Opportunity to buy shares in historic village pub in North York Moors as residents launch appeal to raise £250,000
Residents of a picturesque village in the North York Moors have launched an appeal to raise £250,000 to buy their historic pub which has been at the centre of a decade long wrangle over its future.
People of Fadmoor near Kirkbymoorside have battled to save the 250-year-old Plough Inn which its owner, IT company boss Peter Wilkinson, had wanted to convert into offices and accommodation.
After the North York Moors National Park Authority turned down the application, the issue went to a government planning inquiry which endorsed the decision.
The Fadmoor Community Pub Ltd, a community benefit society regulated by the Financial Conduct Authority, is campaigning to buy the pub and now make it a multi-purpose community enterprise.
The society is seeking community share pledges with a target of raising £250,000 to purchase the pub, which is officially designated an asset of community value in the National Park.
Proposed investments for £1 shares in blocks of between £250 and £25K are available.
Funding is also being pursued from the recently announced Government Community Ownership Fund, local businesses, specialist community support organisations and the Plunkett Foundation which has experience and expertise in community-run businesses.
The group says The Plough as a community business is intended to complement similar establishments locally, but with unique facilities such as a caravan park and outside space being used to the full.
It is hoped that under community control The Plough will be “more than a pub”.
As the business progresses it is planned to include a welcoming village pub, a shop for general goods and local produce, all-day cafe, a library, sport team support and educational and social facilities.
In addition the society aims to facilitate internet awareness for the elderly, a meeting spot for touring cyclists, special events, electric car charging points, and a micro-brewery.
The group are seeking pledges of investment only at this time, to be completed in the event of a successful bid to purchase.
Expressions of interest should be sent by email to [email protected] as soon as possible, preferably before the end of August.