Fast track funding - Fast Track Funding - England Hockey
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Fast Track Funding
fast track funding
www.nottssport.com
5 years 24 projects £359k average £8.62m funded
Contents
About Notts Sport
What is Fast Track Funding
How Does it Work
Fast Track Funding: the History
Who Have We Worked With
Testimonials
What is the Process
What are the Benefits
How Much Revenue
How Much is a New Pitch Build
How Much is a Pitch Resurface
What is the First Step to Funding
Professional - Enthusiastic - Innovative - Honest - Supportive
OFFICIAL PARTNER
ABOUT NOTTS SPORT Notts Sport is a leading specialist in the design and supply of synthetic surfacing systems for sport, play and leisure. Based in the UK and with distributors all over the world, the company’s expert staff provide design solutions, supply systems and components, and advise on every aspect of creating the right installation. Notts Sport’s heritage is one of experience in providing a growing portfolio of clients with objective solutions, leaving them in full control of their sports, play or landscaping project, whilst guiding them through the design and installation. The company has built a world-class reputation and is the preferred synthetic surfacing supplier for many schools, clubs and regional, national and international sports bodies, as well as local authorities in the UK and Europe. The company also works with national and international bodies to ensure the development of sport and play opportunities for all.
WHAT IS FAST TRACK FUNDING?
Unique to Notts Sport, Fast Track Funding is a proven method for all Schools, Academies, Independent Schools & Colleges as well as Universities and Local Authorities to achieve their vision and strategy for external sport, cricket & play facilities without any upfront capital costs necessary. Through this innovative, non traditional funding route we provide a completely flexible solution that enables each and every customer to enjoy world class, state of the art synthetic turf sports facilities that can immediately become a new income stream through external lettings to local sports teams & groups, quickly becoming a valued community asset. Originally developed to offer funding solutions for customers with existing sports pitches in need of refurbishment, Fast Track Funding has now evolved to a complete solution for any customer looking to deliver any type of sport, play or cricket facility, large or small. Indeed, since its implementation in 2012, Fast Track Funding has helped to provide a viable solution for over 24 customers, including Independent Schools, for their new or resurfaced sport, play and multi-use facilities. Developing a robust & sustainable long term business & financial plan is achievable because the majority of sports facilities are able to generate significant revenue through partnerships with local sports teams & community groups, strengthening bonds in those key sectors for many customers. This income can be used to contribute, or very often cover, the cost of the project meaning that the facility in effect pays for itself during the funding period which is any period up to a maximum of 7 years. As always, Notts Sport works closely with each individual customer to design, develop & deliver a facility that is bespoke for your needs, requirements and vision. Whether it’s a brand new project or a refurbishment of an existing pitch, a new sport, play or cricket facility can be installed in as little as 10 weeks & we will provide advice & support for every customer to help maximise use & lettings to support the business case developed for the new scheme so it can immediately start to pay for itself, taking the burden off your existing budgets and finances. 8 what is fast track funding?
On every Fast Track Funding scheme Notts Sport works in partnership with UniLink Finance, an established asset finance and leasing advisor to the public and corporate sector, who are able to facilitate funding. The funding can be used to cover the entire project cost, or in combination with existing loans or budgets. Fast Track Funding can be arranged through a flexible operating lease format which has been approved by independent auditors and the Education Funding Agency as a true operating lease; meaning that Notts Sport work at risk to ensure construction runs with minimal financial strain to the school. We provide a fixed rate operating lease agreement for the entire funding period, instead of financing or loans. The customer can repay the amount over up to 7 years, with the option to own the facility at the end of the funding period. The initiative is also available for both independent, private and commercial sectors, subject to approval. Indeed, in 2017 Notts Sport completed the first independent school Fast Track Funding package for a new build hockey pitch. Notts Sport offer customers a unique Design and Advice service on all multi sport and synthetic pitch projects. This service is at no additional cost to our traditional business premise and income route of supplying specialist synthetic components, allowing customers the full benefit of a bespoke facility designed from scratch, with expert industry advice and guidance provided as standard throughout the process, with no upfront fee. how does it work? 11
5 years
2010
Notts Sport develop the initial concept of a non
traditional funding route
2011
Fast Track Funding launches to UK schools and
academies
2012
Notts Sport begin working with UniLink Finance
Notts Sport run the first Fast Track Funding seminars
throughout UK
2013
Whitefield School become the first ever Fast Track
Funded project
The EFA advises that the Secretary of State provides
consent for Fast Track Funding on sports pitch
projects
2014
3 more school projects are completed through Fast
