Members of the public who bought shares to fund the purchase will get no financial return.
Mr Spencer insists the benefit is social and environmental.
“It’s for people taking some time out. People locally have grown up and visited it over the years, as kids and teenagers, as well as parents of young children,” he said.
Once they have taken ownership of Slade Wood, the group plans to keep it open to the public, as it was under the previous owner.
“We thought there was a danger it could be bought privately and fenced off with people no longer able to have access to the space,” Mr Spencer said.
On the environmental side, the group points to successes at Folly Wood where the creation of clearings and ponds has increased biodiversity.
