THE OWNERS of the White Rock Hotel have bought £10,000 worth of shares in the new Hastings Pier.
The move is aimed at stimulating other businesses to make a similar gesture to show their commitment to the rebirth of the iconic landmark.
It is believed to be the largest purchase by a business in the borough. Work is under way to rebuild the historic structure. The lion’s share of the money for the rebuilding project is to come from the Heritage Lottery Fund (£11.4 million), with significant amounts from the Coastal Communities Fund, the Community Assets Fund, Hastings Borough Council and the East Sussex Invest fund from East Sussex County Council.
The Pier Charity states it has raised £13.7 million but we need to raise another £500,000 to finish the job. The pier is due to reopen next year.
Laurence Bell, director of the White Rock Hotel, said: “This is a real commitment to the cause from us. And we want to lead the way and ask other businesses to put their hands in their pockets.
“It’s not just tourism businesses like ours that will benefit from the regeneration of the Pier. Many local companies will gain, directly from the work itself, from new visitors to the town and because the new pier will make Hastings an even better place to live and work. It will therefore attract even more investment into the town.”
“I don’t think businesses realise that they can buy Community Shares in their business name” said Sonia Blizzard, of local broadband specialists Beaming Ltd. “Although businesses don’t
get the tax advantages that private individuals can get, it is still a good way for local business people to invest in their town and they retain an asset they can cash-in at a later date.”
Chief executive of the Hastings Pier Charity said “If local businesses can find it in their hearts to help Hastings Pier Charity in any way at this final hurdle we will be extremely grateful and we will find a way to acknowledge their contribution when we open.”
The White Rock Hotel is so keen to help Hastings Pier Charity reach the target for local support set by the big funders of the project including The National Lottery, they have promised they will hold an exclusive reception at the hotel for all businesses contributing £1000 or more by way of donation or the purchase of Community Shares.
The reception will be held around the date of the official opening of the Pier in Spring 2015. ny business making a qualifying contribution (£1000 or over), can contact The White Rock Hotel
at firstname.lastname@example.org to pre-register for an invitation to the business reception or call 01424 422240