How much money do we need?
Until we have finished developing our detailed business plan, which we are able to begin in earnest now that a site for the project has been identified, it is impossible to quote a total cost for the Lenox and its associated museum and visitor centre. By way of comparison, the Hermione replica which was built in La Rochelle in France and sailed to the USA in 2015 cost around £27 million.
Project costs so far
Initial stages of the project were funded by the individuals involved in the Lenox Project, both through financial contributions and through giving professional services for free. Once we registered our group as a community interest company in 2012, we continued to raise money on a small scale for admin costs, legal advice, marketing material and so on. We continue to receive generous donations of money from our many supporters, which help us to cover these basic expenses, and we are indebted to Deptford-based business Lush Designs who donated their Lenox artwork for free and allow us to use it for merchandise.
In 2016 we began the process of converting to a registered charity, and achieved this status on 23 January 2017. We are about to begin the process of applying for more substantial levels of grant funding, and approaching potential sponsors for support. This will enable us to move ahead with our business plan and appoint specialist consultants, advisers, accountants and so on to assist us in this process.