Peter Webber, a past chairman of Help a Guernsey Child, died in December last year and the bike ride, organised by Only Fools and Donkeys and Mr Webber’s former employer, Cazenove Capital, raised the money in his memory.
The Webber Shed is a shed stocked with bikes at Delancey Park for children and families connected with the Bright Beginnings Children’s Centre to learn how to ride.
‘It is very fitting and means a lot that the ride is able to contribute to helping young people and their families learn to cycle in a safe environment,’ said Matt Collas, from Only Fools and Donkeys.
‘The new bike shed in Peter’s memory provides a lasting legacy for future generations of budding young cyclists.’
Mr Webber devoted a lot of his time to charity work, particularly supporting children to help them achieve their ambitions.
‘He was passionate that all children should have the same opportunities and have some happiness in their lives, irrespective of their financial circumstances or what was going on around them,’ said Alex Jenner, from Help a Guernsey Child.
‘The vision is becoming a reality and we are very excited so many children and families will benefit.’
Help a Guernsey Child has said that Mr Webber would have been humbled, honoured and simply over the moon by the generosity of everyone who has helped, and hope that he is looking down on them with a big smile on his face.