The future of Cowes-based charity Storeroom2010 has been secured thanks to grants, a £364,000 loan and the continuing efforts of the charity’s trustees and staff.
Storeroom has been in talks with the social investor Social and Sustainable Capital (SASC) to undertake a major project to purchase its premises on Mariner’s Way. After significant effort from all sides, including major grant support from Power to Change of £80,000, unlocking a SASC loan of £364,000, as well as raising a Garfield Weston Foundation grant, the trustees and team have this week confirmed the purchase has been completed securing the future of Storeroom2010.
The charity, which collects donated furniture and sells it at an affordable cost to people across the Island, was given a new lease of life by Nick and Wendy Miller when previous funding for the project ceased. Storeroom has in recent months developed an Education department that helps disadvantaged people by providing them with accredited skills gap training, such as carpentry and joinery.
Ben Rick, Managing Director of SASC has this week said:
“We are very pleased to have supported Nick and Wendy to navigate the journey to buy the building at 1 Mariner’s Way. SASC’s investment, along with support from our partners at Power to Change and also Garfield Weston, will enable them to continue to tackle poverty on the island, preserve the environment by reducing landfill, and decrease the levels of unemployment through effective training.”
Marie Staunton, Interim CEO of Power to Change, comments:
“Storeroom is a fantastic example of a community business in action. The project was revived by Nick and Wendy and benefits the whole island community by providing affordable furniture, Storeroom helps improve people’s quality of life, boosts the local economy and now offers the opportunity to develop practical skills such as joinery and carpentry, through accredited training. It’s really great news that our support along with that of our partners has helped Storeroom to purchase these premises so vital to their future.”
Nick Miller, Manager of Storeroom says:
“There are relatively few buildings that could serve our needs for the storage and distribution of re-usable furniture on the island. Having acquired the adjacent building last year for our Education work, we were delighted to have the support of SASC, Power to Change, Garfield Weston and our solicitors Eldridges to buy the building and secure our future so that we can continue to serve the people of the island.”
The charity is open Tuesdays to Saturdays, 10:00-16:00.
