Northamptonshire residents have raised over £100,000 in just three weeks as time runs out for them to save their village pub.
People in Charwelton, near Daventry, have until the end of October to raise £147,000 for their chance to buy The Fox and Hounds after it was purchased by property developers last month.
The pub, described as the ‘heartbeat of any community’ closed in December last year.
After forming the Charwelton Community Pub and Shop Co-operative villagers launched a community share offer with support from The Co-operative Enterprise Hub to set about raising the money needed to buy the freehold the 19th century pub.
Daniel Elkins, a member of the Charwelton Community Pub and Shop Co-operative, said a further £45,000 is needed to make turn the dream of buying the pub into a reality.
He said: “We are delighted with the support and enthusiasm shown so far, people really want to see this great pub reopened.
“It is incredible to see people coming together like this to save a vital community asset for future generations. We would also like to thank local businesses including Great Central Plastics Ltd of nearby Woodford Halse and Fire Protection Coatings Ltd of Coventry for their donations and support.
He added: “A well run pub is the heartbeat of any community, promoting good local food and ales and providing a place for social events, celebrations and community activities. Our aim now is to encourage the widest possible participation in this bid to reclaim The Fox and Hounds not just for now but for future generations - If the pub is to survive for another 140 years it will be because it gets well used and that’s where we believe community ownership can be vital.”
To co-own the pub costs from £500 - up to a maximum investment of £20,000 - with the society aiming to pay a return in the region of 3.5% to investors.
For more information about plans to preserve the pub and for a copy of the share offer document go to www.charwelton.org.uk or telephone 01327 260213.
Community groups interested in co-operative solutions to the running of businesses and services can contact The Co-operative Enterprise Hub, a free service operating UK-wide to support the creation and growth of member-owned enterprises, by visiting www.co-operative.coop/enterprisehub