A COMMUNITY group has officially taken ownership of an iconic town building.

The Roxy Collective, a not-for-profit Community Interest Company (CIC) formed to purchase The Roxy in Ulverston, have been successful in their two-year plan to buy the town centre building.

The Roxy Collective was initially formed two years ago to purchase the Roxy building and maintain the businesses which are already there: the Roxy Cinema, world-renowned Laurel and Hardy Museum, the U-Gym Ulverston and 808010 Productions.

The group, formed by local residents, set out a three-phase plan; to purchase the building, to renovate it and collaborate with people in developing its community initiatives.

The group has been raising funds for the project for the past 11 months in a campaign which has seen an outpouring of support from the community plus a hugely successful Crowdfunder which raised over 150 per cent of its original target.

READ MORE: The Roxy Collective set up to purchase Ulverston building 'blown away' by donations

The group was also awarded a grant of £300,000 in December from the Government’s Community Ownership Fund towards the purchase and renovation of the building.

A spokesman for The Roxy Collective said they are ‘delighted’ to have finally taken ownership of the building.

He said: “We are delighted to announce that we have officially taken ownership of the Roxy building after the completion and signing of contracts.

“When we initially formed the collective two years ago our main objective was to buy the building to ensure it is protected, preserved, restored and revitalised. We wanted to safeguard this much-loved building to help keep the businesses that currently occupy it open and an integral part of the community. Today has seen the completion of this achievement and the beginning of a new and prosperous future for the building and Ulverston community. 

“Thanks to the outstanding support and successful funding bids we also have enough to begin extensive structural repairs to the building, along with improving its sustainability and access. 

“We would like to send a massive thank you to Ulverston Town Council, Ulverston BID, the Community Ownership Fund, local businesses and all the wonderful members of the public that helped raise the funds needed. You’ve all played a huge part in this achievement and we could not have done it without you.”