Through our exclusive partnership with Buckingham Finance, our clients (subject to approval) can now fund, build and maintain sports pitches, playing courts or athletics tracks through Finance Leases.
Finance Leases allow you to fund the construction, refurbishment, and maintenance of your sports facilities – with no up front cost – by spreading your investment and VAT costs over time, with competitive interest rates and fixed repayments over periods of 1-7 years.
Find out more about Finance Leases below or get in touch for an informal chat about your project.
A Finance Lease is a form of financing that is particularly beneficial to non-VAT registered organisations, who can spread the cost of VAT due over the length of the agreement.
With a Finance Lease, you can refurbish or build a new sports facility – with no deposit – in return for fixed regular payments over a period of 1-7 years. With the ability to spread VAT over the term, your new facility can be constructed – and generating revenue through hire – helping to offset repayments and pay for itself!
S&C Slatter work closely with Buckingham Finance to provide clients with bespoke Finance Lease solutions which enable you (subject to approval) to fund, build and maintain your sports facilities through one single point of contact.
Utilising a Finance Lease we can install a brand new 3G all-weather sports pitch, floodlighting and fencing from as little as £14,800 per month (subject to site survey, conditions, and specifications) with no deposit required. See our example costs further down the page for more detail.
The key benefit of a Finance Lease is that in enables you to spread the cost of your sports facility construction and maintenance over time.
With zero deposit options, this enables you to refurbish or construct new sports facilities without the need to ever lay out significant capital in one hit.
This includes VAT too. For non-VAT registered organisations, who are unable to claim back VAT on their purchase, Finance Leases enable you to pay back the VAT over the finance term.
Paying overtime, with competitive low-rate repayments, enables you to maintain a healthy cashflow and free up capital to invest in other areas of your organisation.
Finance Leases also come with notable tax benefits. With the full asset value appearing on your balance sheet, Finance Lease payments are treated as an expense item, reducing your taxable income.
With many clients realising significant revenue from sports facility hire, you can even offset your repayment costs with hire revenue, so your new pitch, court or track can help pay for itself!
Below you’ll find a real-world quote for a non-VAT registered organisation wishing to finance the construction of a new full-sized 3G artificial turf pitch (inclusive of fencing and floodlighting) through a Finance Lease.
The example uses Sport England’s latest facility cost figures and is based over 7 years with no deposit and a 3-month deferred payment option. The full balance + VAT is paid back in fixed monthly payments at a 3.5% flat rate over the remainder of the term.
|3G Football Pitch Cost Breakdown|
|Cost Price (Net)||£965,000.00|
|Finance Lease Example|
|Balance Financed||£965,000.00 + VAT|
|81x Monthly Payments||£14,797.66 + VAT|
*Figures quoted are correct at time of writing (May 22) and serve for illustrative purposes only. Contact us for a tailored quote.
In this example, with no deposit and a 3-month deferral, the organisation is able to build their new 3G Pitch without paying a single penny before construction commences.
After 3 months, repayments begin and the club will pay just under £15,000 a month + VAT for their new pitch over the duration of the agreement, with full ownership at the end of the term.
Through our partnership with Buckingham Leasing, we can fund and construct a variety of sports facilities, whether new build or refurbishment.
A number of facilities can also be financed with the inclusion of ancillary features such as fencing and floodlighting in the cost, as well as maintenance packages across the term.
Finance Lease agreements are recommended for the below organisations, if non-VAT registered:
*Elite sports clubs are defined as Premier League/Championship level (football) and equivalent levels across other sports. Due to the ongoing effects of the coronavirus pandemic, finance is not currently available to lower-league and amateur sports clubs as would usually be the case.
If your organisation is VAT registered, then a Hire Purchase Agreement will be a more beneficial finance option, allowing you to claim back VAT.
Credit is available for business users only. Subject to status and acceptance, terms and conditions apply. Administration fees apply. Finance agreements are arranged by Buckingham Leasing Limited, authorised and regulated by the Financial Conduct Authority FRN: 671552, Company Registration No: 4637226. Buckingham Leasing are acting as a credit broker and not a lender. Registered address: Waterfield House, Wellmore, Foscott Road, Maids Moreton, England, MK18 1QQ.