The first tenants have this week moved into a new £9m hub for social enterprises in the East of England.

The Future Business Centre, located in Cambridge, will offer workspace for 50 businesses which have social or environmental objectives.

Cambridge charity Allia has raised nearly half of the funding for the building through a charity bond.

The majority of the £4.2m in funds invested in the bonds have been provided by four local companies: TTP,  Xaar, RealVNC and ARM. Additional investments were made by construction company Interserve, the Cambridgeshire Chamber of Commerce and local individuals.

The rest of the money needed to build the centre was raised through grants and donations, including from the European Regional Development Fund.

Tim Jones, chief executive of Allia, said: “We’re delighted that these companies are using their success to invest in the next generation of up and coming social enterprises in Cambridge. It’s a great example of how social investment can work where everyone benefits.”