Revitalising Looe: The Transformation of Coastguard Flats

In an ambitious move to revitalise a piece of Looe’s heritage while addressing local housing needs, the community is rallying to save and restore the historic Coastguard Flats on North Rd.

This Grade II listed building, owned by the Council and situated in the heart of West Looe, stands on the brink of a transformative journey aimed at offering locals a chance to secure a home at an affordable rent.

A Beacon of Community Effort

The project, spearheaded by Three Seas – Looe Coastguard Flats, is not just about refurbishment but breathing life into buildings that have long stood vacant. Despite their prime location and solid basic structure, the flats have suffered from neglect, with their interiors in dire need of rejuvenation. The initiative is set to convert these 11 small flats, a mix of one-bed and two-bed units, into comfortable, energy-efficient homes that locals can afford.

An Investment in Local Heritage and Community

With a successful track record in similar projects, like the revitalisation of old Coastguard houses in Cawsand village, the team behind this effort understands the impact of such projects on local communities. They’ve secured an agreement with the Council to purchase these flats for a nominal £1, allowing them to channel investments directly into high-standard refurbishments.

Why Your Support Matters

This project is a call to action for those looking to make a tangible difference in their community. By investing in the Coastguard Flats, contributors are not just offering financial support but are becoming part of a movement towards sustainable, community-focused living. With an investment range of £100 to £25,000, everyone is welcomed to contribute, ensuring that every supporter, regardless of the investment size, has a voice in this community endeavour.

Investors are offered up to 3% annual interest, with the flexibility to withdraw their investment once the project is fully operational. The aim is not only to provide immediate benefits to the local population but to establish a self-sustaining model that serves as a permanent asset to Looe.

A Call to Action

The share offer, which opened on 23rd March 2024, will close on 3rd May 2024. The project seeks to raise between £250,000 and £500,000 to bring this vision to life. It’s a unique opportunity to invest in something that promises not just financial returns but a chance to be part of a lasting legacy in Looe.

As the community comes together to support this endeavour, the Coastguard Flats project stands as a testament to what can be achieved when heritage preservation meets modern community needs. Together, the people of Looe are set to make a significant impact, ensuring the town remains a vibrant, welcoming place for generations to come.

Find out more here – https://www.threeseas.org.uk/invest