Grindleton Community Pub has been formed as a Community Benefit Society (The Society) and is now registered with the Financial Conduct Authority (FCA). Our registration certificate and governing rules can be found at here. The Society is the legal entity through which we can work to raise the funds necessary to purchase the Duke of York, undertake refurbishment work and appoint a tenant to run the business for the benefit of the community.
To open a community pub & café in Grindleton that is inclusive and welcoming, serving reasonably priced, good quality food & drink in a friendly setting. To build a sustainable business that is owned by the community and run for the benefit of the community it serves.
Social opening hours will make our pub & café an accessible place to visit, catch-up with friends and meet new people. A place to find information, share news & views, get involved in activities and showcase local talent & expertise. By joining together, our community heart will grow bigger, stronger and last longer.
The Duke of York has great potential to be so much more than a pub. As well as the café, regular income could be generated by offering bed & breakfast accommodation, refreshments for walking groups, cyclists, essentials shop, sweets, ice-cream and so much more. Professionally run and well-managed, we believe that the business can be profitable. In the unlikely event it is not, the community will own a valuable asset – the building and land associated with it. If necessary, the asset could be sold in order to return funds to investors. Our investment is in the building and land – the bricks and mortar – not the licensed business.
This community can save The Duke of York from redevelopment by purchasing it at a realistic price, refurbishing and re-opening it as our own Grindleton Community Pub – the first in the Ribble Valley. This is a one-off opportunity and we really should not let it pass us by.
The Duke of York is a Grade II listed building. It is nationally recognised as being an important part of our architectural heritage and deserving of considerably more care and attention than it has had in recent years. There have already been numerous conversations and approaches from a wide variety of people both within and beyond Grindleton offering practical assistance and financial commitment showing that there is a strong level of support to save the Duke of York and safeguard its future. The plan is to appoint a professional tenant with the experience and skills to run the pub & cafe as a profitable and successful business for the benefit of all villagers and the wider community. We will set a fair rent and agree a lease with the tenant who will run the pub as a free house selling food and drink. The rent will be set at a level that gives the tenant the opportunity and incentive to run a profitable pub and café business, and which will provide the revenue for us to maintain the building and repay any loans.
Grants and loans are available but it is hoped to raise a significant amount of the money required through one-off donations and a share offer to the residents of Grindleton and the wider community. This is also a vital element for grant applications that require match-funding.
When the business is profitable, the shares will become interest bearing (not exceeding 5% or 2% above the base rate of the Bank of England whichever is the greater) and redeemable after a set period of 3 years. The minimum age to take part in the share offer is 16 years and the minimum investment will be 5 shares of £100 each (£500). A savings scheme will be offered for regular instalments over 12 months to purchase shares at the end of the savings year. For example, £50 per month x 12 instalments would purchase £600 in shares. It is important that as many local people take part as possible irrespective of the amount invested and so smaller investments from the same family are of real value.
Our Share Offer is now open and will close at 6 pm on Saturday 16th November at 6 pm” Application forms can be downloaded from the Prospectus & Business Plan.
Who is Involved?
Ideally, anyone with an interest in supporting rural communities, community enterprise, tackling social isolation and alleviating loneliness. Everyone who enjoys a drink and a chat. Foodies, dog-walkers, cyclists, ramblers and lovers of the countryside.
The start-up committee comprises:-
John Halley – Chair Judy Entwistle – Society Secretary Robert Ward – Treasurer
Chris Brennan – Vice Chair Keith Hutton – Founder Member