Thursday, April 03, 2003

I was absolutely thrilled to read that my local organic co-op the Unicorn, which was facing eviction and relocation when their landlord was considering selling to a developer (like south Manchester needs more flats!), has been saved by their customers. I had seen the notices asking for investors to help them make a counter offer, and would have loved to if I'd had the minimum £250 for a share. I was a bit unsure as to how successful they'd be, so it was amazing to read that not only did they raise their target £100,000 in a week, but the total invested grew to £300,000. This put them a strong position for making an offer and greatly reduced the amount of commercial mortgage they'd have to source, as well as interest to pay - you could choose anywhere from 0% to 6% interest for your investment, with many going for 0% and the average being 3%.

I occasionally get irritated at the ongoing gentrification of Chorlton (no Starbucks yet though, thank god!). I may also occasionally get irritated by *some* of the people who shop at the Unicorn - my 10 year stint at a veggie co-op cafe in Toronto has left me with very little tolerance for uptight vegans. But this has given me the warm fuzzies. This time, gentrification = disposable income = doing a very good turn.

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