Tenacious dream kept afloat

The charity, which offers sailing experience to thousands of disabled people, was in desperate need of money after the Government called in an outstanding £2.3million loan.

Trust chairman Tom Stewart said: “That loan was crippling us. We were under pressure to sell one of the ships to repay the debt and that would have been a tragedy. So I’m delighted Peter Harrison stepped in.”

One of the sailing trust’s patrons, broadcaster Peter Snow, got in touch with Mr Harrison, to ask for his help.

Mr Harrison, who started a charitable foundation in 1990 after selling his computer company for £300million, was quick to offer the money.

Mr Stewart said: “To be honest I couldn’t quite believe it. Even today I’m pinching myself.

“Everyone knew we needed this money so much, people were less likely to give it to us. They thought what’s the point in giving it to us if we were going under.

“Now we just need another £800,000 to pay off the remainder of the loan and people will be more inclined to help.”

The trust, which uses Thames Quay as a start and finish point for its voyages and regularly carries out fundraising events around the Wharf, including one in June, borrowed the money from the Government to buy its second ship, Tenacious.

Both that and the Lord Nelson are used for trips where able-bodied people buddy up with up to 20 disabled people to give them sailing experience.

Mr Harrison, who was also one of the first investors in the redevelopment of the Isle of Dogs in the early 1980s gave £3million to the Royal Observatory last year, securing funding for major works.

He promised the sailing trust the money at the beginning of the year, but paperwork, including ultimately fruitless negotiations with the Government to reduce the loan, meant the announcement was shelved until this week.

Mr Harrison said: “The only alternative would have been to sell this boat and that would have broken the charity. I thought I had to give a donation to save this trust because everything I had heard about it was good.”

Mr Snow had previously met Mr Harrison on another sailing trip.

He said: “It was very close to the wire last year and I think Peter Harrison has saved us and secured the future enjoyment of thousands of able bodied and disabled people.”