Mayday Saxonvale has partnered with Frome Area Community Land Trust (FACLT) for the development of Saxonvale, where FACLT will take ownership of the site’s freehold.
By retaining the freehold, the CLT will act as the land custodian, providing security over community ownership of the site, reflecting the community-led approach of Mayday’s scheme.
FACLT will be custodians of the whole site during development and will retain the freehold of the affordable homes in perpetuity.
Since the withdrawal of Acorn’s bid, both organisations have been working together to strengthen their partnership now that Somerset Council has initiated further discussions for the potential purchase of the Saxonvale site.
Chair of FACLT, John Sebastian Clarke, said, “Collaborating with Mayday, a developer who shares our values and aspirations, will help fulfil our core mission of providing genuinely affordable homes. Crucially, FACLT will own the freehold of the social rented homes. This means these homes are secured for the community in perpetuity and are not subject to the Right to Buy.
“Furthermore, owning the freehold will generate income that guarantees future financial stability for FACLT; income that will enable the growth of our organisation, creating opportunities to provide much-needed, genuinely affordable housing for our community and those most in need.
“The FACLT board of directors was of course extremely disappointed at the decision taken by Somerset Council to accept a higher bid from Acorn Property Group, but are delighted that we are now entering into positive discussions with Somerset Council. We hope together we can achieve a satisfactory outcome for both Somerset and our community of Frome.”
The Mayday Saxonvale plan will deliver 263 homes, including at least 30% affordable homes with a target of 50%, plus 10,000+ sqm of commercial and community space, new public spaces, a riverside park and playground, a hotel and a lido.
Paul Oster, Mayday director, said, “As recognised by Acorn, a scheme of this size and strategic importance cannot proceed without a strong level of community support. Bringing our local community land trust into our proposal for Saxonvale solidifies our commitment to putting Frome first and provides additional security over the community ownership of the site.
“We are excited about what this will mean for FACLT, enabling them to expand their resources and capability to deliver more for Frome. FACLT has begun to increase their memberships through our partnership, which we hope will continue to grow and strengthen through this process. This is just the start as we look to invite local groups and individuals to contribute to the development and enhance what it can mean for our town.”
FACLT is actively recruiting new members and volunteers, if you would like to find out more information and how you can become involved, please visit: https://fromeareaclt.org/
