About

Summary

The BLCF (Bedfordshire and Luton Community Foundation) required a Market Needs Study for a proposed Charity Hub, a shared/co-working and rentable office space with meeting rooms, aimed at grassroots and small charities at a market affordable rent. Acorn was commissioned to research the rental needs of charities in the county, the current commercial rental market, potential demand, and develop a model to project occupancy, revenue and operational costs. 

Our Approach

Acorn conducted an online survey amongst BLCF’s database of charities and grassroots businesses to generate a good understanding of challenges faced by charities when they rent or own premises, and to find what their rental needs might be and to assess the level of interest in such a scheme. This primary research would help identify which charities could be approached as ‘early adopters’ of the scheme. Acorn also conducted research amongst commercial rental agencies in the county to gather data on rates, tenancy terms and conditions to help BLCF ensure they are aware of the requirements in this area. 

Finally, based on the research gathered, Acorn developed a financial model to clearly identify the impacts that changes on key inputs such as occupancy, rates, support services, income from a café or retail operation. 

Outcome

There was a good level of interest in the scheme, and a number of charities expressed a good level of interest in the Charity Hub. Acorn identified a range of potential options for the layout of building that included spaces for different sized organisations, meeting space rental and possible retail opportunities.