A ‘broken’ property market spurred hundreds of locals to buy a building

News Brief: English

Summary

In Castlemaine, Victoria, hundreds of residents collectively purchased a historic local pub/business hub through a community investment co-operative to prevent private sale and gentrification. This reflects a growing national trend of using co-operative models to acquire and manage community assets like pubs and childcare centers, emphasizing economic democracy and permanent community control over profit.

Key Points

  • Community Ownership: Over 300 locals formed the Castlemaine Community Investment Co-operative, raising $1.95 million from members to buy “the Hub,” a building housing small businesses and a cafe, taking it off the private market permanently.
  • Co-operative Model: Co-ops are member-owned organizations where profits and control are distributed among members, not external shareholders. This model allows communities to raise funds internally, often at lower cost than bank loans.
  • Motivation: The purchase was driven by fears a private buyer would prioritize profit, exacerbating gentrification and a “broken” property market. The goal was to secure affordable, long-term tenancy for local businesses and preserve community value.
  • Broad Support: The effort was supported by the original building owners, the local council (which endorses “wellbeing economy principles”), and hundreds of members investing between $500 and $100,000 for a modest average return of 3.2%.
  • National Trend: Advocates describe a growing movement, with nearly 2,000 co-ops in Australia (including large ones like NRMA). Co-ops are seen as a form of entrepreneurship and original peer-to-peer lending that empowers communities.
  • Future Focus: The Castlemaine co-op, now focused on managing the Hub and repaying members, is open to future acquisitions, demonstrating a sustainable model for community-led asset ownership.

新闻简报:中文

摘要

在维多利亚州的卡斯尔梅恩,数百名居民通过社区投资合作社,共同集资收购了当地一座具有历史意义的酒吧/商业中心,以防止其被私人收购和高端化。这反映了一种日益增长的全澳趋势,即利用合作社模式来获取和管理社区资产(如酒吧、儿童保育中心),强调经济民主和社区对资产的永久控制权,而非单纯追求利润。

关键点

  • 社区所有权:超过300名当地居民成立了卡斯尔梅恩社区投资合作社,从成员中筹集了195万澳元,收购了名为”枢纽”的建筑(内有多家小企业和咖啡馆),使其永久脱离私人房地产市场。
  • 合作社模式:合作社是由成员共同拥有的组织,利润和控制权归成员所有,而非外部股东。该模式允许社区内部筹集资金,成本通常低于银行贷款。
  • 动机:此次收购源于担心私人买家会以利润为重,加剧高端化和当地”失灵”的房地产市场。目标是确保本地企业能获得可负担的长期租约,并保护其社区价值。
  • 广泛支持:此举得到了原建筑业主、当地议会(支持”福祉经济原则”)以及数百名成员的支持,投资额从500澳元到10万澳元不等,平均回报率约为3.2%。
  • 全国趋势:倡导者称这是一场日益壮大的全国性运动。澳大利亚有近2000家合作社(包括NRMA等大型机构)。合作社被视为一种创业形式和原始的”点对点”借贷,能增强社区能力。
  • 未来方向:卡斯尔梅恩合作社目前专注于管理”枢纽”和偿还成员投资,并对未来收购持开放态度,展示了社区主导资产所有权的可持续模式。

Original Article Link: https://www.abc.net.au/news/2025-12-08/castlemaine-cooperative-privatisation-economic-democracy/106103270

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