Frome residents have an exciting opportunity to directly invest in the regeneration of the Saxonvale site through a new community share scheme. Mayday Saxonvale, the group behind plans for this prime brownfield site in the town centre, envisions creating over 260 homes, commercial spaces, a cultural centre, and a lido.
Despite numerous delays and funding challenges, Mayday Saxonvale has secured £1.2 million from the Resonance community developers fund, backed by the Ministry of Housing, Communities and Local Government (MHCLG). This funding forms the foundation of a community share scheme launching in late January 2026, allowing local people to become part-owners of the site.
Each investor must put in a minimum of £250, but regardless of investment size, every member of the newly formed Mayday Saxonvale Community Benefit Society receives one vote on the project’s direction. This democratic approach ensures that community voices guide the site’s future development.
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Somerset Council had previously decided to put the Saxonvale site on the open market by spring 2026 after Mayday Saxonvale struggled to demonstrate sufficient funds for acquisition. However, the combination of the government-backed fund and community investment aims to provide the necessary capital to secure the site.
Jon Rolls, head of developing communities at Resonance, said, “We support communities owning local assets because it makes them more sustainable and resilient. We want affordable housing and community facilities owned by locals, now and forever. We hope Frome’s community seizes this once-in-a-lifetime chance to shape their town’s regeneration.”
Mayday Saxonvale Chair Brigid Clarke emphasized the importance of acting now: “Saxonvale is Frome’s last major town centre site and will influence our community’s future for generations. We have overcome many setbacks, and with this new funding and share offer, we invite our community to co-own this vital project. Without action, the site risks falling into private, profit-driven hands, with profits leaving Frome – exactly what we have fought to prevent.”
Somerset Council remains committed to viable, community-beneficial development and acknowledges the ongoing efforts with Mayday Saxonvale. The council has withdrawn exclusivity rights previously held by Mayday, opening the site to other potential purchasers and an open market sale expected to begin soon.
For those interested in joining the community share scheme or to register their interest, details are available at www.maydaysaxonvale.co.uk. This people-powered initiative offers a rare chance for residents to protect and shape the future of Saxonvale and Frome itself.