Residents of Frome now have a unique opportunity to become part-owners of the Saxonvale regeneration site through a newly launched community share scheme. This initiative is spearheaded by Mayday Saxonvale, aiming to transform the brownfield site in the heart of Frome into a vibrant hub featuring over 260 homes, commercial spaces, a cultural centre, and a lido.
The redevelopment of Saxonvale has faced multiple setbacks over recent years. In late October, Somerset Council’s executive committee decided to put the land up for sale on the open market in spring 2026, following Mayday Saxonvale’s challenges in securing sufficient funding to acquire the site.
In response, Mayday Saxonvale, supported by central government funding, has introduced a community share scheme designed to allow local residents and supporters to invest directly in the project. This approach empowers the community to have a voice and stake in Saxonvale’s future.
READ MORE: Bath Rugby Score Dramatic Last-Minute Try to Defeat Exeter Chiefs
READ MORE: Cash Stolen in Forced Burglary at Somerset Home
Key elements of the scheme include:
-
Securing £1.2 million from the Resonance community developers fund, which is supported by the Ministry of Housing, Communities and Local Government (MHCLG).
-
Launching the community share offer in late January 2026, enabling individuals to invest a minimum of £250 through the Mayday Saxonvale Community Benefit Society.
-
Granting each member a single vote in decision-making processes, irrespective of investment size, ensuring equal influence over the project’s direction.
These funding streams aim to provide Mayday Saxonvale with the financial strength needed when the council officially puts the site on sale next year.
Jon Rolls, Head of Developing Communities at Resonance, said, “We support communities in owning and developing local assets because it fosters sustainable and resilient neighbourhoods. Our vision is to create affordable housing and community facilities that remain owned by local people indefinitely. We hope the Frome community seizes this rare chance to shape their town’s regeneration.”
In November, Mayday Saxonvale submitted an enhanced bid to the council, emphasizing the need to protect public value and allowing time for community fundraising. They also requested clarity on how economic and social factors would be weighted in the council’s evaluation of offers but had not received a response by mid-December.
Brigid Clarke, Chair of Mayday Saxonvale, underscored the significance of the site: “Saxonvale is the last major town centre site in Frome and will influence its future for generations. Our community has persevered through numerous challenges to save this site. Previously, our funding couldn’t support community shares, but now, with £1.2 million secured from Resonance and MHCLG backing, we are inviting our community to become co-owners. Without swift action, Saxonvale risks falling into private hands with profits leaving Frome, which we have long sought to prevent.”
Community members interested in investing or learning more about the share offer can visit www.maydaysaxonvale.co.uk to register their interest.
Ms. Clarke added, “This is a once-in-a-generation opportunity for people-powered development that keeps value within our town and community. Together, we can protect and shape the future of Saxonvale and Frome.”
Somerset Council was contacted for comments by the Local Democracy Reporting Service.