Stour Trust

The challenge

Across London, very few assets are owned by Black and minoritised communities. Since the pandemic, the racial wealth gap is likely to have grown. This means that Black and minoritised-led businesses seeking to start or grow face huge challenges.

A lack of affordable assets combines with gentrification to drive people and businesses away from their communities. Complex planning systems also often lock Black and minoritised people out of the benefits of new developments.

The project

Stour Trust is working to increase the number of buildings and assets owned and managed by Black and minoritised communities. The team has a successful track record in this area, securing long-term leases on buildings available to Black and minoritised businesses at peppercorn (or genuinely affordable) rent, and with close links to the Greater London Authority (GLA) and local authorities.

Our grant will help the Stour Trust to accelerate this mission. Work will include:

1. Research to evidence the lack of access to affordable assets by Black and minoritised communities.
2. Work with the GLA and local authorities to strengthen policies in this area.
3. Partnerships with developers to increase the number of affordable work and community spaces, as well as homes, available to Black and minoritised Londoners.
4. Development of a knowledge hub to help Black and minoritised groups to better understand routes to asset acquisition.

Through this work, the Stour Trust will create long-term and lasting impact in boosting resource and asset ownership of Black and minoritised communities across London.