The sun shone on community efforts to purchase The Butchers Arms pub this weekend as our MP Rory Stewart and County Councillor Tom Lowther joined us in the purchase of shares in Crosby Ravensworth’s local pub. With each shareholding anticipated to bring in a minimum of 3% return from the second year of operation onwards, this is more than just a very welcome gesture of support. I believe that these gentlemen are on to a good thing and have made a sound investment!
You see, there’s a precedent for community pubs to successfully buck the trend of rural pub decline. Where the community have a stake, they’ll have their steak and ale pie, or ploughman’s, or lasagna or whatever else takes their fancy from the menu.
A really good local pub can add greatly to the quality of life for nearby residents – and when you think about it, what is it that makes a pub great, anyway?
Pubs build their reputations on food, atmosphere and beer quality. Location is important, but people will go out of their way for quality provision. In fact, it can often be the primary goal of an excursion with the other ingredients (country walk) culminating in some well-earned indulgence.
Tonight on ITV at 8PM you can see documentary coverage of a similar pub community purchase in Yorkshire that has proven very successful with sales exceeding expectations from the first year of its operation.
You can invest anywhere between £250 and £20,000, and each named shareholder will have a vote at shareholders’ meetings. The reason for the £20,000 cap is that it makes better business sense to have more people with a lesser stake in a community pub than a few people with a greater stake. You can, of course, gift shares to family members as a perfectly legal inheritance tax avoidance measure (hint, hint) and you can also make an investment in this pub part of your personal pension planning.
Talk to Lyvennet Community Pub Ltd Secretary Kitty Smith about getting your shares Tel 01931 715 375
For more information, please see www.lyvennetcommunitypub.com