Pub is the Hub blueprint inn sold

The Dyke's End, which became a model for the Pub is the Hub initiative in Reach, Cambridge, has been sold by the 49 shareholders who rescued the business five years ago. The freehold of the pub has been transferred to the local parish council with new lessees taking over the business. The original investor company, Reach For A Pint Pot Ltd, intended to keep the pub forlittle more than three years with no profit planned. However, the venture has proved a major commercial success and shareholders have earned a windfall with the sale of the pub. The Dyke's End was visited by Prince Charles in November 2003 to mark the success of the rural community venture. New operators of the business are Simon Owers and Frank Feehan who formerly ran the Union Inn at Rye in Sussex. Selling agent Britannia Business Sales said the Dyke's End was acquired for a sumconsiderably in excess of the £275,000 asking price. Managing director Alan Crowest said: "The lessees have acquired the pub on a 999-year lease, but effectively it is a freehold arrangement in all but name. "Transfer of the building to the parish council is purely to protect the future use of the Dyke's End.