Ceremony of the keys 1st November 2003 The day after we purchased ‘The Bank’
The Project took seven years to complete at a total cost of £379,800 which included
the following items:-
Purchase of the Freehold £225,000. Building materials, subcontracted work and fees
£113,300, Utilities & Insurance £4,850. Capital equipment (mostly chairs and tables)
£7,000: and fund raising activities £29,500
We received Grants totalling £116,500 including £100,000 from Spelthorne Borough
Council. RAC contributed £83,900 from surpluses accumulated over the 7 year period.
RAC Affiliated Societies and individuals donated £106,300. Gift aid tax refunds were
£11,000 and finally RAC fund raising activities contributed £57,400
We could not have achieved our objective for such a modest sum without the aid of
a number of people who contributed in different ways including the consultants, the
architect and structural engineers who freely gave their services. Many gave equipment
and materials and many of our members gave their time and effort to organise fund
raising and help with the building work. Our building volunteers alone gave up over
6,000 hours of often strenuous effort to convert a bank into The Studio.
Without any of our contributors we would not have achieved what we have today. RAC
thanks them all and hope that the fruits of their labours will be enjoyed by the
local community for many years to come.