Bristol & Bath Regional Capital CIC (BBRC), the recently launched not-for-profit investment intermediary, announced the completion of its first fundraise on behalf of the South Bristol Sports Centre (SBSC). BBRC successfully raised c£1m of investment to create six new all-weather five-a-side football courts and secure SBSC’s long term future.

Community and environmental initiatives across the region are set to benefit from BBRC, which actively connects communities, companies and institutions in the West of England. The Bristol-based organisation facilitates effective collaborations designed to improve lives and encourage deeper civic engagement by directing investment into commercially viable projects and enterprises that enhance the social, environmental and economic fabric of the region.

When approached by SBSC to identify the necessary funding for its much needed restoration and development, BBRC convened a number of investors including Big Society Capital Charity Bond Fund Support, the Rathbones Ethical Bond Fund, the Resonance Social Investment Tax Relief Fund and the Bristol Credit Union to source funding in the form of a structured Charity Bond.

Mike Innes, Chair of SBSC, said “Without the professional expertise and extensive business connections of BBRC we would have struggled to raise the specialist funding needed to develop this vital and much used community resource. Our new state-of-the-art football courts, with FIFA 2016 approved surfaces, provide the people of South Bristol with a fantastic sports centre that we can all feel extremely proud of”.

Richard Pendlebury, Chair of BBRC, said “By securing and deploying positive investment funds BBRC aims to become a commercially sustainable driving force in the development of the region. SBSC is a great example of the real and practical benefits we can deliver to local communities by bringing together individuals and organisations that are able to invest in projects that enhance the wellbeing of the region”.

Daniel Brewer, Managing Director of Resonance, said “We are thrilled to have worked with BBRC as part of our first investment from the Resonance Bristol SITR fund, backing South Bristol Sports Centre. We hope that this is the first of many deals where Resonance and BBRC will be working together for the benefit of the people of the Bristol and Bath region.”

About the South Bristol Sports Centre (SBSC)

SBSC is a charity created to serve and provide facilities for the local community. SBSC prides itself on being able to provide activities and facilities which cater for a wide range of public need. Our existing sports facilities include football pitches, a gym, squash courts. There is also a diverse range of social facilities including sports bars, skittle alleys and function rooms.

SBSC has been in operation since 2006, when it was granted an initial 25-0year lease from Bristol City Council to manage and run the premises at West Town Lane, taking all responsibility for ongoing maintenance. Prior to SBSC involvement, the Bristol Imperial Sports Club that operated on the same site was loss-making.

After nine years of operation, SBSC has firmly established itself as one of the premier community-based sports venues in Bristol and, via its subsidiary South Bristol Sport Limited (SBSL), has turned a loss-making facility into a sustainable social enterprise, generating a cash surplus and serving some 3,000 visits per week.

For further information on SBSC, please visit www.fivesoccercentre.co.uk or call 0117 903 8681.