One of our key services is in offering help in assessing business options, business models, and to create financial models to underpin business plans and funding applications. Whilst this service is integral to all of our own work we occasionally offer this specific service externally to other larger projects and project partners.
Recently we worked as part of the Tricolor Ltd team that assembled the successful HLF Round One application for the Hull:Yorkshire's Maritime City £27.5m refurbishment project involving the Maritime Museum, the Arctic Corsair, and the Spurn Lightship to develop the business model foundations for the long-term. HLF have given the scheme £15m while Hull City Council has committed £12.5m for the project. The seven-year plan is designed to reconnect the city to its waterfront, tell the story of Hull’s role as a centre for international trade, commerce and exploration, and build on its year as the UK City of Culture 2017. Our work involved modelling the likely number of visitors and looking at the income possibilities for areas such as retail and catering. We also advised on the cost planning for the HLF application.
We undertook a similar role in the development of the Saltdean Lido project where a number of site management and catering options were taken into account to create a sustainable financial model.
Recently we have started work with Tricolor on looking at the business and income generating options for the large Wentworth Woodhouse project in Yorkshire. Wentworth Woodhouse is one of the largest houses in Europe and consists of two houses of totally different architectural styles built by The First Marquess of Rockingham between 1725 & 1750 - the west front of the house in the baroque style & the east front in the later palladian style. The house was sold at the end of March 2017 for £7m following a 5 year campaign by SAVE and the Wentworth Woodhouse Preservation Trust. The Preservation Trust is now embarking on a major project to restore the house and open it to the public. This involves the assessment of a wide range of income generating options for the house and the grounds.