Wesley Otley Limited
Rules
Click here to view the share offer document and learn how you can invest in Otley Common