The closure of Middle Wenallt as an option for the Institute

We are sorry to announce that Middle Wenallt is no longer available to purchase for the Mikyo Dorje Institute.

The vendor of the site has agreed its sale to another purchaser, for reasons unknown to us, thereby taking it out of our hands. These other purchasers have been associated with the vendors for a long time.

When discussing this change of circumstances with Lama Jampa he encouraged us to be resolute: "We need to take a deep breath and carry on."

His Holiness Karmapa has been informed of the closure of the opportunity for Dechen to purchase the Middle Wenallt. In response to this news His Holiness stated: "I see. Nevertheless, conditions might come together in a better place, so I will pray for that."

Lama Jampa's wife, Dechen Dolma, thanked His Holiness for his words of encouragement, to which he responded: "I really feel that way. Good things come to those who have patience for merit."

Lama Jampa has encouraged that we continue to recite the sadhanas that His Holiness recommended for a successful site acquisition.

The Dechen community has been immensely generous from the beginning of the project and in response to the recent endeavour.

Thanks to this generosity, we currently have £530,000 in the bank, and a further £110,000 in pledges. These donations are in a secure COIF Charities Deposit Fund, receiving interest. Alongside this, monthly standing orders are sufficient to service a loan of £600,000. Triodos Bank have given us a Heads of Terms Agreement to set up a loan.

Therefore, our financial position is strong to buy an available site, on the market.

In terms of next steps, Lama Jampa has advised that we focus on securing a property that is ready for immediate use, which won't force the overstretching of our resources.

Lama has also suggested that we will grow into the space that we find, and work out the shape of the Mikyo Dorje Institute based on what's financially and practically suitable.