Maintaining accessible spaces for local Black women to build their businesses in the face of gentrification

Key information

• Partner: Peckham Palms 

• Amount: £520,021

• Duration: 5 years 

• Programme: Financial foundations for adult health 

Background 

Health, wealth and racism are inextricably linked. Where we work in Lambeth and Southwark, our research has shown that people who are struggling financially report far lower levels of good health (43%) than those who describe themselves as financially comfortable (80%). Structural racism makes this worse for some; rates for long-term illnesses are higher for Black and minoritised communities, who are also more likely to be stuck on a lower income, forced to live in unsuitable housing, and trapped in unhealthy jobs.  

Peckham Palms is a majority Black-owned social, commercial landlord that aims to maintain accessible spaces for local Black women to build their businesses in the face of gentrification. They seek to create more diversity on the high street and within the hair, beauty, retail, food and creative sectors. A partnership with Peckham Palms is an opportunity to support a unique and equitable landlord model that we believe should be replicated across London and other urban areas.  

Aims of the partnership

Our five-year partnership with Peckham Palms aims to support the organisation to deliver against its ambitious strategy. Peckham Palm’s goals over the next five years include:  

• Building a stronger, more robust organisation with routes to long-term sustainability; 

• Modelling what a social purpose landlord looks like and maintaining strong relationships with and support for tenants that centres their wellbeing.  

• Continuing to put on engaging events that showcase local businesses and organisations, and brings the community together; 

• Telling the story of Peckham Palms, showcasing its one-of-a-kind model and demonstrating how it supports underserved communities, ultimately contributing to a more inclusive local economy. 

Peckham Palms offers an exciting landlord model that demonstrates how a more ethical approach can support tenants’ health and wellbeing while providing a foundation for building greater financial security and stronger businesses. 

Connection to our strategy

The Equitable Financial Futures portfolio in the financial foundations for adult health programme supports Lambeth and Southwark residents to build financial freedom through an approach grounded in Community Wealth Building principles.  

We develop partnerships with organisations that improve access to and sustainment of entrepreneurship and microbusinesses, because we believe that with the right funding, visibility, and policies, these entities can support marginalised communities to generate and maintain wealth within the community.  

Our investments centre race equity and are place-based, and include one or more of the following characteristics, as these have the potential to advance wider systems change:  

• Offers equitable and affordable access to space;  

• Is scalable or replicable;  

• Is income generating;  

• Seeks to build power through network development or other forms of collaboration;  

• Engages in policy influencing and advocacy. 

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