Shepton Mallet's Amulet Centre could soon be revived as a bustling community hub — if residents are willing to buy a stake in its future.

A £200,000 community share offer launches on Saturday 24 May, giving locals the chance to invest in the building and support its transformation into a space for theatre, cinema, live music, festivals and year-round community activities.

The offer allows individuals and organisations to buy shares in The Amulet Centre Limited, raising funds to purchase and reopen the town centre site. Unlike traditional investments, it gives backers a democratic say in how the project is run, turning them into co-owners rather than just donors.

Organisers say this model has already delivered successful outcomes for other historic buildings across the UK — and they believe Shepton can do the same.

The building, temporarily reactivated on the ground floor, has already hosted pop-up events, exhibitions and a 60-seat cinema space. A summer programme is set to follow, packed with live theatre, film and performance to show what the space can offer with relatively modest work.

But the long-term vision is much bigger. Once the building has been bought, the team plans to open it for limited use straight away, while gradually repairing and reopening the rest of the site.

The Amulet itself is a purpose-built theatre, opened in 1975 as part of a regeneration project. It was once the cultural heart of the town, with an unusual lifting seating platform that revealed a sprung dancefloor beneath, a full fly tower, two-storey dressing rooms, and space for music, drama and cinema. Brutalist in style and built in reinforced concrete, it was clad in local Doulting stone and designed to serve the whole community. Despite its current state, many of those original features — including the stage-to-street gear crane — remain intact.

While the structure is sound, internal systems now require significant refurbishment.

Organisers say that with community support and additional funding — including an application to the new Heritage Revival Fund — the building can once again become a place that brings people together and celebrates Shepton's creativity.

The share offer opens on Saturday 24 May and will remain live until Saturday 31 August. Minimum investment is £250, with options up to £50,000.

A launch event will take place at the Amulet from 10am to 3pm on 24 May, with further information available at Sunday Market open days, held on the last Sunday of each month (except June).

More information here.