Since the closure of the Community Ownership Fund, we have been endeavouring to work with the owner to agree a fair purchase price based on the market price of the business, recognising the declining value of the asset which ceased to be operational in November 2025. These have been difficult negotiations against a background of the owner’s desire to turn the pub into a domestic residence or flats.

The recent relisting of the pub as a registered Asset of Community Value recognises the importance of the pub to the local community and visitors to the area. Recently announced legislation which makes it easier for existing community groups to acquire Assets of Community Value, including the determination of a fair market price based on the “as currently is” position, will help us deliver our aim of re-launching the pub as a community hub, providing a cafe and pub where locals and visitors alike can meet in a safe and welcoming environment.

We are confident that we can fund the valuation placed upon the business by the Valuation officer by drawing on the funds available, the pledges for additional funds and a range of funding provided to support the purchase, renovation and initial operating costs of a community business.