City Bridge Trust
From Wikipedia, the free encyclopedia
The City Bridge Trust, formerly known as Bridge House Estates or the Bridge House Trust is an ancient London-based trust, still in operation today. Originally established by Royal Charter in 1282 (but able to trace its origins back to as early as 1097) to maintain London Bridge, it later rebuilt it several times and built Blackfriars Bridge and Tower Bridge. It also purchased Southwark Bridge from the toll-exacting private company that had built it, and most recently took over ownership and maintenance of the new pedestrian-only Millennium Bridge, having provided a large amount of the funding for its construction.
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[edit] Bridge House
The Trust took its name from Bridge House, which was the administrative and maintenance centre of Old London Bridge located on the south bank of the River Thames , near the site of St Olave's Church (since replaced by St Olaf House in Tooley Street). The site was constituted of at least two properties in Southwark. The first was that of Peter de Colechurch the warden of the bridge from 1163 and probably a monastic dwelling. The second property was the house left by will of Henry Fitz Ailwyn, first named Mayor of London, in 1215.
The bridge became part of the City's jurisdiction from 1282, and this led to the City attempting to extend control into Southwark, succeeding in acquiring the 'vill of Southwark' alias the 'Guildable Manor' in 1327.
[edit] Logo
Known as The Bridge Mark, the logo of Bridge House Estates was one of the earliest logos ever in continuous use and can be found carved into stonework in many places along the riverfront. It has been the identifying emblem of the Trust for many centuries. The City Bridge Trust now uses the City of London arms as an emblem.
It is likely that the mark as we know it today was designed by a famous seventeenth century surveyor, William Leybourn, who is thought to have adapted a similar mark drawn against plots owned by Bridge House Estates on an earlier plan of St George's Fields
[edit] Trustees
The sole trustee is the City of London Corporation. The trustee does not own the property of the trust – it may only be used for the legitimate purposes for which the fund was created.
[edit] Finances
Originally funded by tolls on London Bridge, and also by charitable donations, the Bridge House Estates Trust acquired an extensive property portfolio which made it self-sufficient.
The Fund administered by the Bridge House Estates is solely responsible for the five City Bridges. There is no financial support from the Government or any other fund. If one of the bridges happened to collapse, the Charity would have to rebuild it out of its own resources, and the Trust sets aside money to provide for this possibility
As well as maintaining the bridges, the accumulation of surplus funds has led the Trust to implement a Cy Prés scheme to extend its objects (purposes) since September 1995 to make charitable grants within the Greater London area.
In 2003, total income of the Bridge House Estates Trust was nearly £35 million, and total expenditure under £29 million. The total funds held by the Trust are in excess of £500 million.
[edit] Governing documents
In addition to its Royal Charter of 1282, the Bridge House Estates Trust takes its authority from the Blackfriars Bridge Act 1863, the Blackfriars and Southwark Bridge Act 1867, the Corporation of London (Tower Bridge) Act 1885, the Charities (The Bridge House Estates) Order 1995 (Statutory Instrument 1047), and the Charities (The Bridge House Estates) Order 2001 (Statutory Instrument 4017).
