Fortunately, just as the community shop was having to leave its premises, the Old Co-op building came on to the market. The vendors allowed sufficient time for us to raise the necessary funds to purchase and convert the premises for our expanding needs. Fund raising accelerated and volunteers got to work, spending many hours applying for grants* and arranging ambitious fund raising events.
A prospectus for a share issue in Midgley Matters Association Ltd was prepared and the local community was invited to invest in redeemable shares, resulting in a total investment of £53,000, thanks to the generosity and community spirit of local people. An impressive total of £253,000 was raised through grants, redeemable shares and community fund raising events, allowing MMAL to purchase the Old Co-op and complete its conversion into a village shop and community room, with a large residential flat above. Midgley's community-owned premises were officially opened on Saturday 25th September 2010.
Fund raising continued and by September 2014, sufficient funds were available to fully repay the total investment of £53,000 in redeemable shares to the local community investors.
* For more information about grants, sponsors and fundraising, please see the fundraising page.
The shop has continued to trade successfully, staffed by an enthusiastic team of dedicated volunteers. Now one of the longest-running community-owned shops in the UK, which is a remarkable achievement, it provides a much valued service to the local community.