Greenwich Leisure Limited | Big Society Capital

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Greenwich Leisure Limited

Strategy area | 
Product theme | 
Region | 

Greenwich Leisure Limited, a Community Benefit Society, used a charity bond to help transform new sports facilities as accessible community facilities

Problem 

Two thirds of people do not currently take part in weekly exercise, despite links to illnesses such as heart disease, stroke and diabetes. A key barrier to participating in sport is a lack of affordable, appropriate or accessible facilities.

Solution 

Greenwich Leisure Limited (GLL) provides access to quality leisure and fitness facilities at affordable prices to promote healthy and active lifestyles at 150 locations across the UK.

Revenue Model 

GLL used a charity bond to help transform new sports facilities including the London Aquatics Centre and Copper Box Arena and the Royal Greenwich Lido as accessible community facilities. The bond will be repaid with income from the venues including membership fees.

Impact 

Over 1.2 million people have visited the London Aquatics Centre and Copper Box Arena to-date. Members of the local community now train alongside world class athletes. GLL also actively engages groups who traditionally do not take part in sport including people on low incomes, people with disabilities, women and older people.

Investors need to be able to see the social benefit.

Philip Donnay, Director of Finance and Business Administration, Greenwich Leisure Limited

The investment was made into Greenwich Leisure Limited to support the continued use of legacy sports assets, and to help fund the promotion of healthy lifestyles in London. Greenwich Leisure Limited is also a not for profit business that prioritises reinvestment in the business.

Bryn Jones, Head of Fixed Income, Rathbones

Key information

Duration | 
5 years
Cost of capital | 
5%
Investment amount | 
£5 million
Turnover | 
£155 million (estimated for 2014)