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A new bond for the community

Reliable, accessible and welcoming community centres help enrich and solidify communities. One such centre, Southville Community Development Association (SCDA), are raising finance to reach more of Bristol’s population through a brand new community hub, The Chessel centre.

Established in 1990, SCDA currently provides nursery places to around 180 children, with a further 250 on a waiting list. The profits generated through the nursery help fund the SCDA’s charitable and community activities, which reach around 2,000 individuals a week across a variety of services, including the operation of clubs for the elderly and out of school provision for primary aged children.

The charity has long had ambitions for an expansion which would allow them to increase their impact on the local community. Now, after purchasing a site for the new build only a mile from the current centre, SCDA are looking to raise £280,000 in partnership with Triodos Bank’s corporate finance team to contribute towards the £1.19million required to build the brand new Chessel Centre.

“The exciting thing about this bond is that Triodos found a way to allow our neighbours to invest directly into something that will directly benefit them in return… I like to think of it as crowdfunding for Bedminster.”

Simon Hankins, CEO of SCDA

 

The opening of this second nursery – scheduled for Autumn 2017 – will not only provide families with access to high quality local childcare but, by generating greater surpluses, will allow the SCDA to increase its charitable activities and investment into the community of Greater Bedminster.

Local residents are being invited to support the project by investing in a six-year bond being issued by the charity. Simon Hankins, CEO of SCDA, says “Our values as an organisation have always focused on what’s best for our local community. The exciting thing about this bond is that Triodos found a way to allow our community members to invest in something that will directly benefit them in return, in respect to both our shared community and our financial wellbeing. I like to think of it as a form of crowdfunding for BS3.”

The 4% bond offer will raise £280,000 for the project and has a minimum investment of £500. But be aware that investing in a bond isn’t the same as depositing money in a bank account: payment of interest and repayment of capital are not guaranteed and are dependent on the continued success of the SCDA’s business model and the new nursery.

The new site, a former Boys Brigade building, will be developed to provide an extra 54 nursery places, a large meeting room for use by local community groups, as well as an outdoor play area for the nursery.

By planning for a new build, SCDA are also able to incorporate environmentally sustainable elements into the design plans for the building. Where possible, the building will use sustainable materials and incorporate solar PV panels in the roofing as well as a rainwater capture system.

Dan Hird, head of Triodos Bank Corporate Finance, points out “it’s not often that investors get the chance to support a well-known charity on their own doorstep and actually see the positive change their investment can have. We’re confident that local investors will want to support the SCDA as they address the growing local childcare need and improve the lives of the residents of Southville.”

 

Southville Community Development Centre
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Since beginning in 1990, the SCDA has grown to support approximately 2,000 residents of Greater Bedminster, each week. The Bristol charity provides a number of services designed to improve the health and wellbeing of the community residents, with their core activity being the provision of high quality childcare and education for children under five – currently around 180 children use these services.

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