THE SHARE ISSUES THROUGH THE CROWDFUNDER SITE ENDS ON 31ST JULY 2017
We have already sold £45,000 of community shares, so we are making good progress as the match fund will add a further £45,000, giving us £90,000 in hand.
This does not mean that you have lost the chance to invest.
Your Board met on 24th July and decided to extend the opportunity to buy shares until the end of August 2017.
The ‘match funding’ from Power to Change will still be applicable for investment funds received during August, so your support at this stage could make a huge difference.
One of the reasons the Board decided to extend the period was that, at this time, we are unable to complete negotiations to purchase the pier with the current owner. As the primary use of this share issue funds will be for the purchase and commencement of initial renovations it seemed that an opportunity to generate further funds would be lost if we closed the issue at this time whilst financial negotiations were yet to be completed.
Our solicitor’s conveyancing searches established that some aspects of the pier need to be regularised with the Crown Estate before we proceed. These are not insurmountable problems but will take a little time to resolve. We will not, as custodians of your and Power to Change match fund money, purchase the pier without being 100% certain that we will own the entire structure. We are assured by our legal representative and the current owner that this can be resolved, but clearly this creates delays.
Your support in making this exciting project a reality is very much appreciated.
Own a part of this unique Victorian Pier
This is your opportunity to become an integral part of buying, renovating and restoring, the 122-year-old Shotley Railway Pier.
Built by the Marquis of Bristol in 1894 to convey the Royal Mail by ferry between Shotley Gate and Harwich the pier was a testament to the Victorian values of construction made to last.
Over the years the 600-foot pier, opposite the Bristol Arms, has been used to carry mail, munitions and many a sailor serving or training on the world-renowned HMS Ganges.
Sadly, it fell into disrepair around the turn of the 21st century and is in dire need of some love and attention.
A community group has been set up to purchase the pier, with the owner asking £100,000, and then carry out remedial repairs to the superstructure, and then make the pier itself into a working attraction where people can stroll, fish, and enjoy the amazing views down the Stour and across to Harwich and Felixstowe docks.
It is envisaged around £300,000 is needed in total to get the pier up and running to its former glory and there are many ways you can help us.