Homes for Hooky at Bourne Green
Play a vital role in addressing the local housing crisis, combating the climate emergency, and tackling the energy shortage.​
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We are looking to raise £500,000 from community shares to complete our affordable sustainable homes.
Share Offer Summary
Share Offer Opens: 20 th February 2024 Share Offer Closes: 20 th May 2024
Investment Type
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Withdrawable Shares
(£1 nominal value per share)
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Investment Limits
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Minimum Target: £300,000
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Maximum Target: £500,000
Investment Levels
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Minimum Individual Investment: £250
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Maximum Individual Investment: £50,000
Maximum Company Investment: £100,000
Interest
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Headline Rate: 6% (maximum Interest Offered)
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Optional Rates: 4%, 0%
Interest Credited
Interest will be credited annually as additional share capital from year three.
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Withdrawals
Withdrawal applications can be made from year five.
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Time Extensions
If our minimum target is not met by the closing date, the HNCLT Board may decide to extend the Share Offer for up to four months.
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If the maximum target is reached ahead of the closing date, the offer will be closed to further investments.
The total cost of the project is £3.7million and we have received £80,000 in grant funding. The affordable rented homes are being sold under a renewable 125-year lease to Soha Housing, an award winning, community-based, mutualised housing association working in and around Oxfordshire, and together with the sale of the four homes at market value, will raise a further £3.12million. HNCLT will retain the freehold of the entire site. The outstanding £500,000 needed to complete the project will be raised in this community share offer.
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Your investment will:
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Help take action against the cost of living and housing crises by creating permanently affordable rental homes in Hook Norton, where rents are increasingly unaffordable.
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Help tackle the energy crisis and climate emergency by creating an innovative smart microgrid, using renewable energy from the rooftop PV to power the homes, community building and associated Car Club.
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Help tackle social isolation by creating communal facilities that will include a co-working hub and rooms to rent.
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Support the community-led-housing movement that can be replicated around the UK, creating quality and affordable homes for the next generation.
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Earn a potential return. Investments in the share offer provide an annual interest of up to 6% (subject to withdrawal limits)
Any money you invest in Community Shares is at risk as there is no recourse to the Financial Services Compensation Scheme or the Financial Ombudsman Services. Please don't invest any money that you can't afford to lose.
Share Offer Hosting
Our Share Offer is being hosted on the Ethex platform. Please read our Ethex Information page to find out more about their registration process and how to invest.
As part of the registration process, you will need to complete a Risk Appropriateness Test to ensure that you understand the risks related to Community Shares Investments. You will then need to wait 24 hours before you can make your investment.
Please email hello@hooknortonclt.org.uk if you have any problems with the process.
Our Community Share Offer brochure has some FAQ's on page 28 that you might find helpful.
Our Community-led Project
We are providing eight new energy efficient homes, for affordable rent to people with a local connection to the area, and four new sustainable homes for sale at market value. The site also contains a communal building with facilities that will be shared by the wider community.
Please have a look at the information under the Project tab, where you can find out about the inspiring and innovative aspects of our community-led housing project, Homes for Hooky, to show how much can be achieved when communities work together with local councils, organisations, and practitioners, to build the homes that local people can afford to live in.
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Community Consultations were carried out to find out what was wanted by local people.
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Charlie Luxton Design transformed those ideas into a plan for 12 homes and a community building.
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Greencore Homes are constructing the buildings to their Zero Carbon standards.
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Hook Norton Low Carbon and SNRG are developing the innovative microgrid for the site.
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The Hooky Car Club vehicles will be charged and available on site for members to use.
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The Hooky Hub will be available as a co-working space.
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The following sustainable measure are all included in our project :
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68kWp solar photovoltaic panels on the roofs of both terraces.
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100kWh community battery to store surplus renewable energy.
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Smart Microgrid, providing a system to share the locally generated renewable energy from the 50kWp solar PV on the roof of the nearby Sports & Social Club along with the PV on the roofs of the homes.
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Mechanical ventilation with heat recovery (MVHR).
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Low embodied energy and CO2 materials.
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Shared growing spaces and a community greenhouse.
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Electric vehicle charging points.
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A shared car club with six electric vehicles.
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Environmentally friendly landscaping with native plants to encourage biodiversity.
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A communal building with a self-contained spare bedroom, meeting room, and co-working space to share with the wider community.
We invite you to invest in our share offer and join us in witnessing the transformative impact that this project will have on members of our local community. Your investment not only supports the initiative but also enables you to be a part of the journey as residents move into the innovative homes they actively contributed to creating.
The Site
Bourne Green is accessed via Cascade Road, a recent development on the Northern fringes of Hook Norton and has additional pedestrian access from The Bourne, to the South of the site.
