Tesco Bank's fourth Four Abbey's Challenge will take place on 7 June 2014 in the Scottish Borders for 200 employees and, for the first time, 100-plus members of the public.
The event will be organised by Edinburgh-based events agency Maximillion.
The annual sportive features a 45km cycling route and also a 92km option, which passes four Abbey's in the area: Melrose, Dryburgh, Kelso and Jedburgh. There is also a 10km hill walk for non-cyclists.
The aim of the event is to raise sponsorship for three nominated children’s charities, which will be announced on 1 March.
The route starts and finishes at the iconic Melrose RFC, home of the international Melrose Rugby Sevens tournament.
The challenge is open to novice cyclists looking for a 'get fit' challenge for charity or serious bike fanatics looking for another sportive to add to their tally.
Adele Mills, community investment manager of Tesco Bank, said: "For the last three years we've had a very successful Tesco Bank Four Abbeys Challenge involving colleagues. The charities we support are selected by them, so it really means something, often quite personal.
"The challenge has been so successful that we were keen to open it out to the general public. The Scottish Borders are a stunning and challenging place to cycle, and we're sure with a well-organised event this can be a sportive that becomes a big part of the calendar.
"Tesco Bank is involved in projects like this, and others across charity, education, literacy and sport because we genuinely feel passionate about widening opportunities for people to embrace new opportunities they might not otherwise have been able to do."
John Strachan, managing director of Maximillion, said: "Maximillion designed and managed the Four Abbeys Challenge in 2011 and are looking forward to this fourth year when it is opened up to the public to enjoy.
"At 92km, this might not be the longest cycle challenge in the UK but with more than 4000ft of ascent - the equivalent of cycling up Ben Nevis – it’s certainly the hilliest.
"The event passes through some of the most stunning scenery Scotland has to offer."
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