Track Funding
2015
6 schools use Fast Track Funding after meeting
Notts Sport at the 2013/14 seminars
2016
Notts Sport completes 20th project via the Fast
Track Funding seminars
2017
October 2017, the total amount funded for Notts
sport projects reaches £8.62m with more in the
pipeline
First Independent School project completed
FTF: THE HISTORY 1324 projects
Through the Fast Track Funding seminars, Notts Sport have enabled 24
schools to build or refurbish a synthetic sports facility or playground since
the initiative began, listed below:
Richmond School
Whitefield School
Hamilton College
St. Richard Gwyn RC High School
St. Matthews RC High School
Greenshaw School
Dixie Grammar School
Hermitage Academy
Plumcroft Primary School
Crestwood School
Stanwell School
Arnewood School
Crofton Academy
Parklands High School
St. Peter and St. Paul Academy
Warden Park Academy
St. Edwards College
Woodkirk Academy
Christs College Finchley
Walton Le Dale Arts College
Aston Manor Academy
Catholic High School
Cambourne Village College
St. Anselms School
who have we worked with? 15£359k average
“The Fast Track Funding process is really straight forward. I would recommend it to anyone because there is no way that we could have afforded a new sports pitch another way. Now we’re bringing money into the school, the kids have got a fantastic state of the art facility and it’s great PR. There is no catch: I was very hesitant to enter into a lease where the school was taking on debt, but actually it’s a no brainer. West Hampstead Hockey Club now play their home games on our pitch, and do some coaching for our kids. It’s a win-win situation. We were looking to pay back around £60,000 a year, but we actually just about doubled that.” Martin Lavelle, Headmaster “The most important reason to choose Fast Track Funding is to improve cash flow for the school. If you haven’t got the means or resources available at the outset to pay for a sports facility you can use the program to implement the project immediately, and repay the lease over the lifetime of the asset, through rentals. We provide a fully comprehensive service, explaining how the lease works in straight forward terms. It is a convenient and easy method of finance that fully complies with education rules, and has EFA approval.” Andrew Moss, Director UniLink “If you haven’t got the finance to pay for a new pitch outright then I’d definitely recommend Fast Track Funding. We now have proactive PE lessons that wouldn’t have taken place before. We’ve also had over 1000 community users during evenings and weekends and the feedback has been outstanding. Notts Sport have been fantastic from start to finish. They’ve been at every meeting we’ve had with the stakeholders and partners, offering to come and speak to the governors which was very important to us.” Martin Jordan, Director of Sport testimonials 17
£8.6m funded
christs college finchley woodkirk academy warden park academy
WHAT IS the process?
Fast Track Funding is designed to be a simple, quick and easy for any customer in any sector. The design & technical expertise, experience & knowledge our team of in house Project Development Managers offer customers through our unrivalled Design & Advisory Service will help you identify the perfect solution for your sport, play or cricket project, set against your individual project parameters. We then provide both capital cost estimates and various funding options so you can explore either full or part funding for the project with a decision made on your funding application within two weeks. With most facilities able to generate revenue through external lettings to local sports teams, community groups & other commercial options, our Project Development Managers will guide you on how to make a return on your facility. Often, letting the facility for around 30 hours per week through the Autumn & Winter will cover the cost of a Fast Track Funding project, whilst we will also offer advice & support on ways to maximise bookings throughout the year. Once an agreement in principle is achieved on the design & level of funding, we will complete a fully compliant, competitive tender process run as a traditional lump sum tender so there are no hidden surprises post tender. This then sets the contract sum and identifies the preferred pitch builder at which point Unilink complete the necessary funding paperwork, working with your auditors and/or any procurement requirements to finalise the exact amount of funding needed. Notts Sport & Unilink are committed to each and every scheme by working “at risk” and only making a return if & when the project reaches the construction stage. Until then we aim to give your vision the best chance possible of becoming a reality, offering expert advice and support at all stages to achieve that goal. WHAT IS THE PROCESS? 24
Notts Sport Service Stages
1. Project Development
Project Appraisal
Budgeting
Planning Consultancy
Design Consultancy
2. Design & Specification
Site Investigation/Survey
Design Evaluation
(including fencing, parking & lighting)
Technical Specification
Tender Package Preview
Tender Evaluation
3. Supply & Pitch Construction
Contractor Appointment
Contract Management
CDM Coordination
Quality Control – Materials & Build
Maintenance Advice/Instruction
Handover
4. Post Construction
Ongoing Condition Reports & Surveys
Monitoring & Evaluation
Ongoing Maintenance AdviceNotts Sport will guide you through the installation process, providing a
complete service from the outset. Your project will develop in stages, as
outlined below:
Manufacturing Partners
Notts Sport
Sports Governing Schools &
Clubs Bodies Colleges
Design Agreement / Specification
Tender
Contracting Partners
Fast Track Funding Existing Budgets
Completion
Maintenance After Sales
FAST TRACK FUNDING STAGES 27WHAT are the benefits?
