Update on the Dug Out

On 4 October, we reported that Wellspring Settlement was considering selling the Dug Out building due to financial difficulties the organisation is facing. We have now proceeded to instruct an estate agent to market the property for sale and this will soon go live.

As a charity, we face significant financial challenges that require us to make difficult decisions, including about the building that has been home to the local boxing club for the past decade. Despite the club’s valuable contributions to the community, the costs of maintaining the building far exceed the rent paid by the club. As such, maintaining the building in its current form is no longer financially viable for us. We have been exploring other possible solutions to this with the boxing club for some months but have not yet been able to reach an alternative solution.

To address the financial risks, trustees have agreed to market the building for sale to explore whether a buyer can be found. We have an opportunity to put our finances on a more secure footing if we can raise money from the sale. This represents a crucial step towards securing the future sustainability of our work for the long term.

We want to reassure the community that we remain committed to supporting the boxing club throughout this process. We are working closely with the club’s coaches to identify suitable alternative premises that will allow them to continue their important work in providing opportunities for local young people.

We understand the community has a strong attachment to this building, and we are committed to being transparent as we move forward. While this transition may be challenging, we are optimistic about securing a future for both the charity and the boxing club, where we can both continue to deliver positive community outcomes.

For further information, please contact info@wsb.org.uk