AERO Space Kinross Scientific Educational Trust (ASSET) and partner, Ethex, are calling for interested parties to join them this Wednesday 15 February 12.30 pm for their first Ethex ‘Cuppa Club’ webinar – to give people a chance to find out more about their aims to fund and create an uniquely-themed space and aviation visitor attraction in Kinross.
Anyone can join the ASSET and Ethex teams for “a cuppa and a chat”, outlining the exciting Aero Space Kinross (ASK) project.
The ASK mission is to create a stimulating and immersive new visitor attraction and education hub with a flight and space exploration theme in the heart of Scotland. The attraction will generate vital employment and tourism opportunities for the local area while inspiring and educating future generations in space exploration and flight.
The planned venue will have a planetarium and exhibits that will provide an immersive, hands-on fun educational experience for families and schools while helping to strengthen the local rural economy. The IFISA or SITR-eligible bond offer is currently open for investment on the Ethex platform.
The ‘Cuppa Club’ panel will include Ethex host, Paul Pizalla, investment manager; Alisdair Stewart, chair, Aero Space Scientific Educational Trust; Steven Gray, director of Aero Space Kinross; and Hannah Nisbet, science educator.
During the 45-minute online chat, the team will give some background to their plans, and how they have already secured £1.6 million of government funding.
They will also discuss the exciting plans for development, the proposed site and what it will mean for the local community and the future of space exploration and flight in Scotland and the UK.
Commenting on the next steps of the fundraising campaign, chair of ASSET, Alisdair Stewart, said: “We have launched the bond campaign and are now at the stage of bringing people onboard with our vision. It is more than a visitor attraction that we intend to build – it is a chance to put STEM education at the forefront of education and encourage young people in the area to study with a STEM career in mind.”
The fundraising campaign kicked off at the end of January with its investment bond offer to raise a target of £500,000 to take it to the land purchase and construction stage.
With a minimum investment of £1,000, UK investors can support this visionary educational initiative whilst receiving a potential tax-free return of five per cent*.
The investment will help to create an exciting and immersive new visitor attraction and education hub themed on flight and space exploration in the heart of Scotland, generating new employment and tourism opportunities for the local area, while inspiring and educating future generations in space exploration and flight.
ASSET has already secured £120,000 of seed money from its community share offer in 2017 and used this to create more funding bids and awareness, as a result, was awarded £1.6m of Tay Cities Deal Funding.
Working with Ethex, the leading impact investing platform, the ASSET bond offer will be available to view and invest from 20th January 2023.
* Investments in the bond offer are eligible to be held within an Innovate Finance ISA for potential tax-free returns, or are eligible for Social Investment Tax Relief at 30 per cent. Note: eligible investors who elect for the SITR will be liable for tax on the interest.
Where will the attraction be built?
Having explored four different locations for the ASK venue, the ASSET board has chosen a location at Balado Bridge as the site that offers the most opportunity. Known widely as ‘The Golf Ball’ the site offers great access from the major arterial route of the Central belt, the M90, and is of sufficient size to support future expansion beyond the scope of this stage. Utilisation of existing buildings will help minimise carbon impacts as will a conversion of existing fossil fuel-based energy sources to renewables.
Architects and surveyors have prepared plans and submitted a pre-planning application which has been favourably reviewed by Perth & Kinross Council.
If ‘the golf ball’ site acquisition was to fall through, an alternative greenfield agricultural site is available within the perimeter of the former RAF Balado Bridge WW2 aerodrome. Also located close to, and with very good access to/from the M90, this is another attractive proposition where a new build development would be undertaken in stages. A development concept has been prepared for that site as a fall-back option.
What the money will be spent on
Once acquired, c.£2 million will be spent on renovating the buildings and the design/installation of content to create the visitor experience, along with all the services needed for a modern attraction.
Aero Space Kinross (a community interest company) will be a first-class venue for learning, cultural events, volunteering opportunities, corporate and academic exhibitions.
The venue will be home to interactive otherworldly exhibits, a fully immersive 3D planetarium and attract presentations from experts in the world of flight and space exploration. Experts from Glasgow Science Centre with extensive design and installation experience will assist in content design and the creation of exhibits and displays. The centre will also showcase the latest technology developments of universities and aerospace corporates; thus, content and displays will be continually refreshed from collaborations with corporate and academic sources.
*BOND OFFER is subject to FCA rules.
We do not encourage people to take part if their means are restricted in this current economic climate.
*Ethex (Ethex Investment Club Ltd) operates the website ethex.org.uk
The bond is offered by Aero Space Scientific and Educational Trust (ASSET) a charity registered with Office of the Scottish Charity Registrar number SC045931 to support Aero Space Kinross Community Interest Company.
Offer open: From 20th January 2023 and closes on 31st March 2023
Purpose: This bond issue will help us attain our future vision to create and operate an iconic, family-oriented discovery centre themed on flight and space exploration to:
(1) Inspire young people through play-based STEM learning;
(2) Engage the local community in the acquisition, preservation and re-purposing of a disused former MOD/NATO satellite communications station; and
(3) Create jobs and stimulate uptake of careers in aerospace.
Investment target: £500,000
Investment parameters: Minimum investment £1,000
Transferable bond, Repayable after three years at earliest, or by 2030 at the latest
Interest rate five per cent pa paid at redemption
30 per cent Social Investment Tax Relief or Innovative Finance ISA (IF ISA)
About ASSET and Aero Space Kinross…
ASSET is community-led, controlled and operated for the benefit of Kinross-shire and the community it serves. Aero Space Kinross is a tremendous opportunity for the residents of Kinross-shire and beyond that will bring huge economic, educational and tourism benefits to the area, as well as providing locals, Scots, and visitors alike with a unique flight-themed science and space centre.
Aero Space Kinross Community Interest Company is a wholly-owned subsidiary of Aero Space Scientific Educational Trust, Scottish Charity No. SC045931. For more information on how to support and be a part of this unique experience, go to…
For further project and ASSET bond offer information please contact: Alisdair Stewart: firstname.lastname@example.org
For further press information, images and interviews please contact Fiona Stewart: Fiona@aerospacekinross.com Mob: 07979622853
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