Mayday Saxonvale's Community Share Offer has passed a quarter of a million pounds in investments less than a week after opening to the public. More than 290 people have now invested over £271,350 towards the campaign to bring Saxonvale, a 12-acre regeneration site in the centre of Frome, into community ownership.
The offer, which opened to the public on 8 June, gives people the opportunity to buy community shares to help fund a competitive bid to buy and regenerate the town centre site. If successful, Saxonvale would become one of the UK’s largest and most ambitious community-led regeneration projects.
Mayday is aiming to raise a minimum of £1.5 million from the community alongside £1.2 million of secured social impact lending from Resonance. The proposals include around 260 homes, over 10,000 sqm of commercial and community space, workspace for local businesses, public spaces, riverside areas and long-term community ownership of key assets.
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Support independent eco journalism that drives real change.Unlike conventional development, Mayday Saxonvale Community Benefit Society is structured so that long-term value generated from the site is retained locally and reinvests back into the town for the long-term.
Anita Collier, Director of Mayday Saxonvale, former Mayor of Frome and the first person to invest, said:
“This is such an emotional moment for me. I’ve lived in Frome for over 60 years. I remember Saxonvale from my childhood, full of vibrancy and life. It’s my dream to bring that back to the site and to our town.
“I’m honoured to be the first person to buy community shares to help bring our town centre into community ownership and regenerate it for future generations.
“What has been incredible is seeing so many people immediately join us and invest alongside me. We have been completely blown away by the level of support already. It shows just how many people believe in what we are trying to achieve together, not just for Saxonvale, but for the future of our town and for communities everywhere.
“Wow what a legacy.”
Investment starts from £250, with individuals able to invest up to £50,000 and organisations up to £100,000. If the bid is unsuccessful or the target is not reached, investments are returned. The Society is targeting interest payments of 5% per annum, with investors eligible to request withdrawal of shares from Year 5, although returns are not guaranteed. Investors become members of Mayday Saxonvale Community Benefit Society on a one-member-one-vote basis regardless of investment size.
Holly Lawton, Director of Mayday Saxonvale, said:
“Communities across the UK have bought pubs, shops and football clubs for years. What we're attempting has never been done before at this scale. And reaching this milestone so quickly proves that we all want a different future for our towns. We are ready for a new way to develop, with long-term thinking that creates lasting benefits for our communities, rather than relying on short-term decisions driven by profit.
“This will only happen if enough people get behind it. If you believe in a better future for communities, we invite you to join us.”
The Community Share Offer is supported by £1.2m social impact funding from the Resonance Community Developers Fund, backed by the Ministry of Housing, Communities and Local Government.
Jon Rolls, Head of Developing Communities at Resonance, said:
“Resonance is proud to back Mayday Saxonvale because it represents a new generation of community-led regeneration – one where local people have a real stake in shaping the future of their towns and high streets.
“Across the UK, we are seeing growing momentum behind community ownership and locally rooted development models. Communities increasingly want regeneration that delivers long-term social, environmental and economic value, creating stronger and more resilient places. Mayday’s vision stands out because it combines ambition with local engagement, credible partnerships and a clear readiness to deliver.
“Our investment reflects confidence not only in the project itself, but in the principle that patient capital can help unlock transformative local change.”
The project is also backed by a wider professional team and partners including Stories, Studio Saar, Landstory and Frome Area Community Land Trust.
The share offer is now open on Crowdfunder and closes on 10 July 2026. Community shares are a high-risk investment. Please read all documents in full before investing. If you wish to find out more visit maydaysaxonvale.co.uk.