99 Fast Track Funding means that a synthetic sport, play or cricket
facility can be installed without any upfront contribution or
cost
99 Fast Track Funding spreads the cost of your scheme over a
period of up to 7 years & income generated from external
lettings will contribute or even cover funding costs
99 Fast Track Funding is a unique package developed and
delivered by synthetic turf experts Notts Sport & funding
experts Unilink Ltd who are specialists in education & local
authority sectors
99 Fast Track Funding can be used for any synthetic turf sport,
play or cricket scheme either to cover the entire project cost
or to top up existing funding and budgets
99 Fast Track Funding can include ancillary features such as access
paths, additional sports facilities (e.g. jump pits, macadam
courts etc) and even any parking requirements
99 Unilink & Notts Sport work entirely “at risk” throughout the
development & design stages, giving you the best chance
possible of achieving your vision and goals without incurring
expensive development & consultant costs
99 Post completion, Notts Sport can introduce our partners
Kajima & School Lettings Solutions who take the hassle factor
out of bookings & facility management by provide booking
systems, site management & marketing support to maximise
the external use of the finished project
99 Completed facilities will help to strengthen community links &
raise the profile of the school, club or leisure centre, attracting
new customers to other areas of your site
WHAT are the benefits? 32how much revenue?
Hiring your new facility out to the local community can be a fantastic way to generate income to cover repayments in the short term, and provide valuable profits for the school or club going into the future. Different surfaces can generate a greater income, with 3G football pitches and high quality sand dressed hockey grasses proving the most lucrative. Popular team games such as five-a-side football or non traditional sports can sustain bookings regularly throughout the year, and kids’ clubs and summer camps can be a great way to generate revenue during holiday periods. It is critical to establish how much demand there is in the local area before choosing your surface if income generation is key to the feasibility of the scheme. A proven way to establish demand is by hosting an open day to encourage clubs and teams from the surrounding area to fill out requirement forms. The prices for rental vary depending on locations within the UK: metropolitan and urban areas can charge as much as £130 per hour for full size pitch rentals. Cross field pitches are the most popular way to let due to the range of hire rates, which also vary across the UK. A typical site can be expected to generate £30-£40 per hour. Notts Sport will be able to advise upon the best way to let your sports facility for use within the local community, and can put you in contact with our partners Schools Letting Solutions and Kajima Community. These lettings specialists can facilitate a rental system tailored to your school’s needs, including: organising marketing, booking software and payments, sourcing staff to manage the site and maximising income with no extra cost to the school. how much revenue? 37
• Construction of a new full size synthetic pitch costs an
estimated £550,000 + VAT, based on working on a greenfield
site with no major constraints or underlying issues.
• The maintenance package generally costs £500 per visit with
6 visits per year for a sand filled/dressed facility.*
• Yearly condition checks are included free of charge by Notts
Sport.
New Build 3G = £550,000 + VAT
Projected cost over a 5 year period:
Payment £0 £50,000 £150,000 £250,000
Frequency Deposit Deposit Deposit Deposit
Annual £112,794 £102,540 £82,032 £61,524
Final 6th
£104,060 £94,600 £75,680 £56,760
Payment
Projected cost over a 7 year period:
Payment £0 £50,000 £150,000 £250,000
Frequency Deposit Deposit Deposit Deposit
Annual £84,893 £77,175 £61,740 £46,305
Final 6th
£98,010 £89,100 £71,280 £53,460
Payment
*Estimated costs provided above are typical of recently completed projects.
Notts Sport would be pleased to provide a specific costing for your individual
project.
Maintenance is a revenue item not included in Fast Track Funding.
how much is a new pitch? 39• To resurface an existing full size synthetic pitch costs an
estimated £210,000 + VAT, based on replacing the synthetic
grass and shockpad remediation.
• The maintenance package generally costs £500 per visit, with
6 visits per year for a sand filled/dressed facility.*
• Notts Sport include free yearly condition tests.
Resurface = £210,000 + VAT
Projected cost over a 5 year period:
Payment £0 £50,000 £150,000
Frequency Deposit Deposit Deposit
Annual £43,067 £32,813 £12,305
Final 6th
£39,732 £30,272 £11,352
Payment
Projected cost over a 7 year period:
Payment £0 £50,000 £150,000
Frequency Deposit Deposit Deposit
Annual £32,414 £24,696 £9,261
Final 6th
£37,422 £28,512 £10,692
Payment
*Estimated costs provided above are typical of recently completed projects.
Notts Sport would be pleased to provide a specific costing for your individual
project.
Maintenance is a revenue item not included in Fast Track Funding.WHAT is the
first step to
funding?To kick start your Fast Track Funding project, the first step is to speak to a Notts Sport representative who will be able to arrange a consultation and site visit. From here you will receive a fully comprehensive feasibility report to establish your vision and project brief with initial designs, cost estimates and funding projections. This first step ensures that you have a detailed working document against which you can make informed decisions regarding your scheme. This initial stage is completely free and is designed to provide you with the best information at the earliest opportunity, improving the likelihood that your ideal pitch will become a reality. Contact a Notts Sport representative by calling 01455 883 730 or email us at info@nottssport.com. what is the first step? 47
funding the future of sport.
Funding the future of sport. t. 01455 883 730 e. info@nottssport.com w. www.nottssport.com
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