Buy your piece of a Rural Lincolnshire Pub!
By Ian Tyler
Here's a community who followed CAMRA advice over registering their pub as an ACV. Now they are moving on to the all important buyout phase... As beer and pub lovers CAMRA members now have the opportunity to help out this small community and buy a stake in the rural pub heritage of England!
The Thorold Arms, Marston (6 miles north of Grantham and 10 south east of Newark, close to the A1) in Lincolnshire will be sold by the receivers early this summer.
The villagers of Marston and Hougham (only 221 houses between them) registered their pub as an ACV in December 2015. Now they have the opportunity to bid, by the end of May, to buy this vital resource for the community. A Share Offer was launched on St George's Day and they need to raise a minimum of £250,000 by May 31st.
If more than the minimum target is raised the new owners (the shareholders) will be able to be more ambitious with the renovations. A series of phases are planned from: a minimal maintenance, redecoration and refit; to a comprehensive alteration bringing the dingy 19th C premises right back into the 21st century; with several stages in between. If, for any reason, the pub can't be bought, investors will get their money back.
The shares are issued by a legal entity called a Community Benefit Society, a form of Limited Liability Cooperative. The shareholders each have one vote at the AGM and can put themselves forward for election to the Management Committee. The Thorold Arms (CBS) Limited is registered with the Financial Conduct Authority # 7295.
There is a huge amount of information on the website: http://www.TheThoroldArms.co.uk/, ranging from a brief history of the "Save the Pub" campaign to articles about community pubs and shops in general, sources of help and campaign specific information. There are also a number of downloadable documents with pictures and plans of the hoped-for remodelling of the pub, the Share Offer Document and Application Form. If required, a printed Share Offer and Application can be posted - just ask via the Contact Us page.
Please help save Marston's Pub and Shop. Investors are needed and are more than welcome!