A landmark building with a colourful past has hopes of a bright future thanks to a newly formed co-operative that will enable budding music moguls to co-own the venue.
Built in the 1880s, Unity Hall in Wakefield was originally home to the Wakefield Industrial Co-operative Society, but has since played host to a range of events from silent movie screenings to Iron Maiden concerts.
Now, with the support of The Co-operative Enterprise Hub, a new co-operative has been registered and a community share issue launched to restore the hall, re-establishing it as a major venue for entertainment and enterprise.
The scheme will cost £4.4million in total. Unity House (Wakefield) Limited – the new co-operative enterprise charged with the project – hopes to attract hundreds of members and raise the £200,000 needed to carry out initial survey and pre-construction work.
The aim is to redevelop Unity Hall, much of which has been disused for over a decade, into a workspace that mixes business with music, theatre, exhibitions and meetings. Plans include; a 650-seater venue, an 80-seater function room, 12,000 square feet of office space, 3,500 square feet of meeting space, a café, an exhibition space and independent retail opportunities. It will also offer a creative hub for entrepreneurs.
The building was extended in 1909 and became an important venue for entertainment and education. In the early 1980s it briefly became a rock venue with acts including: the Eurythmics, Def Leppard, Iron Maiden and The Specials.
Recent economic troubles have highlighted the benefits of the member-owned approach to enterprise with the co-operative sector outperforming the UK economy as a whole, growing by 21% since the start of the financial crisis in 2008.
The Co-operative Group, the UK's largest member-owned organisation with 6 million members, is at the forefront of the resurgence of the co-operative business model. The organisation has committed an additional £6million between 2012-14 to develop The Co-operative Enterprise Hub, which offers free advice and guidance, and has supported the creation and growth of over 700 member-owned enterprises since its launch in 2009.
Michael Fairclough, The Co-operative Group's head of community and co-operative investment, said: "The co-operative business model has been described as an old solution to a modern problem. Fundamentally it gives people a voice, a say in how services are delivered.
"The model is being increasingly adopted and is a robust approach to enterprise that is contributing to the re-building of a more balanced and sustainable economy."
Chris Hill, a founding director of the co-operative behind the plans, said: "Co-operation is all about working together to make things happen for the benefit of its members and society and it is our aim to develop a creative space that the community can call their own and be proud of. We are particularly excited that during this International Year of Co-operatives, it is a community co-operative that is reinvigorating this former HQ of the Wakefield Industrial Co-operative Society.
"By restoring Unity Hall to its former glory we can develop a vital new hub for the city. The regeneration work aspires to give Wakefield a nationally acknowledged music, theatre and arts venue, a thriving conference centre and provide a hot-bed for new business innovation."
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