At the start of the meeting it was explained that we were not here to criticize Admiral Taverns or past or present tenants of the pub but rather to see whether the local community was interested in purchasing the pub.
A potted history of the pub was outlined as were the difficulties the tenants had had in trying to make a profitable business. It was explained that the pub had been registered as an asset of community value and that meant there was now a realistic chance of being able to purchase if the price was right.
The current asking price is £325,000 plus vat. Admiral Taverns are waiting for us to make an offer. They are not obliged to sell to us. We had made enquiries 5 years ago but that was to no avail. However the work we did then is of use now. We have the basis of a committee: Brian O'Connell, Mark Haslam and Andy Wood. More committee members are needed. If there are any Surveyors, Architects, Builders, web designers, publicists etc please come forward. We will need "helpers" as there is a lot to be done. The pub is in need of serious tlc. The loos, the kitchen, the armpit all need upgrading. It will cost but it will be worth it. To survive the pub must serve the whole community
We have secured help from CAMRA and the Plunkett Foundation(a charity that supports community owned enterprises).
We are preparing a business plan to show that the pub can run at a profit once a reasonable rent is charged and the pub is free from tie.
We are setting up a (CBS) community benefit society. Shares will be sold in the society and those funds plus any grants we obtain will be used to fund the purchase. Dividends will be paid to shareholders, the money for that will come from the rent paid by the tenant/s. We will not run the pub ourselves, nor will we be employers and have a manager.
We believe a buy out can transform the pub and put it on a long term sustainable footing for the benefit of the community.
At the end of the meeting the following questions were put:
- Do we want to collectively buy the Brewers Arms with the intention of it being run for the benefit of the local community. THE ANSWER WAS A UNANIMOUS "YES"
- Do we proceed and register a company a CBS with the aim of developing an outline business plan and share prospectus . THE ANSWER WAS A UNANIMOUS "YES"
- Having said "yes" to questions 1 and 2 were the current members of the steering group confirmed and authorised to appoint further members. It being understood that if and when the pub is acquired the members of this group would be subject to competitive election via a ballot of the community shareholders. THE ANSWER WAS A UNANIMOUS "YES"