Lewisham's first community owned live music pub!

by Sister Midnight in London, Greater London, United Kingdom

£48,550

£500,000 target 63 days left
9% 191 investors
This project will only be funded if at least £500,000 is pledged by 20th December 2021 at 5:00pm

Sister Midnight is a not-for-profit organisation on a mission to create Lewisham's first community-owned live music pub #SavetheRavensbourne

by Sister Midnight in London, Greater London, United Kingdom

Welcome to our community share offer. We're offering our community the chance to invest in our proposal to bring the Ravensbourne Arms pub in Lewisham into Community Ownership, transforming it into a not-for-profit grassroots live music pub. 

Our mission at Sister Midnight is to create an accessible, affordable and inclusive grassroots music venue and community pub, where people can come together and enjoy the best of South East London’s diverse and cutting edge music culture.

The challenges faced by grassroots music venues, most notably the recent COVID-19 pandemic, have made it clear as day - if we want to make sure that there will still be places to experience live music, then the communities that use these venues need to have ownership of them. That’s why we’re asking our community to invest in Sister Midnight, and help us create Lewisham’s first community owned live music pub.

When you invest in shares you’ll become a member of our society with voting rights, giving you a say on how things are done. You’ll also become an owner of the society's assets alongside other members, meaning you could become a co-owner of the Ravensbourne Arms.

It’s time to protect our music venues, so let’s work together as a community to save the Ravensbourne Arms, and create a truly grassroots space where we put local music and local people at the heart of what we do.

- Lenny, Sophie and Verity, Founders of Sister Midnight 

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Sister Midnight's Community Share Offer

Sister Midnight wants to bring the Ravensbourne Arms into community ownership and seeks to raise a minimum of £500K in share capital, with the rest of the project costs being raised through grants and commercial loans.

  • Minimum share subscription per person: £100
  • Maximum share subscription per person: £100,000 or 10% of the total raised, whichever is lower
  • Maximum share subscription per organisation (which is not a society): £100,000
  • Interest of 3% paid annually from year 2 onwards
  • Withdrawal of capital targeted from year 3 onwards
  • Minimum Target to be Raised: £500,000

Opening date: 6th September 2021 - Closing date: 20th December 2021. 

We're also making a limited number of affordable £25 shares available to those on low incomes to ensure that everyone has a chance to become a member of our society and be a part of the Ravensbourne Arms. If you'd like to be considered for an affordable share, please send us an email to [email protected]

What happens if we don't meet our target?

If we don't meet our target, Crowdfunder will hold any funds raised for a short time to allow us to look for other sources of funding that could make up any shortfall. If we cannot proceed with the project for any reason, then all pledges would be refunded in full.

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Our Vision

We want to transform the Ravensbourne Arms into a thriving community live music pub; serving locally produced ales and a classic Sunday lunch, as well as delivering a diverse and cutting-edge live music programme. Building upon Sister Midnight’s legacy, we’ll continue to provide a vital platform for emerging talent, championing the trailblazing local music scenes that have cemented Lewisham’s cultural status in recent years. 

The Ravensbourne Arms will be more than just a live music pub. We’ll make it a true community hub, working to further social good and positive change in the wider community, guided by our core organisational values of accessibility, affordability, ethics, fair pay, inclusivity, ownership, and sustainability.

With Lewisham having been designated “London Borough of Culture 2022”, there has never been a better time to create a space for Lewisham’s music culture to thrive and grow, and bring our community together in celebration of the incredible creative talent that our borough is home to.

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“As the MP for Lewisham Deptford I am pleased to support Sister Midnight's project to take over the Ravensbourne Arms as a Community Benefit Society.

This is such an amazing opportunity to revive a currently unused venue in a way which puts the community it is based in at its heart and provide exciting cultural opportunities which are accessible for local residents.

I am also happy to see such a great project lead by young women,
who are too often not at the forefront of projects like these”

Vicky Foxcroft, MP for Lewisham Deptford

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About Us

Sister Midnight was established in 2018 as a grassroots music venue, record shop and cafe based in Deptford, South East London, providing a vital platform for emerging musical talent, and a place where people from all walks of life could come together in celebration of South East London’s music culture. We quickly became an important part of our thriving local music scene, attracting a diverse array of acts and regularly selling out shows. 

Unfortunately, the challenges presented by the COVID-19 pandemic forced us to leave our space in Deptford, in search of a new home. Grassroots music venues are more likely to succeed when they are owned by the communities they exist in. This is why we want to create Lewisham’s first community owned live music pub, and create a culturally important space that will be sustainable long-term. 

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The Ravensbourne Arms

Located just south of the bustling Lewisham Centre, the Ravensbourne Arms is a detached public house built in 1934, although there has been a public house on this site since the 1750’s. 

The Ravensbourne Arms has thrived in the past, having previously been a Time Out Pub of the Year finalist. Sadly, the pub closed in 2016 after it was sold to private property developers who intended to convert the site for residential use. Although the upper two floors of the building have been converted into seven flats, Lewisham Council have declined to grant planning permission for a change of use, citing the community importance of the pub as a factor in this decision.

