A NORTH East grassroots music venue’s share offer has proved to be a big hit with £25,000 raised in a few weeks.

That means The Forum Music Centre, in Darlington, is already halfway towards its ambitious £50,000 target aimed at securing its future.

The Forum launched the share offer at the end of September to improve facilities, and give local music-lovers a say in how the venue develops.

Not only have more than half of the available shares been sold within just a few weeks, a new partner has come forward to match every penny raised until the end of the appeal.

Allison McKay, who has been Chief Executive of The Forum since 2011, said: “The response to our share offer has been absolutely staggering – we’re already halfway to our goal of selling £50,000 worth of shares in The Forum.

“Now we’re excited to announce that Community Shares Booster Fund , which is delivered by Co-operatives UK and partners, has offered to match the investment we raise. This is fantastic news, and we’re very grateful to them.

“We still have a couple of weeks to raise the remaining £25,000, and we would love this to be raised by people from our community, so we’re encouraging everyone who cares about live, local music to buy a share and be part of The Forum’s future.”

The revenue generated will fund a variety of improvements to the venue, including:

  • a new custom-built carbon net zero recording studio
  • a dedicated artist facilities and green room
  • a roof garden to the new facility
  • a kitchen extension and a new entrance
  • solar panel installation
  • an accessible mezzanine in the main hall

Investors over 18-years-old can invest from £50 to £2,500 to become a Forum shareholder and gain the right to vote on the venue’s leadership and future, while Under 25s can invest as little as £25.

The share offer closes on October 31, and shares can be purchased at the Forum, on Borough Road, or via its website.

“Anything we raise above the target will go towards Phase 2 of our redevelopment,” added Allison. “It will be invested in the venue, upgrading our heating system and replacing windows to ensure that the Forum maintains its place as a valuable part of the Darlington community.”