Enterprise plan for book building
April 10, 2007
<SPAN lang=EN-GB style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Councillors have agreed to turn a former book supply building on the outskirts of <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /><st1:place w_st="on">Dumfries</st1:place> into a £2.5m social enterprise venture. <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o:p></o:p></SPAN>
Author: BBC
BBC
10.04.07
Councillors have agreed to turn a former book supply building on the outskirts of
Officials had recommended the former TC Farries building be transferred for £1 to a not-for-profit organisation.
Planning and environment committee members were told it could have fetched £600,000 on the open market.
However, they decided to proceed towards creating a community-owned company to boost business in the area.
Generate employment
The non-profit organisation will provide a number of lettable workspaces.
Surplus rental income will be used to support new social economy projects and generate employment.
It is believed the project provides an opportunity to lever in significant sums of cash to support neighbourhood renewal activities.
The local authority’s contribution is to transfer the ownership of the building for just £1.