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Process and Rationale for Ethical, Cooperative Asset Management by The Lewes Exhibition Fund

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Process Proposal

The Lewes Exhibition Fund holds a £1 million asset base, primarily in residential and commercial property. To fulfil its founding purpose of supporting local opportunity and social equity in Lewes, the charity should transition from using commercial managing agents (such as Oakleys) to a cooperative management model. This process involves four key stages:

Formation of a Cooperative Management Entity The charity would partner with, or help establish, a cooperative structure that includes both commercial and residential tenants as members. Membership confers both participation and responsibility—each property user becomes part of the decision-making and management process.

Internalisation of Management Functions Management activities currently outsourced to commercial agents—rent collection, maintenance coordination, tenant liaison, and lettings—would be coordinated within the cooperative. Professional support (legal, accounting, surveying) can be procured ethically as needed, but the cooperative would act as the primary management body rather than a profit-extracting intermediary.

Membership Integration and Local Governance Each of the charity’s residential tenants and commercial occupants would become members of the cooperative. They would collectively manage property-related decisions under agreed principles of fairness, transparency, and financial prudence. The charity itself would maintain oversight, ensuring compliance with charity law and alignment with its objects.

Leveraging Assets for Ethical Growth Once operating as a cooperative-managed entity, the charity can present a stronger, values-aligned proposition to ethical lenders such as Triodos Bank, Ethical Building Society, or Unity Trust Bank. With its assets valued at £1 million, the charity could borrow against up to 75% of total asset value. If it acquires an additional £1 million in property, its total assets would be £2 million, allowing borrowing of approximately £1.5 million. This financing could expand its property base, preserving and creating affordable spaces for residents and local enterprises.

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Rationale

This approach reinvigorates The Lewes Exhibition Fund’s founding mission—supporting the people and enterprises of Lewes—by aligning its asset management with social purpose rather than commercial gain.

Ethical and Equitable Management: Moving away from commercial agents removes profit extraction from the charity’s operations. A cooperative model ensures value circulates locally and decisions are made for community benefit, not private return.

Local Empowerment and Participation: Giving tenants and shop occupants membership rights fosters stewardship and accountability. Those who use the spaces are best positioned to manage them fairly, creating sustainable tenancies and mutual trust.

Economic Leverage for Community Benefit: Borrowing against existing assets with ethical lenders enables the Fund to expand its property base—securing more affordable spaces and safeguarding local identity against speculative pressures.

Resilience Against Gentrification: Lewes is increasingly shaped by wealth concentration and escalating property values. The charity has both the means and the moral mandate to intervene—using its assets not passively, but proactively—to counter exclusionary economic trends.

Through this process, The Lewes Exhibition Fund can redefine its role as an anchor of local equity: building a cooperative infrastructure that sustains affordable living, local enterprise, and community wellbeing in perpetuity.

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