Villagers look to complete pub purchase

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A GROUP of villagers looking to complete the purchase of a village pub will be looking to do so on December 5.

Residents of Charwelton have got together to try and riase the funds to save The Fox and The Hounds in the village.

The plans to take over the pub come after the group raised £118,050 in pledges and donations of which £63,450 has been received.

One of the villagers Mike Jones said: “We have also all our finance in place now subject to sight of the tenancy agreement and financial projections from the tenant and a surveyors report, all of which are in progress.

“The surveyor attended the property and we expect to receive his report in the next few days by which time the other conditions will also have been satisfied.

“Clearly we need to satisfy these final conditions before we can exchange contracts and to that end we have requested an extension to the Contract Exchange date, which has now been verbally agreed.

“We continue to aim to complete the purchase on December 5 as planned.”

The group is now looking for people to purchase the remaining £27,950 of shares that have not yet sold and is needed to complete the initial refurbishment.

Mr Jones said: “This gives us confidence to proceed with the purchase in the knowledge that we will have access to the full £261,000.”

The group is looking for people to purchase some shares in the business.

For further details about the business, contact Mike Jones by emailing meadowcottage@madasafish.com or alternatively 01327 2636613 for more information and a prospectus.