We want to buy the freehold of the pub, including the newly renovated flats above, bringing it into community ownership and preserving an important community asset for future generations. 

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What is a Community Benefit Society?

Sister Midnight Community Venues Limited is the Community Benefit Society that we have formed in order to continue Sister Midnight’s work and establish Lewisham’s first community owned live music pub. 

A Community Benefit Society is a not-for-profit business structure that is owned and democratically controlled by the community it serves. Community benefit societies can issue community shares, and anyone who buys shares becomes a member of the society with voting rights, giving them a say on how the business is run. The society operates on the democratic co-operative principles of one member, one vote, so voting power can never be bought.

What are Community Shares?

Community Shares are a form of withdrawable share capital that can only be issued by co-operative and community benefit societies. Investing in a community business by purchasing community shares provides them with the capital they need to grow. Societies can pay a modest level of interest on share capital, and you can withdraw your shares and get your money back, subject to the rules of the society.

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Levels of Investment

£2,500 or more

2 of 5 claimed

£2,500 Investment & Reward

Invest £2,500 and you'll become a member of our society and a part owner of the Ravensbourne Arms, alongside other members. You'll also get an INCREDIBLY RARE Speedy Wunderground test pressing, choose from SW001, SW006, SW029, SW033 and SW036.

£100 or more

£100 Investment

Invest £100 in Sister Midnight, and you'll become a member of our society and a part owner of the Ravensbourne Arms, alongside other members.

£200 or more

£200 Investment

Invest £200 in Sister Midnight, and you'll become a member of our society and a part owner of the Ravensbourne Arms, alongside other members.

£300 or more

7 of 10 claimed

£300 Investment & Reward

Invest £300 in Sister Midnight, and you'll become a member of our society and a part owner of the Ravensbourne Arms, alongside other members. You'll also get a signed copy of Emma Warren's pamphlet 'Document Your Culture".

£400 or more

4 of 20 claimed

£400 Investment & Reward

Invest £400 and you'll become a member of our society and a part owner of the Ravensbourne Arms, alongside other members. You'll also get a signed vinyl copy of Footshooter's 2017 EP "Strange Days".

£500 or more

15 of 20 claimed

£500 Investment & Reward

Invest £500 and you'll become a member of our society and a part owner of the Ravensbourne Arms, alongside other members. You'll also get free entry for two people to a gig of your choice at the Ravensbourne Arms and two drinks on the house, any time in the first six months after we open.

£1,000 or more

0 of 2 claimed

£1000 Investment & Reward

Invest £1,000 and you'll become a member of our society and a part owner of the Ravensbourne Arms, alongside other members. You'll also get a pair of Adult 3 Day Tickets to either ArcTanGent Festival 2022 OR 2000Trees Festival 2022!

£5,000 or more

0 of 1 claimed

£5,000 Investment & Reward

Invest £5,000 and you'll become a member of our society and a part owner of the Ravensbourne Arms, alongside other members. You'll also get an exclusive reward package from South London band Tiña, including: a signed 7" vinyl of their 2019 single "I Feel Fine", a vinyl pressing of their 2020 Album "Positive Mental Health Music" with a signed insert, and a size L Speedy Wunderground long sleeve top in the bands signature colour, pink.

£7,500 or more

0 of 1 claimed

£7,500 Investment & Reward

Invest £7,500 and you'll become a member of our society and a part owner of the Ravensbourne Arms, alongside other members. You'll also get an exclusive reward package from Mercury Prize 2020 nominees Porridge Radio, including 2 tickets to either of their SOLD OUT London Shows at Village Underground in November 2021, as well as a Bundle for two (Includes 2 x T-shirts in sizes of your choice, and 2 x stickers)

£10,000 or more

0 of 1 claimed

£10,000 Investment & Reward

Invest £10,000 and you'll become a member of our society and a part owner of the Ravensbourne Arms, alongside other members. You'll also get 2 x Adult Weekend Tickets for the 2022 edition of award winning UK festival 'End of the Road', and a round of drinks at the Ravensbourne Arms for you and 4 friends!

£20,000 or more

0 of 1 claimed

£20,000 Investment & Reward

Invest £20,000 and you'll become a member of our society and a part owner of the Ravensbourne Arms, alongside other members. You'll also become the lucky owner of an original painting by Toby & Aiden Evans-Jesra, which was used as the cover art for Goat Girl's second album "On All Fours", as well as a copy of the album on vinyl, signed with a personal message for you by the Goats themselves.

£50,000 or more

0 of 2 claimed

£50,000 Investment & Reward

Invest £50,000 and you'll become a member of our society and a part owner of the Ravensbourne Arms, alongside other members. You'll also get FREE ENTRY TO EVERY GIG at the Ravensbourne Arms FOR LIFE, as well as a Sunday Lunch for 8 people on a date of your choice.

£1,000 or more

5 of 5 claimed

£1,000 Investment & Reward

Invest £1,000 and you'll become a member of our society and a part owner of the Ravensbourne Arms, alongside other members. You'll also get a 7" vinyl copy of Italia 90's single "Stroke City", signed and illustrated by the band.

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