Over the coming months the Trust will be developing detailed plans for where the additional investment will be used, ahead of the five-year upgrade programme beginning this winter.
Improving services
The investment in our boaters’ facilities is in addition to the annual cost of maintaining and looking after them. The money needed to upgrade the boaters’ facilities will come from the sale of investment assets owned by us. Our investment assets are a vital pillar in generating a sustainable annual income each year for waterways maintenance. This sale is exceptional and has been agreed as we expect that providing more resilient services for boaters will deliver cost savings which offset any income lost from the sale of the investments in the longer-term.
The investment comes as we continue to focus on improving navigation and the services provided for boaters through its Better Boating Plan.
Vital for those living and cruising on our network
Matthew Symonds, head of boating, said: “Boater facilities are vital for those living on and cruising around our network. Those owned by the Trust have been operated and managed locally, which has resulted in a wide range of components and arrangements which can be expensive and complex to repair when things go wrong. With this £4.5 million investment, we are spending now to be more efficient in the long term. By upgrading and standardising the facilities, we expect to see some cost savings for our charity in the longer term, while aiming for boaters to receive a more consistent service.”
Details of how the £4.5m will be invested to deliver improved facilities will be shared in due course.
