A PROPERTY company has launched a share issue to raise money to offer affordable office space to Oxford voluntary groups.

Ethical Property Company director Jamie Hartzell said: "We have created a way for people to invest in social change. People will be able to put their money towards creating the kind of world they believe in and have the prospect of a return on their investment."

He is spearheading the initiative from the Quaker Meeting House in St Giles. He said: "Planning policy and commercial pressures mean that many small offices and workshops in Oxford are being turned over to private housing. The voluntary sector and ethical businesses are being pushed out of town.

"We're looking to buy buildings in Oxford that we can develop so that these sectors can continue to grow. We want those buildings to be environmentally friendly, too."

The company already owns centres in North London and Bristol for groups ranging from the Islington Zaire Refugee Group to environmental video production business Small World Productions.

Oxford groups which urgently need new homes include People and Planet, formerly Third World First, and the refugee support group Asylum Welcome.

The share issue, sponsored by the ethically-based Triodos Bank, has £160,000 pledged already and aims to raise £1m.

The minimum investment is £300. Projected dividends start at 3p per £1 share, rising to 5p after October 2006. Capital growth at other centres has been an average of three per cent.

To order the prospectus, call 0117 980 9747.

Story date: Wednesday 19 May

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