Jubilee Pool Penzance
Jubilee Pool Penzance (JPP) is a Community Benefit Society that operates Jubilee Pool, which is widely considered to be the best example of a pre-war lido in the world. It’s a remarkable facility providing safe seawater bathing for all ages; a unique modernist building of international architectural importance; a tourist attraction in its own right; and now, it’s set to provide a catalyst for the future economic regeneration of Penzance.
The share offer provided the final piece in the funding jigsaw. The project is to drill a geothermal well to allow the Pool to be enjoyed by everyone, all year-round, making it a sustainable community business.
JPP applied for £100,000 Booster investment. The Booster Panel were inspired by the application but before awarding investment the project received additional Booster support from a Locality Development Officer, to visit the site and work with the JPP team on the business's forecasts and expenditure plans.
The share offer went on to be a huge success, raising £538,680 from over 1,380 community investors and £100,000 from the Booster. By the time the share offer closed on 28/10/2018 it had also received equity investment from Big Society Capital.
Community shares are an important part of the funding mix of this inclusive project, which allowed investments from as little as £20.