Social Enterprise CAN Mezzanine saves Third Sector more than £2.2m every year

CAN Mezzanine, the social enterprise providing serviced-office space to charities and social enterprises, saves the Third Sector in excess of £2.2m every year, according to independent social impact findings.

The social enterprise, which to date runs two sites in central London with a third opening in 2008, saves organisations more than £5,000 for every desk rented. It houses 92 charities and social enterprises and rents space per desk with three months’ notice, allowing organisations to increase or reduce their space according to their needs.

The survey found that CAN Mezzanine is 55% cheaper than the average price of the three main private sector office space providers. CAN Mezzanine began its shared office space concept in 2000, and since opening its London Bridge site in 2004, has generated savings of more than £5m to Third Sector organisations by providing high-quality affordable shared office space.

“Social enterprises and charities choose to live in our buildings because of four critical reasons: price, quality, security of tenure and location,” says Andrew Croft, CAN Mezzanine Director. “We keep our prices down through maximising utilisation, cost control and re-investment of surplus/profit without any shareholders demanding a dividend. We are confident in the quality of our product and for that reason, confident to compete against private sector office space providers.”

Research in 2006 by the London Social Economy Taskforce found that 50% of social enterprises had less than five years remaining on their tenure. Short-term funding was reported as a huge hurdle to acquiring their own property and even those social enterprises managing their own property, cited problems with conditions and up keep.

CAN Mezzanine’s mission is to ensure Third Sector doesn’t mean third rate in accommodation for growing social organisations. The offices provide meeting rooms, conference rooms, reception and back office support and fully-serviced kitchens supplying Fairtrade products all included in the per desk space. Last year CAN Mezzanine spent more than £9k in Fairtrade products. All support staff are paid at least the London Living Wage and materials are collected and recycled by a local social enterprise.

“CAN Mezzanine is a sustainable social enterprise replicating its impact by reinvesting its surplus for the benefit of its customers. We are proud to house some of the leading names in social change, both here and abroad,” he added. Customers include leading social enterprise Belu Water, TimeBank, Women’s Aid, WWF, Green-Works, Sense International, the British Youth Council and the Diana Memorial Award.

In 2006 CAN Mezzanine won a national Charity Award in recognition of its support to the Third Sector. In early 2008, CAN Mezzanine is due to open its 3rd site with space for 440 desks in north London and then plans to replicate outside London.

ENDS

Enquiries

For all press enquiries and interviews please contact:

Kate Markey: +44 (0) 20 7922 7761 +44 (0) 7738 195 503
k.markey@can-online.org.uk

Notes to Editors

About CAN o Founded in 1998, CAN (formerly Community Action Network) was the vision of three innovators of social change. The founding partners were Andrew Mawson, Adele Blakebrough and Helen Taylor Thompson. 

CAN Mezzanine (itself a registered charity) is the social enterprise founded by CAN who remain its sole member.

CAN is now recognised as one of the UK's leading organisations for the development, promotion and support of social entrepreneurs and social enterprises. It runs CAN Social Investment (which includes the social investment programme Breakthrough), leveraging business support from leading private sector companies, including Sony, Bain & Company and Permira. 

The SROI study findings based on 2005/2006 social impact of London Bridge site.

www.can-online.org.uk