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BS3 Community Development Chessel Centre

New public art unveiled to mark completion of Bristol community centre

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BS3 Community Development logoA new piece of public art has been unveiled in Bristol to mark completion of a new community centre and nursery, the Chessel Centre, run by social enterprise BS3 Community Development.

Work started on the Chessel Centre, the latest venture by the local charity, formerly known as the Southville Community Development Association (SCDA), late last year and comprises a 54-place nursery, a meeting room for use by local community groups/activities such as after-school clubs for children and social clubs for older people, as well as large outdoor play spaces for the nursery.

Earlier this year a call went out to local artists to produce a piece of work inspired by the local community, working with local primary school children to come up with the creative design. Local artist, character designer and graduate of Bristol School of Animation, Nila Murali was selected to fulfil the brief. Nila has worked with three local primary schools with pupils creating artworks to inspire the final design.

Dr Simon Hankins, Chief Executive Officer at BS3 Community Development commented: “The Chessel Centre has been an ambitious but much needed project for the area, especially to help meet the demand for quality childcare provision in the area. It’s important to us that this is a place where members of the local community can learn, grow, have fun and get together with friends and family.

“Most importantly, we want this to be a place where people can feel proud about being part of the BS3 community and having this art project, created by the community, above the entranceway is a big part of that.”

Nila Murali, commissioned artist, commented: “Bristol has such a terrific reputation for creativity and it was a pleasure to be a part of this project.

“The Chessel Centre is a place for families and particularly young children, so I thought that having young children come up with the concepts and creative ideas really tied in nicely. That element of community spirit was the main reason why I wanted to be part of this project.”

Following the grand unveiling, an exhibition containing all of the artwork created by the local schoolchildren will open in the new community hall at the Chessel Centre in due course. The facilities at the Chessel Centre will open over the coming months, with the new 54 place nursery now open, and the community room opening in the New Year.

For more information please visit bs3community.org.uk.

For more information on artist Nila Murali visit www.nimuarts.com.

SCDA launch local social bond offer for new community centre and nursery

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Social Enterprise Mark holder Southville Community Development Association (SCDA) and Triodos Bank have launched a bond offer to help raise £280,000 towards the cost of the Chessel Centre, a new £1.19m community hub and nursery in Bedminster, Bristol.

The centre, which will open in the autumn, will comprise a 54-place nursery, a meeting room for use by local community groups/activities such as after-school clubs for children and social clubs for older people, as well as large outdoor play spaces for the nursery.

Working in partnership with the corporate finance team at Triodos Bank, the SCDA bond is expected to pay 4% gross fixed annual interest for six years. The minimum investment is £500 and investors in the project may be eligible for Social Investment Tax Relief.* 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 SCDA’s core activity is the provision of high quality childcare and education for children under five, with around 180 local children using its nursery services at the Southville Centre. The OFSTED outstanding rated nursery has been such a success that it is currently at full capacity, with a waiting list of 250 children and families often waiting up to two years for a place. As an ethical organisation the charity also holds the Social Enterprise Mark and Gold Standard from the Green Business Tourism Scheme.

The opening of this second nursery will not only enable more families to have access to high quality local childcare and provide additional community facilities for the area but, by generating greater surplus, will enable the SCDA to increase its charitable activities and investment into the Bedminster community. Situated on the site of the former Boys Brigade building at the corner of Chessel and Garnet Streets, the new 476 sq m Chessel Centre will also support the local economy by providing new jobs and using local contractors for the building works.

The £1.19m total cost of transforming the site is being met through a combination of £196,000 from the charity’s reserves, capital grants and repayable finance. In addition to the funds raised through the £280,000 public bond offer, the SCDA has been awarded grants from Bristol City Council (£74,000) and the Power to Change Community Business Fund (£300,000). Furthermore, the bond is expected to qualify for a further £280,000 of matched funding from Big Society Capital managed by Ethex.

Simon Hankins, CEO of SCDA, said: “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.”

Dan Hird, head of Triodos Bank Corporate Finance, comments: “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 area residents.”

For more information please visit the SCDA website.

 

* The SCDA has received advance assurance from HMRC that the bond offer should be eligible for Social Investment Tax Relief (SITR). SITR encourages individuals to support charities and social enterprises and in turn helps those charities and social enterprises to access new sources of finance. Individuals making an investment in the bonds can, depending on their circumstances, benefit from income tax relief at 30% of the amount invested. The availability of SITR can increase the total return over the full term of the bond to an estimated 10.3% gross per year for a higher rate (40%) taxpayer. The ability to benefit from SITR depends on an investor’s personal circumstances, current tax legislation and the company’s compliance with the rules.

Investment decisions must only be made on the basis of the offer document and not on any information provided in this news release. Investing in the SCDA bonds is not the same as depositing your money in a bank account as your capital is at risk and you may not get back the full amount that you invested. An investment in the SCDA bonds is not covered by the Financial Services Compensation Scheme.