Grafton Site purchase
The St George Foundation has been given the opportunity to purchase the land used for our site.
We have managed (with the Scouts goodwill I have to say) to agree price probably about a third of the true market value. That came about by taking into consideration the developments that we have created over the years. The prices have rocketed in the last few years since a main road connected the area directly with Freetown city. In order to make it affordable we have split the site into two plots...the part we use on a daily basis and absolutely have to have, and a section that we would like for future development which we also currently occupy (if we can raise the funds).
We have agreed a price for the priority bit of $35,000 (US dollars; approximately £25,000) on around 2 acres which includes all the buildings.
The market value is about three times that and the Scouts have in fact sold an adjacent piece of land for the full value. On top of this there are also expenses and taxes due (much like our own stamp duty that need to be covered).
Following some fundraising, we now have $27,500 (£20,000) available and we are appealing to supporters to make loans for the remaining balance?
We currently pay $10,000 per annum in rent and so this will no longer happen and we propose that any money loaned is paid back out of the sum over the next few years until the money is repaid.
Of course if anyone would like to donate the money we would be very grateful.
The main objective in buying the site is that it gives security to continue the work over the coming years and at some point a new generation can take over.