The campaign to turn a disused property in the heart of Tech City into a Village Hall for use by local startups and community groups has hit a snag, after the organisation overseeing the conversion was outbid for the building lease on 154 Shoreditch High Street.
Shoreditch Works confirmed on its blog that it would have to hunt for a new location to build a community hub and event space, but said that most aspects of the project were going ahead as originally planned.
"To say that we're disappointed is an understatement. We've put an enormous amount of work into planning this project over the last year, and last month's Kickstarter campaign revealed just how much support there is in the community for this project," Shoreditch Works commented.
It continued: "Our stretch goal to give local startups four free desks for a year has been made possible thanks to your support. Because you helped us reach our second stretch, we're also now able to develop a Community Management Apprenticeship, and provide a working environment and opportunities for those apprentices to gain valuable work experience. We have enough space in our two existing coworking locations to do these."
Pledge rewards such as T-shirts, artwork and meeting room space would be available shortly, the group added.
Driven by Shoreditch Works, the 'Open the Shoreditch Village Hall' project finished its Kickstarter run on 8 June having smashed an initial funding goal of £25,000 and subsequent stretch goals of £50,000 and £75,000. It left the crowdfunding platform with just shy of £100,000.
ITProPortal understands that the identity of the winning bidder for 154 Shoreditch High Street is currently embargoed.