Investors wanted for community projects in Portsmouth

INVESTMENT TEAM From left, Angie Robertshaw, Naomi Jones, Simon Frost, Kim Higgs, Louise Long, Nick Webb and Victoria Reid
INVESTMENT TEAM From left, Angie Robertshaw, Naomi Jones, Simon Frost, Kim Higgs, Louise Long, Nick Webb and Victoria Reid
Picture: Paul Jacobs (142476-229) PPP-140824-032155001

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A COMMUNITY financial institution is offering local people a way to directly help local projects.

The Parity Trust, based in North Harbour, Portsmouth, is tomorrow launching its community share offering.

Pompey fans will be familiar with the premise, as it was the way the supporters trust funded its takeover of the club.

However, Parity Trust wants to take it to the next level, and offer a way for all of Portsmouth’s community projects – such as the refurbishment of the New Theatre Royal, perhaps a community takeover of South Parade Pier, or the refurbishment of community housing, for example – to find funding.

The trust hopes to raise £250,000 with its community share offer.

Simon Frost, chief executive of the Parity Trust, said: ‘This is an exciting opportunity to invest in your community.

‘We are not a bank, but a unique financial institution that seeks to improve quality of life for individuals and families by investing in businesses and social enterprises, homes and community buildings.

‘Our mutual society is owned by its members and a great way for you to be involved in making things happen locally.

‘We can offer a financial and a social return, by investing in charities, social enterprises and vulnerable people through our housing work.’

The official launch of the share offer will be held at the Guildhall in Portsmouth tomorrow.

Portsmouth North MP Penny Mordaunt is supporting the offer.

She said: ‘Portsmouth is an incredibly entrepreneurial city and we need to find new ways of raising capital to invest in great ideas from the brightest and the best.

‘This community share offer will not only do that but also support the trust’s housing work.

‘As well as supporting good causes investors will get a return on their investment.

‘It’s a great idea and I am sure will be popular with investors who increasingly are looking for social value in the decisions they make.’

To find out more about the offer, and how to get involved, see paritytrust.org.uk/community-investment/community-share-offer.