PrinceΓÇÖs Foundation to Merge London Office Space
The Central London office space used by Prince CharlesΓÇÖs Charities Foundation is too expensive and will relocate to less expensive offices in an attempt cuts costs according to a report published in The Sunday Telegraph.
According to the report the existing office space, some of which are located in premium locations in SW1, will be relocated to a centralised office near Kings Cross Station. The move, which it is hoped will generate saving of hundreds of thousands of pounds each year, comes after the charity endured financial set-backs due to the recession and a drop in property values.
The Foundation, which comprises of 20 charities ΓÇô 10 of which were personally founded by Prince Charles, raises ┬ú100m annually and supports a wide range of areas that include Opportunity & Enterprise, Responsible Business, Education and Health.
At a time in which ΓÇ£austerityΓÇ¥ seems to be the word of the moment, the decision of the Foundation to relocate to a single office space location within Central London follows in the footsteps of many big businesses and government departments as they each take a look at the impact of property upon their finances.
While these actions appear to be arriving hand-in-hand with job cuts in the public sector, the affirmative action of the Prince CharlesΓÇÖs Charities Foundation to reduce its office space costs appears to hold no such pitfalls ΓÇô instead the saving should allow the Foundation to regain its footing and continue to deliver the outstanding levels of charitable support it has created since its inception in 1976.