Residents in Ashton Hayes are aiming to buy the Golden Lion and reopen it as a community-owned village pub and hub enterprise.
Building on the success of their previous community ventures, such as the going carbon neutral project and village community shop, a community benefit society (CBS) has been formed and a share offer is being launched on 22 February 2018.
Residents are being invited to invest in a community enterprise that will ensure this vital village asset remains as a functioning pub and hub for generations to come.
In order to achieve this, the CBS needs the help of large numbers of supporters. Part of the financing plan is a community share offer through which the CBS aims to raise a minimum of £250,000.
Committee chairman Hugo Deynem said: “This is the only pub in Ashton Hayes and it has an outstanding track record going back many years.
"Because it has always been a highly valued village institution it was one of the very first to be listed as an asset of community value under the Localism Act 2012. In January 2013, the pub ceased trading and since then the owner has tried without success to obtain planning permission to redevelop the pub and site for residential dwellings.
"The planning applications were strongly opposed by the local community, parish council and the borough council. We, as a community, want our treasured Golden Lion back open and serving its community once again.”
In October 2017, the owners announced their intention to sell the pub, triggering a six-month period for the community to consider making an offer for the premises and subsequently raise the funds needed.
Lisa Allman, parish councillor and secretary of the CBS, said: “This share offer represents a fantastic opportunity for residents of Ashton Hayes to strengthen the vibrancy and sustainability of our community. A community share offer provides an opportunity for local people, investors and businesses to buy into a community where the motivation and payback is leaning more towards a social than financial return.”
The minimum investment is £200 per investor, with a maximum of £25,000 per individual investor. The offer opens on 26 February 2018 and runs until closing on 28 March 2018.
To find out more about pubs for sale, lease and tenancy visit our property site.