News / Society
Bond offer launched to build new nursery
A new bond offer aims to raise funds to build a new nursery in Bedminster.
Southville Community Development Association (SCDA) are launching the bond offer in partnership with Triodos Bank.
The social investment bond – one of the first such bonds in the UK to be match funded – will raise the final £280,000 towards the cost of the new nursery at the Chessel Centre on the corner of Chessel Street and Garnet Street – the site of the former Boy’s Brigade and known locally as the John Millard Memorial Hall.
is needed now More than ever
The new nursery will be the second for the SCDA following the success of a current nursery within The Southville Centre.
With a minimum investment of £500, the bond aims to be feasible for members of the local community to invest in their local facilities – and with good returns it means they can financially benefit as well as gaining a much-needed nursery in the area for children to attend.
Investors can potentially be eligible for Social Investment Tax Relief, with the bond expected to pay four per cent gross fixed annual interest for six years.
The new Chessel Centre will be able to be used by the whole community.
A meeting room will be used for after school activities and local community groups, while the 54-place nursery will have large outdoor play spaces. If the necessary funds are raised, it will open in the autumn.
Almost 200 children currently attend the SCDA day nursery and pre-school, which received an outstanding Ofsted report in 2015 and has a two-year waiting list.
The SCDA charity bond launch event takes place between 6pm and 7.30pm on Monday, January 23 at the Southville Centre on Beauley Road. For more information, visit www.eventbrite.co.uk/e/the-scda-registered-charity-1000544-charity-bond-launch-event-tickets-31099206564