A home for Mikyo Dorje is within our gift!
Mikyo Dorje will be an inspiring place where people will come to study and practise seriously, and then take that back into their social worlds, into their communities, and spread something of the confidence that goodness can be achieved in people’s lives.
Lama Jampa Thaye
His Holiness Karmapa and Lama Jampa Thaye blessing the Stupa at Kagyu Ling Buddhist Centre, July 2024
Progress towards the purchase of Haughton Farm, for the Mikyo Dorje Institute, has reached a critical phase as we have a window of a few months to convince the vendor, the trustees and the bank that we are in a financial position to go ahead with the purchase.
How much money are we talking about?
The price we will pay is still subject to negotiation but we estimate that the purchase of the property and the work necessary to make the house usable will cost in the region of £2,000,000.
How much of this has been raised so far?
This is a constantly increasing figure. At the time of writing 63 people, over the years, have made one off donations totalling £283,000, in addition more than £200,000 has been pledged in the form of cash lump sums and private loans.
Will cash lump sums be sufficient ?
It is unlikely that this will be the case, so the team has been having pre-lending discussions with Triodos Bank with a view to borrowing in the region of £1,000,000. A business plan is being drafted to show the bank how the finances will work.
Why have we approached Triodos Bank?
Triodos specialises in lending to charities which have a mission to create change. Dechen charities have borrowed from Triodos in the past to help finance our UK centres and the bank is supportive.
Can we afford a loan of this size?
The funding backbone for all Dechen centres comes down to the generosity of individual members of our community, some of whom commit to paying regular monthly amounts by standing order. Many people have committed to standing orders across a wide range of amounts, up to and including £300 per month.
I want to help realise the vision of the Mikyo Dorje Institute - how can I help?
If you would like to make a standing order to the Mikyo Dorje Institute please click on this link which will take you to the relevant page of the website:
https://www.mikyodorje.institute/financial-support
How much should I offer?
This is entirely up to you, as people’s circumstances vary. Repayments on any loan will be met from standing orders received and other operating income from activities.
Is this the only way to give?
No, you can make a cash donation, leave a legacy, or lend money for the development of the project. However, for many people standing orders are an affordable option and make for easier financial planning.
When will we know what the actual purchase price will be?
A number of professionals have visited the site on our behalf. These include quantity surveyors, structural engineers, planning consultants and architects. Their reports will be used in the negotiations with the vendor. We will share the actual figure when it is finalised. An initial figure is likely to be agreed before the end of the year and may be subject to further negotiation depending on the bank’s buyer’s survey.
Who is overseeing this work on our behalf?
The due diligence around the purchase and the decision on whether and when to go ahead is being overseen by the board of our charitable company, Kagyu Dechen Buddhism Limited. This is a group of skilled professionals each with up to 50 years’ experience of buying and managing dharma centres in our community.
What will we have when the sale is complete?
We will have a large eighteenth century farmhouse, approximately 15 plus acres of land and a large built footprint of barns suitable for conversion to our purposes. Phase 1 will be to convert the farmhouse into facilities for group and individual retreats.
2025 marks the 50th anniversary of Dechen activity in the UK and completing the purchase of a site for the Mikyo Dorje Institute would be a truly great way to celebrate and to ensure that the roots of the Buddhadharma, so generously shared with us by Lama Jampa and his masters, are deeply embedded for future generations.
Thank you to everyone who has already contributed to the Mikyo Dorje Institute. Every act of generosity and commitment strengthens the project and generates merit.
The value of standing orders for the success of the Mikyo Dorje Project in the short and long term.