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Tuesday, 12 April 2011

Beaufoy Institute up for sale

Because of cuts to Lambeth Council's funding made by the Government the Council has been forced to dispose of various sites in order to protect our frontline services. Over the past few years various options for educational use for the Beaufoy Institute site have been explored, and none have come to fruition. The council will begin the process of selling the Beaufoy site on Saturday. Lambert Smith Hampton are managing the bidding process.

Cllr Paul McGlone said:

“These plans should be good news for everyone – local residents should see the building brought back into use, while the sale of the building will raise funds for the Beaufoy Trust to help disadvantaged young people in Lambeth, and also vital funds for the council to invest in local schools, roads and housing at a time of such major cuts in Lambeth’s government funding.”

· The receipts raised from the buildings sale would be spilt between the council, to invest in services for local residents, and the Beaufoy Trust, a charity which seeks to support disadvantaged young people through education and training.

· The building is listed so could not be torn down. Instead it would be redeveloped, bringing back into use a building that is a local landmark and of historical significance.

· The building has been empty for around a decade.

· The decision to dispose of the building was made by cabinet in February 2011. The council’s disposal programme aims to raise £100 million over four years to invest in vital services, such as schools, roads and housing, at a time when the council’s budget has been slashed by cuts in capital grants from central government of 60%.

· There is no covenant in place that says the building must be used for education use, but the building’s sale will raise vital funds that will help the Beaufoy Trust continue its work of helping young, disadvantaged residents.

Background : The Beaufoy Trust

The Council is the Corporate Trustee of the Beaufoy Trust, but the issues around the dilapidated Institute building which has been ‘mothballed’ for a decade and the actual Trust have become muddled over the years. The Council has been seeking a solution to resolve this confusion, separate the building from the Trust and re-establish the Trust to focus on what it was originally set up for.

The modernised charitable objects of the 100 year old Beaufoy Trust are set out in the Trust Scheme, and state: “The object of the charity is the promotion of the education for the public benefit of persons under the age of 25 who are in need of financial assistance and resident in the area of benefit, with a preference for the promotion of vocational training”. ‘Vocational training’ is defined specifically, but covers education, training or instruction capable of improving prospects for employment. The area of benefit is also defined, but is broadly North Lambeth. Importantly, once the Beaufoy Institute building has been sold, the money can be used for the purposes of the Trust, which has delivered nothing for over a decade. Importantly, The Capital Community Foundation (CCF) has confirmed that it is interested in the trusteeship of the Beaufoy Trust being transferred to CCF once the sale of the property has been completed by the Council. This will make the Beaufoy Trust completely independent from the Council, with a capital sum of money to invest and be used for local vocational training in the future.

1 comment:

bicycle.repairman said...

Will the building be retained for educational use, as stipulated by the covenant on it?

Promoted by David Amos and Joanne Simpson of Prince's Branch Labour Party (Vauxhall Constituency and Lambeth Borough) all at 264A Rosendale Road, SE24 9DL