Residents of Frome have a unique opportunity to become part-owners of the Saxonvale regeneration site through a newly launched community share scheme. The initiative, led by Mayday Saxonvale, aims to bring new life to the brownfield site in Frome town centre by developing over 260 homes, commercial spaces, a cultural centre, and a lido.
The regeneration project has faced several delays, and after funding challenges, Somerset Council’s executive committee decided in October to put the Saxonvale land on the open market in spring 2026. However, backed by central government funding, Mayday Saxonvale has launched a community share offer giving locals the chance to invest directly in the site and have a say in its future.
Mayday Saxonvale recently secured £1.2 million from the Resonance Community Developers Fund, supported by the Ministry of Housing, Communities and Local Government (MHCLG), to strengthen their bid when the land becomes available. The community share scheme, set to launch officially in late January 2026, allows local residents to invest a minimum of £250 through the new Mayday Saxonvale Community Benefit Society. Each member, regardless of investment size, gets one vote on how the project proceeds.
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Jon Rolls, head of developing communities at Resonance, emphasizes the importance of community ownership: “We support communities owning and developing local assets because it builds sustainable and resilient neighborhoods. We want affordable housing and community facilities to be owned by local people forever.” He urges the Frome community to embrace this once-in-a-lifetime chance to influence Saxonvale’s regeneration.
In November, Mayday Saxonvale submitted another offer to Somerset Council, seeking assurance that social and economic value would be prioritized alongside financial considerations in the site’s sale, though as of mid-December they had not received a response.
Brigid Clarke, chair of Mayday Saxonvale, highlights the significance of this project: “Saxonvale is Frome’s last major town centre site and will shape our town’s future for generations. We have overcome many challenges to protect this site for our community. The new funding arrangement now allows us to offer community shares, inviting residents to become co-owners.”
She warns that without community action, the site risks being sold to private developers focused solely on profit, with gains leaving Frome. “This is a once-in-a-generation chance to protect and shape our town’s future. Mayday’s community share offer will help keep value within our community and ensure residents have a real voice.”
Interested residents can learn more or register their interest at www.maydaysaxonvale.co.uk.
Somerset Council has been approached for comment on this initiative.