Charsfield: Investment prospectus launched to save village pub
VILLAGERS have been urged to back a community-led project to safeguard the future of their beloved pub.
The Three Horseshoes, in Charsfield, near Wickham Market, has been shut since May and is on the market for �289,000. Residents have set up a community benefit society, under the name of The Charsfield Three Horseshoes Community Pub Limited, which will co-ordinate efforts to buy, refurbish and re-open the pub.
The group launched its investment prospectus at a meeting at Charsfield Village Hall on Saturday and chairman David Wolfe appealed to local residents to back the venture.
He said that when sufficient pledges of investment had been secured they would be looking to make an offer of around �160,000 to current owner, Edward Bolton.
“Mr Bolton has previously expressed his hope that the pub continue to serve the local community so with goodwill on both sides we hope that a viable offer can be negotiated,” he added. More than 100 people attended Saturday’s meeting and heard that building repairs and refitting are likely to cost around �40,000, with staff salaries, costs of the purchase and first year of operation taking the investment target to around �253,000.
At least 50% of investors must live or work within 6km of the pub and all will have an equal vote, while they should also be able to qualify for 30% tax relief.
For more information about the project visit www.froth.org.uk or view the prospectus, which is being delivered to around 7,000 local addresses.