Adrenaline Alley, the Corby-based skate park run as a charitable enterprise, now owns its premises after a £900,000 loan from Charity Bank.
By purchasing the 7.5 acre site, home to its multi-complex with more than 120,000 sq ft of ramps, Adrenaline Alley can continue to expand and have the flexibility to adapt quickly to trends within the urban sports industry, ensuring its revenues continue to grow.
The funding has enabled us to take a big step towards sustainability and security for the future so we can continue John’s legacyMandy Young
It now owns the freehold and no longer requires lease or rent agreements, and it has increased its chances of winning new grant funding to support new projects as funders seek greater security for their own investments.
Adrenaline Alley was set up by Mandy Young and her husband Paul in 2002 after their son John was attacked in the street at the age of 14 because he was carrying a skateboard.
Following the attack they consulted with the local community with the aim of providing a safe and secure facility for young people to skateboard, BMX and scoot.
The charity moved to its current location in Priors Haw Road in 2006 with the help of Alfie Buller, the original land owner
Mandy Young, co-founder and development director, sayid: “Crucially the funding has enabled us to take a big step towards sustainability and security for the future so we can continue John’s legacy.
“It means we have the freedom to adapt and change the facility and services we offer to move with the trends and most importantly manage the charity in the best way possible.
“The backing we’re receiving improves our image, people’s perceptions of the charity and gives staff confidence that we’re here for the long term, safe in the knowledge that our business mission, vision and goals are worth investing in.”
David Laing, chairman of Adrenaline Alley, said: “As the charity grows, so does the number of children and young adults we cater for and we’re continually working with them to provide additional activities such as our training club, weekly camera club, filming and art projects, volunteering and part-time work.
“Young people attending the facility can fulfil their potential, build confidence and skills and potentially gain work with us in the future.”
The skate park, the largest of its kind in the UK, is constantly evolving to maintain its position as a leader in urban sports.
Earlier this month, it opened its new outdoor concrete plaza funded by WREN, an innovative park design for all types of skating.
Peter Hughes, Charity Bank regional manager, said: “Our mission is to support Adrenaline Alley in its mission to provide a safe and secure environment for young people to take part in urban sports.
“The charity describes itself as the ‘Wembley of Urban Sports’ and we welcome its aim to become a training academy, so that it can help other communities set up successful skate parks to enrich the lives of their young people.”
Charity Bank is a bank which uses the money its savers entrust to it to make loans solely to charities and social enterprises.
Since 2002, Charity Bank has issued loan approvals of more than £240 million to charities and social enterprises.