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A new Community Space for Bankside |
The Means' Peter
Williams and Michael Bird, Development Manager, Land Securities, pictured at
the launch of Bankside Community Space.
The realisation of the Space is a good
example of a piece of innovation delivering wide scale benefits. As part of its stunning
development in Bankside, London SE1, Land Securities was required through its Section
106 agreement with London Borough of Southwark, to provide 'community space'.
The Means responded to a business plan developed by Colin
Buchanan Associates with the following model:
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Use
of the lower floor as a venue for hire
by voluntary groups, businesses etc at affordable rates
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Hypothecate
Better Bankside's notional office rent towards managing and promoting the space
Result - the Business improvement District has 10
year peppercorn rent, and in return there is professional management and
administration of the community space. And,
if and when the rental stream from the space exceeds running costs the surplus
is ringfenced for CSR activities.
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Last Updated ( Thursday, 20 November 2008 )
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