Volunteers' and supporters have six months to raise the money needed to bring a Bristol cinema and creative arts venue into community ownership.
The Cube Arts Centre and Cinema was founded almost 15 years ago and with the lease set to expire, its supporters have until 31 December to put their 'art' and soul into fundraising to find the remaining £140,000 needed to buy the building.
With support from the Co-operative Enterprise Hub a community benefit society has been set up to safeguard the community art space for future generations.
Established as a community land trust – a not-for-profit organisation committed to safeguarding the asset for community benefit - volunteers' aim to conserve and renovate the building, improve access and expand its potential as an amateur arts venue for cinema, music, theatre, education, performing arts and community activities.
A purchase price of £185,000 has been agreed with the landlord and almost £45,000 has been raised so far through donations and fundraising events.
Volunteer, Lesley Smith, said: "The Cube has always been proudly independent. Volunteers work to present cinema, music, amateur film-makers nights, children's events, performance art, comedy and many other events with any money made used to fund the centre.
"We now have a chance to secure the centre for the benefit of its users, artists, cultural partners and the whole community. It will involve a huge amount of hard work to realise the dream but, The Cube's history is strewn with challenges and this is one that its volunteers and supporters are truly relishing!"
There has been a near 25 per cent increase in UK co-operative enterprises since 2009 and The Co-operative Group, the UK's largest member-owned organisation with over seven million members, has committed a further £1m this year to developing The Co-operative Enterprise Hub – a free service that has supported the creation and growth of over 1,000 community-owned enterprises since 2009.
Michael Fairclough, the Co-operative's head of community and co-operative investment, said: "Co-operation can be key to safeguarding much-loved local assets. Communities working together are a powerful catalyst for change capable of overcoming many of the challenges facing today's society, environment and economy"
For more information about fundraising activities and plans to bring the Cube into community ownership visit their website.
For more information about co-operative solutions to the running of businesses and services contact The Co-operative Enterprise Hub.
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