Campaigners launch crowdfunding scheme to buy heritage pub

By Liam Coleman contact

- Last updated on GMT

For sale: Greene King is selling the pub off a guide price of £295,000
For sale: Greene King is selling the pub off a guide price of £295,000

Related tags: Public house, Want

A community group has launched a crowdfunding campaign to buy a Campaign for Real Ale (CAMRA) heritage pub in Leeds.

The Cardigan Arms, which was among 260 pubs listed in the latest edition of CAMRA’s Britain’s Best Real Heritage Pubs, was put up for sale by Greene King in December 2016.

A spokesperson for the Cardigan Arms Communities Pub group, explained that the pub is one of only four heritage pubs in the West Yorkshire city. He said: “This one still has its internal heritage and just needs investment and people that want to sort it out.”

The pub is listed as an asset of community value (ACV) so the community now has until June 2017 to raise enough money to submit a bid to buy the pub from Greene King.

Mood Pubs partnership

The crowdfunding scheme launched last week and has since raised more than £40,000. He said: “I'm pretty confident that we will raise at least £250,000 through crowdfunding.”

Leeds-based community pub operator Mood Pubs said it will match the amount raised by campaigners. When £300,000 has been raised to buy the pub, the campaigners and Mood Pubs plan to form a joint management company.

The spokesman said: “The minimum [we need to raise] is £150,000 each and then any extra money raised will be put in to redevelopment and restoration.”

Related topics: Property law

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