A north Northumberland development trust has had a surprising start to its latest scheme to provide much-needed affordable housing in the village.
Ten days after the launch of Glendale Gateway Trust’s Community Bonds scheme, it had sold £9,000 worth of bonds – but also received £12,000 in donations from the public.
“We hadn’t expected donations, though they are of course most welcome,”said Trust chairman Patsy Healey.
“Clearly there are generous local people who appreciate what we are trying to do with our plans for affordable homes in Glendale.”
The Trust plans to provide five flats in the former Wheatsheaf hotel building in Wooler, plus another four when they convert the former Abbeyfields home for older people off the High Street.
The Nigel Vinson Charitable Trust had already donated £40,000 towards the cost of buying the Abbeyfields building, also known as West Mansfield House.
Wooler Parish Council is planning to lend £30,000 from the Archbold Trust, initially at zero interest, towards the cost. Once built the council will be paid four per cent interest on the money – paid for out of income from rents – which will help fund local projects in the town.