In a statement released by chief executive officer Paul Bramhill and chair of trustees Michael Rowan, the charity referred to the devastating budget cuts to local authority funds of the past year which combined with the reduction in government grants, has meant local authorities have had to make significant cuts to parks services.
GreenSpace has relied on membership and grants, and therefore it too has been hard hit, the statement said.
Announcing it's decision, the charity said:
"It is with great regret that due to this reduction in funding we have to announce that the charity GreenSpace will shortly cease trading. The charity now has 10 working days from Monday 18th March during which time it will seek to identify organisations that want to take on any or all of its assets or intellectual property.
"Trustees and staff are proud of all the work that GreenSpace has done over the years and, in particular, would like to thank everyone who has supported and worked with the charity. We feel we have made a significant contribution, encouraging both practitioners and communities to work together towards the common aim of improving their local places.
"We have partnered organisations and communities across the country to create Love Parks Week, which has highlighted the benefits of parks and attracted around 1.5 million people into parks during this one week. We have championed quality parks with our support for Green Flag and we have helped communities have their say on their local park through the GreenSTAT online system.
"We continue to get praise for GreenPlaces magazine that is read throughout the world and is unique in its breadth and style. More recently we have encouraged cities to look at new ways of raising monies and created the GreenPlaces Fund which we hope may continue with another organisation.
"In this time of austerity parks and green spaces remain an essential asset to every city, providing a place for everyone to exercise and enjoy. GreenSpace staff have lived and breathed parks over the last 12 years and during this time nearly 50 dedicated people have worked with enormous dedication for the charity. We hope their legacy will be that others will take up this mantle and continue to champion the importance of quality parks and green spaces for society in the future.
The news was met with shock, and deep concern from parks professionals.
Said one: The tragedy will be if the sector should lose the expertise of both the staff and the chief executive Paul Bramhill who have worked with such dedication to the parks sector."
A parks manager said: "I am so sorry to hear this sad news. I have been tremedously impressed by the work of GreenSpace since it commenced and I am sure a lot of the work you have done will bear results for many years to come. From its formation, GreenSpace quickly became the parks champion we needed and our sector will be significantly pooer without it."
GreenSpace can be contacted at: email@example.com