Time running out as Mayday Saxonvale share offer passes £715,000 ahead of bid deadline

Daisy Steel
1 day ago
3 min read

The campaign to bring Frome’s Saxonvale site into community ownership has passed £715,000 as the deadline approaches for bids to buy the land.

The 12-acre brownfield site, described by Somerset Council as one of the county’s most significant regeneration opportunities, is currently on the open market, with Mayday Saxonvale competing alongside potential property developers.

Somerset Council has extended the deadline for bids until Monday 13 July, giving interested parties extra time to submit their proposals.

Although supporters will still be able to contribute to the Mayday Saxonvale campaign until September, organisers say every pledge made before Monday will help strengthen the bid and demonstrate the scale of community support behind the project.

Community bid gathers momentum

The site had previously been set to become a flagship example of community-led development after the council unanimously agreed in January 2024 to sell it to the not-for-profit group Mayday Saxonvale.

However, it was later returned to the open market after the council said previous approaches had “not delivered a viable outcome”.

Somerset Council leader Cllr Bill Revans said the authority had a duty to secure the best outcome for residents.

“A transparent, competitive process is now required to protect the public interest and enable the delivery of a scheme that supports the long-term vitality of Frome town centre,” he said.

Mayday Saxonvale says the huge response to its community share offer means it is now in a position to submit a competitive bid, with more than £715,000 raised towards its £1.5 million target.

The Community Share Offer, which allows residents to become co-owners with a minimum investment of £250, has now been extended until the end of September while Somerset Council considers the bids.

Supporters are also finding new ways to make the campaign more accessible, with some forming syndicates so people who can’t afford a full share individually can still contribute collectively.

Local resident Chris Davies said their village had come together after seeing others doing the same.

“We’ve chipped in as a collective to enable participation for those of us who’d like to invest in the Mayday Saxonvale project but can’t afford a share individually,” Chris said.

“Frome is on our doorstep and is such a valued part of our lives. This feels like a pivotal moment in its history and a real opportunity to make a tangible, lasting difference for generations to come.”

Mayday Saxonvale said: “Every pound invested before we submit our bid on Monday makes our bid stronger. Every new investor strengthens our position and demonstrates the scale of community backing behind our proposal.”

Fire renews focus on Saxonvale

The latest milestone comes just days after a major fire broke out at a derelict building on the Saxonvale site.

Fire crews from Devon and Somerset Fire and Rescue Service were called to the blaze earlier this month.

The fire service said the western warehouse suffered 80 per cent fire damage and 100 per cent smoke damage. Investigators believe the blaze was started deliberately.

Avon and Somerset Police have confirmed they are treating the incident as suspicious.

Somerset Council said it did not believe the fire would have a “material impact” on the sale or redevelopment of Saxonvale.

For many residents, the fire has highlighted the urgency of finding a long-term future for the prominent town centre site, which has been the subject of debate for many years following the collapse of previous plans and continued frustration over delays.

Vision for the future

Mayday Saxonvale says its community-led approach offers something different from a traditional developer model and gives local people a chance to have a stake in shaping the future of Frome.

The group’s vision for Saxonvale includes 263 homes, with at least 30 per cent affordable housing.

Plans also include 10,000 sq m of commercial and community space, an enterprise centre, community kitchen, cultural centre, riverside park and play area, as well as a hotel, spa and lido.