Southmead Development Trust | Big Society Capital

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Southmead Development Trust

Social issue | 
Region | 

The Greenway Centre is a community run business centre and community hub. It used social investment to install solar panels.

Social investment has enabled us to reduce our overheads so we can do more good things

Alex Kittow, General Manager, Greenway Centre

Problem 

Southmead is one of the most deprived areas of Bristol, with life expectancy more than nine years lower than other parts of the city

Solution 

The Greenway Centre, run by Southmead Development Trust, serves the local community, providing training courses for job seekers, fitness classes for referrals from local GPs and Southmead Development Trust, facilities for local groups and a business centre for local start-ups.

Revenue Model 

The loan enabled the centre to install 207 solar panels. Regular income from the feed-in tariff is used to repay the loan.

Impact 

The solar panels have reduced overheads at the centre, so that they can host a play scheme without charge and offer reduced gym membership and low rents to community businesses that will bring money into the local economy

The Greenway Centre approached us for a loan because they wanted to put solar panels on the roof and couldn’t afford it. Somebody else was going to do it for them, but then all of the financial value would have stayed with that organisation. Our loan enabled the Greenway Centre to pay for the panels themselves and keep all of the financial benefit.

Robert Rabinowitz, CEO, Pure Leapfrog

Key information

Duration | 
7 years
Cost of capital | 
4%
Investment amount | 
£50,000
Turnover | 
£503,636