RESIDENTS have come together to launch a community-led initiative to bring Stratford’s town centre buildings back into active use.
Stratford Regeneration, a newly formed Community Benefit Society (CBS), is inviting local people to invest from as little as £50 to help purchase and restore properties in the town, ensuring they remain in long-term community ownership.
The group is in the process of finalising Heads of Terms on its first project – 21 Greenhill Street.
The proposals for the building include reconfiguring the ground floor to create two smaller retail units aimed at supporting independent businesses and start-ups, alongside bringing the upper floors back into residential use, subject to planning.
The residential accommodation is intended to be delivered at approximately 80 per cent of market rent, with the aim of providing more accessible homes for local people.
A key principle of the project is to prioritise Stratford residents as occupiers and to use local Stratford-based businesses wherever possible in the regeneration process.
The project is structured as a subject to planning agreement, giving the Society six months to secure planning permission while continuing to raise investment locally.
James Brookes, director of Stratford Regeneration, said: “This is about local people taking a stake in the future of Stratford. We want to see buildings brought back into use in a way that supports local businesses, provides more accessible homes and keeps long-term ownership within the community.”
Fellow director Julie Crawshaw added: “We constantly hear complaints about buildings being left empty and slowly declining because out-of-town landlords only care about capital receipts. We see the buildings as a critical part of our community. By collectively having a stake in the very fabric of the town, locals will be able to effect real change.”
The Society has already begun receiving investment from residents and has passed its first funding milestone of over £5,000. It is now seeking to raise approximately £20,000 to fund the planning application for 21 Greenhill Street.
The initiative has also attracted early support from local stakeholders, with discussions underway regarding potential funding support, including Section 106 contributions and heritage-related funding.
Stratford Regeneration is a not-for-profit organisation, owned by its members and run on a voluntary basis. Investors purchase withdrawable community shares, with any surplus reinvested into further local regeneration projects.
Residents interested in supporting the initiative or investing from as little as £50 can visit www.stratfordregeneration.org.uk for more details.
