Resonance is a social impact property fund manager, which in collaboration with our housing partners, utilises institutional investor capital to provide safe, affordable homes for people facing a housing crisis. We know that a home is key to health and wellbeing, but equally, we also know that strong communities are important to this as well. Projects that work with people locally, to provide the services they need, will enrich and help sustain communities, including bringing people together for a common purpose.

Our Resonance Impact Labs teams have a long and proud track record of supporting and investing in community projects, from affordable homes including self-build and refurbishment, to environmental projects including hydro, solar and wind. Some of these community projects have utilised investment from community share offers, which are a type of investment designed for individuals to be able to put their money to work, to purchase an income-generating asset that is needed by a community. They are used for many purposes including building affordable homes, renewable energy projects or any other community-led initiatives. They are open to everyone, aged 16 and over, often from as little as £100. A bond is similar, but with two key differences; your investment is tied up for a specified period and you are not a member, so have no voting rights. 

Community Shares/Bonds are high risk investments, are often illiquid, and your capital is at risk.   Community shares/bonds are not regulated by the Financial Conduct Authority (FCA), nor covered by the Financial Services Compensation Scheme (FSCS) nor the Financial Ombudsman Service (FOS).  

There are currently three impactful organisations that Resonance is working with to raise investment from community share/bond offers.

SUPPORTED HOMES FOR VULNERABLE ADULTS

The first is Resonance’ oldest repeat client, Mustard Seed Property (MSP). A community benefit society set up originally by parents of adult children with learning disability who wanted to provide them with a home for independent living. Resonance helped with that first share offer, which purchased their first property, which today is used by St Petrocs, a homelessness charity based in Cornwall. 

MSP has gone on to buy two more properties – one in Newquay, is home to eleven men supported by Newquay Lighthouse, who are living in a mutual aid community to maintain an abstinence based recovery. And the other property in Redruth, will be home to five autistic adults, sometime in the summer after refurbishment has been completed. This co-living space is aimed at giving adults with learning disabilities their own front door, in a mini courtyard development, so they can have greater control over their lives and enjoy them to the full.

MSP has big ambitions to deliver more properties to housing partners across Cornwall, which are supporting vulnerable people with learning disability, autism or mental health challenges. They aim to raise £1.8m in all, to acquire new properties for other community organisations and social enterprises that support the most vulnerable in Cornwall.  MSP has launched its third community share offer, hoping to raise £300,000.

COMMUNITY OWNED FARM

Stockwood Community Benefit Society is an organic, biodynamic farm and a sustainable business park majority owned and run by its community of over 400 members.

Stockwood is also one of Resonance’s oldest clients. We helped them with their first community share offer in 2014, which contributed significantly to the purchase of the original farm and business park, in order to bring it into community ownership in perpetuity.

With the share offer, Stockwood intends to grow its membership and repay an existing bank loan, unlocking the full potential of this community enterprise, including the launch of an education programme at Rush Farm. Stockwood is looking to raise £300,000 via a community share offer.

RENEWABLE ENERGY 

Resonance is no stranger to supporting local renewable energy projects – they have worked with many organisations over the years. Brighton & Hove Energy Services Cooperative, is the latest community organisation that is planning to instal solar panels on five schools in their locality. Our Developing Communities fund, Resonance Community Developers has provided a loan of £200k, alongside a consortium of philanthropic investors, to provide a total of £480k. This investment is enough to start work on the project. They have launched a Community Bond Offer, to raise £450k, out of which they intend to repay the bridging loan to the fund.  

For information, visit the Ethex website. 

Resonance is not advising investors to invest in community shares/bonds nor recommending particular community shares/bonds.  It is highlighting non-regulated work that it is doing with some community benefit societies. 

Community Shares/Bonds are high risk investments and are often illiquid and your capital is at risk.   Community shares/bonds are not regulated by the Financial Conduct Authority (FCA), nor covered by the Financial Services Compensation Scheme (FSCS) nor the Financial Ombudsman Service (FOS).