October Books says it’s raised just over 80% of its fundraising target, so has enough to buy the former NatWest bank building in Portswood – but unless it raises more by June 30 the dream could still be “just out of reach”.
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The Portswood Road bookshop wants the building to create a new base, and says it could also become a “true community hub”.
In an update, the co-operative said:
“Through a total of all the money already raised we're now at 80.8% which is £266,561. We have now raised enough to buy the building when we include the loan from cooperative and community finance.
"However we still need more funds for all the refurbishment costs, solicitor fees etc that we included into our financial plan and are essential for us to go through with our plans. Luckily for us because of a hold up by Natwest bank the purchase date has been pushed back. This means we've got an extension on our deadline, so we will be extending the loanstock deadline until the 30th June.
"We're so close, but without the extra funds needed for refurbishment costs our dream is just out of reach. Please continue to tell people about loanstock, or consider investing in loanstock yourself.”
Details about the shop’s loan stock are at www.octoberbooks.org/loan-stock/
