A COMMUNITY workshop space is at risk of closure unless it can raise £120,000 to buy the building it uses outright, according to its chair.

Basingstoke Makerspace, a non-profit community workshop and maker space, has occupied Maritime House, in New Road, since 2017.

However, the building has recently been put up for sale by its owner, meaning that the Makerspace could be forced to close unless they can raise funds to purchase the facility outright.

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Basingstoke Gazette: Basingstoke Makerspace

Steve Hawtin, chair of Basingstoke Makerspace, said: "The sale of Maritime House presents a significant challenge to the long-term sustainability of the Makerspace.

"Without a permanent home, we risk losing this crucial community resource. That's why we're turning to the community for support through this bond issue."

The group looks to raise £120,000 by selling bonds to members of the public, which will be repaid in seven years, with an annual six per cent interest rate, allowing the Makerspace to 'secure its future'.

The funds will then be combined with a £180,000 grant from the UK Government's Community Ownership Fund, which supports communities to take ownership of assets or amenities at risk of being lost.

"This bond issue is open to anyone, whether they are a current member of the Makerspace or not," continued Mr Hawtin.

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"We're hoping to rally the support of the local community and beyond to help us secure the future of this invaluable community asset."

Basingstoke Makerspace, which was founded in 2016, provides access to a wide range of equipment and tools including 3D printers, laser cutters, metalworking tools, and more.

The space is run by a team of dedicated volunteers, serving as a hub for creativity and innovation in the community.

To learn more about the bond, visit basingstokemakerspace.org.uk/bond2024 or ask to be added to the list of interest parties by emailing bonds@basingstokemakerspace.org.uk.