It’s the big ROLLE out!

PUBLISHED: 11:34 09 February 2012

The Owen Building at Rolle College

The Owen Building at Rolle College

Archant

IT is crunch time for the town-driven Rolle Centre - and its future depends on £500,000 being raised over the next six weeks.

Roger Staker, managing director of Rolle Exmouth Ltd (REL), said that share take-up, earmarked for the end of this month, would determine if the former college campus had a future as a £3.5million business, education and community hub.

He made the comments at a public meeting at Exmouth Pavilion, which was packed by hundreds of people who pledged their support to the community venture.

The first share issue is the culmination of two years of hard, backroom negotiations between not-for-profit company REL, set up by residents, and site owners Plymouth University in a bid to retain the ‘best half’ of the 13,000sqm site for the community.

It follows Rolle College’s closure in 2008 after 70 years.

Mr Staker said he hoped that the first share issue would be at the end of February, over a limited four to six-week period.

Each share will cost £5, with a minimum investment of £100 and a maximum investment of £20,000.

The £500,000 will pay for the recommissioning of the buildings on the 7,000sqm site.

Some buildings date from the 1960s and work is needed on the plumbing, heating and electrics, creating jobs for local tradespeople over two years.

The first buildings, however, could be open for use by the autumn.

Mr Staker said: “To be prudent and transparent, the business plan has been built on a foundation that does not include taxpayer subsidy.

“We want to make sure the Rolle Centre can stand and develop on its own.

“This project is now at a point of simple truth; if we raise enough money as a result of the share issue, we can begin to execute the business plan and get the Rolle Centre up and running.

“If the share issue does not raise enough money, the Rolle Centre will be unable to progress.”

REL will pay £50,000 in rent each year up to 2015, totalling £150,000, before buying the site for £2.85million.

REL chairman Roy Pryke said: “We are delighted that the pavilion was packed with residents who are more determined than ever to see this project succeed and have pledged their support.”

Go to: www.rollecentre.org

0 comments

Other News Stories

A weekly class, inspired by a pensioner who is learning to read for the first time, has been launched in Exmouth.

Read more
Yesterday, 14:42

‘Be alert, not alarmed’ is the message coming from police in the wake of the attack in Westminster yesterday (Wednesday)

Read more
Yesterday, 14:24

Behind the lens with Exmouth based photographer - Brian Frost.

Read more
Yesterday, 12:47

Landlords are being urged to come forward if they have family-sized properties that could be used to house vulnerable Syrian refugees.

Read more
Yesterday, 12:30

Exmouth’s new M&S Foodhall is opening its doors to customers next week.

Read more
Yesterday, 09:41

An Exmouth fire crew was called out to free a child locked in a car in Budleigh Salterton yesterday.

Read more
Yesterday, 09:27

Devon and Somerset Trading Standards has warned businesses to be on the lookout for a tool sharpening scam.

Read more
Wed, 15:55

On this week in 1944.

Read more
Wed, 15:04

An Exeter based ecology business has discovered a rare species of bat roosting in East Devon.

Read more
Wed, 14:13

The results of a survey of visitors to Exmouth, carried out last summer, have been published.

Read more

Local Weather

Overcast

Overcast

max temp: 9°C

min temp: 6°C

Most Read News

Useful Links

Advertise in the Paper
Submit a Story
Subscriptions Order
Competitions
Photo Orders
Family notices
iwitness24
Google Plus
Facebook
Twitter
Reader Travel

Family Notices 24

Read Online

Image
Read the Exmouth Journal e-edition E-edition

Newsletter Sign Up

Sign up to receive our regular email newsletter

Local business directory

Exmouth's trusted business finder

HOT JOBS

Show Job Lists


Find planning applications