We’ve secured £1.2m government-backed funding for our revised bid for Saxonvale
We’ve secured £1.2 million funding from the Resonance Community Developers Fund, backed by the Ministry of Housing, Communities and Local Government.
Together, with our Community Share Offer, will fund our bid to Somerset Council for the Saxonvale site when it comes to the open market at the end of February 2026. If successful, this will bring the Saxonvale site into permanent community ownership.
“Resonance supports communities to own and develop assets in their local neighbourhoods because we believe this helps communities to be more sustainable and resilient.
We want to see affordable housing and community facilities that are owned by local people forever. We hope that the community gets behind this once-in-a-lifetime chance to steer the regeneration of Frome.”
Jon Rolls, Head of Developing Communities, Resonance
About Resonance
Resonance is a UK social impact property fund manager with more than two decades’ experience in connecting capital to social enterprise. Founded in 2002, Resonance has built a strong national reputation for delivering impact-led investment that tackles urgent social challenges – including homelessness, housing insecurity and economic inequality. The organisation is B Corp certified and works alongside institutional investors, expert housing partners and community-led organisations to shape innovative, resilient solutions that put people and place first.
About the Resonance Community Developers Fund
The Resonance Community Developers Fund is a dedicated impact investment fund supporting community-led development. It backs the delivery of long-term local assets such as affordable housing, sports and leisure facilities, and renewable energy generation, helping communities build resilience, retain value locally, and drive sustainable regeneration over the long term. The fund primarily invests in Community Benefit Societies and can support projects from inception to delivery – including feasibility, land acquisition and development finance. It is already investing in community projects in Cornwall, Gloucestershire and the North West, with further expansion planned.
The fund is backed through the Ministry of Housing, Communities and Local Government (MHCLG), demonstrating national confidence in the role of community-led development as a driver of affordable housing, social infrastructure and local growth. This government commitment has reinforced the fund’s capacity to scale.
Be part of what happens next
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Our investment partner Resonance
About the Resonance Community Developers Fund