Regeneration projects to benefit from Camberwell’s £250,000 finance win
A LEEDS-based firm, which drives regeneration through social enterprise, will be able to continue its valuable work after securing £250,000 in finance.
The Partnership Investment Finance (PIF) loan will enable Camberwell to continue developing its self-designed myCatalyst centres, which provide flexible and innovative business space for entrepreneurs in deprived areas.
The money will also help the company, which has managed more than £10m in projects in its first 18 months, to commission new social business developments and expand into sectors such higher education, housing and healthcare.
One such project saw Camberwell transform the former Harehills Middle School in Leeds into Shine – an award-winning £4.5m enterprise centre incorporating conferencing and meeting rooms as well as a myCatalyst offering pay-as-you-go business accommodation.
Todd Hannula, chief executive of Camberwell, said: “Our five myCatalyst Centres in deprived areas of Leeds and Bradford provide value for money office facilities alongside support services for start-up businesses.
“Their success in attracting and supporting entrepreneurs is triggering growth and development in those areas.
“The investment will allow us to increase the number of myCatalysts and invest in further new community-owned development projects as first steps in our goal to inject a £1bn of value into the social business sector.”
PIF investment manager Duncan Gray said that Shine and the existing Catalyst Centres demonstrated the strength of Camberwell’s plans.
“It has a strong management team with skills from both the private and public sector,” he added.
“I am confident that the compnay will continue to go from strength to strength, especially with the additional financial security provided by the investment.”
