Buy shares in Unity House

Chris Hill from Shine who are looking to take over Unity House
Chris Hill from Shine who are looking to take over Unity House

A COMMUNITY group, determined to re-establish Unity House as a major entertainment venue and hub for the city’s entrepreneurs, is issuing shares in the project.

Community cooperative {|Unity House|Unity House}

Wakefield Ltd will launch a community share issue to help finance the transformation of the historic building next month.

The group has drawn up plans for a 650-seater venue, 80-seater function room, 12,000 sq ft of office space and a 3,500 sq ft meeting space at the building.

The group is working with regeneration organisation Shine to secure £4m in funding.

The share issue will raise £200,000 to pay for development work to get the project up and running.

Individuals and organisations can buy up to £20,000 in shares, with a minimum of 200 shares for £200.

A dividend of around 6 per cent per annum is planned after three years of trading and members will also be celebrated in a piece of public art within the building. Other benefits include priority booking and event information.

Michael Fairclough, The Co-operative Group’s Head of Community and Co-operative Investment, said: “The co-operative business model has been described as an old solution to a modern problem. Fundamentally, it gives people a voice, a say in how services are delivered.

“The model is being increasingly adopted and is a robust approach to enterprise that is contributing to the re-building of a more balanced and sustainable economy.”

More information on the plan will be given at the event on Tuesday, February 7 at The Orangery, on Back Lane, from 5pm-6.30pm.

Tours of the building will also be held on Saturday, February 11 at 11am, Tuesday, February 14 at 11am, Saturday, February 25th at 2pm, Saturday, March 10th at 11am and Wednesday, March 28 at 6pm.

Chris Hill, director of development for Shine, said: “A lot of people don’t actually know what the building looks like inside so we thought we would give them a look at the potential of the building.”

For more information, telephone Mr Hill on 0113 3880000 or log on to www.unityhall