Client Case Study
Pitzhanger Manor & Gallery
Business Plan Review and New NLHF Business Plan and Income Generation Strategy
Pitzhanger Manor & Art Gallery is in and is the hub of Walpole Park (28 acres (110,000 m2) Grade II municipal park, situated in Ealing (West London). Currently governed by Ealing Council).
Pitzhanger Manor & Gallery Trust was established, taking responsibility from Ealing Council for the £11m NLHF funded re-development of the Manor & Art Gallery, which included the three-year transition period before re-opening.
The Trust appointed BJA to review the original business plan, which successfully secured the NLHF funding. However, the Trust was sceptical that it was achievable or sustainable.
Following this review, BJA was appointed to develop a new business plan for the project. This plan included a clear visitor experience and income generation strategy, which was far more commercial and realistic in its approach. The plan also had the visitor and financial projections, looking at the use of space covering each phase of the customer journey.
As with all BJA project business plans and income generation strategies, the aim was to reduce the reliance on notoriously difficult and unrealistic revenue fundraising targets. Instead, a new operating model was set up, which was much more realistic and financially sustainable.
The new business plan included new and clear visitor projections and experience, an income generation strategy, transparent profit and loss accounts and the main assumptions, including what needed to be done to achieve them. Furthermore, cash flow, sensitivity analysis, a new operating model and reassessment of the main risks were also detailed. As a result, the plan was realistic, robust, practical, identified the real commercial potential, how this could best be achieved and provided a sustainable management and operating model for the delivery phase and five years post-delivery.
The plan was realistic, robust, practical, identified the real commercial potential, how this could best be achieved and provided a sustainable management and operating model for the delivery phase and five years post-delivery.
The business plan was approved by Ealing Council, the NLHF and Pitzhanger Manor Trust.
Pitzhanger re-opened and was voted one of the top twelve restoration projects in the United Kingdom over the last decade by ‘Country Life’ Magazine.