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Saving the Village Local Our Story. mbooth. Hudswell is a pretty village, 2 ½ miles from Richmond in North Yorkshire. Can be a bit rough in winter!. Close to the open moorland. Close to open moorland.

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Saving the village local our story

Saving the Village LocalOur Story

mbooth

Hudswell Community Pub Ltd


Hudswell is a pretty village 2 miles from richmond in north yorkshire
Hudswell is a pretty village, 2 ½ miles from Richmond in North Yorkshire

Hudswell Community Pub Ltd


Can be a bit rough in winter! North Yorkshire

Hudswell Community Pub Ltd


Close to the open moorland
Close to the open moorland North Yorkshire

Close to open moorland

Hudswell Community Pub Ltd


8 th august 2008 the george and dragon closed its doors and nobody wanted to buy it
8 North Yorkshire th August 2008 the George and Dragon closed its doors and nobody wanted to buy it.

Hudswell Community Pub Ltd


Why did it close
Why did it close? North Yorkshire

  • The business was doing well!

  • Classic credit crunch victims

  • Bought the pub at the height of the property boom in spring 2007

  • Borrowed most of the finance at high interest rate

  • Economic downturn hit all business in 2008

  • Could not meet repayments and went bankrupt

Hudswell Community Pub Ltd


Village pub closure is national phenomena
Village pub closure is national phenomena North Yorkshire

  • According to CAMRA

  • 316 pubs closed in 2006

  • 1409 in 2007

  • 1866 in 2008

  • 2,400 in 2009

  • 2,500 pubs closed in 2010  

  • That is one pub closure every four hours!

Hudswell Community Pub Ltd


After nine months
After nine months North Yorkshire

  • No one had bought it

  • The economy continued to founder

  • Small group got together to consider if we – the village, could buy it and re-open it?

  • We did not moan, or blame someone else, we did something about it!

Hudswell Community Pub Ltd


What we did
What we did North Yorkshire

  • Formed an organisation – the Hudswell Community Pub Initiative

  • Did some research into how we could raise the funds to buy it

  • Secured offers of grant aid and other support

  • Called public meetings to assess the support from the village

Hudswell Community Pub Ltd



What we did1
What we did North Yorkshire

  • Made an offer to buy the Pub (July 09)

  • Worked on a Prospectus

  • Formed a Co-operative (an IPS for community benefit)

  • Sought pledges to invest

  • Worked on grant applications

Hudswell Community Pub Ltd


What happened
What happened North Yorkshire

  • At first, the Bank – Commercial First, did not take us seriously – and talked about a lease

  • Eventually our offer to buy G and D for £209,950 accepted on the 28th October ’09

  • By end of November we had pledges to invest amounting to £150,000

  • IPS registered 18th December

  • Prospectus Launched 28th December

Hudswell Community Pub Ltd



Launching the prospectus
Launching the Prospectus weeks!!!

Hudswell Community Pub Ltd


What happened1
What happened weeks!!!

  • Throughout January the funds rolled in

  • As deadline of 5th Feb 2010 approached, we were still £40,000 short

  • Key Fund Yorkshire agreed to convert £20,000 loan to £20,000 equity purchase

  • By the 7th Feb we had enough funds

  • 17th February it was ours!

Hudswell Community Pub Ltd


Big decisions
Big decisions weeks!!!

  • To appoint tenants rather than manage it ourselves

  • To fully refurbish and modernise the pub (altering the internal layout) before we opened it to the public

Hudswell Community Pub Ltd


Where the money came from
Where the money came from weeks!!!

  • Investments from individual members £215,500

  • Investment from Key Fund Yorkshire £20,000

  • Rural Access to Opportunities Grant £50,000

  • Cultivating Enterprise Grant (DTA) £5,000

  • Rural Business Development Grant £9,200

  • North Yorkshire County Council £750

  • Co-op and Mutual Solutions £900

  • Donations £1,700

  • TOTAL £301,350

Hudswell Community Pub Ltd


Costs
Costs weeks!!!

  • Freehold £209,950

  • Legal and incorporation fees £6,500

  • Allotments £1,500

  • Furniture and Equipment £20,000

  • Refurbishment £40,000

  • TOTAL £277,950

Hudswell Community Pub Ltd


The power of community involvement
The power of community involvement weeks!!!

  • We now have 202 member, who have now invested just over £250,000

  • 82 from the village (44% of membership)

  • Board of 10 directors – put in a great deal of time and effort drawing on their various skills

  • Many other members and supporters have helped with practical tasks

Hudswell Community Pub Ltd


A committed and talented board
A committed and talented board weeks!!!

Hudswell Community Pub Ltd


The power of community involvement1
The power of community involvement weeks!!!

  • Clearing the ½ acre of land to create 10 community allotments

  • Stripping and French polishing donated pub furniture

  • Painting and decorating the interior and exterior of the pub

  • Project managing the refurbishment

  • Fund raising and publicity

Hudswell Community Pub Ltd


The power of community involvement2
The power of community involvement weeks!!!

Hudswell Community Pub Ltd






Will it ever be ready? weeks!!!

Hudswell Community Pub Ltd


YES ! weeks!!!

Hudswell Community Pub Ltd


George and Dragon officially opened by the Foreign Secretary, William Hague MP (a member of HCP Ltd) on the 12th June 2010

Hudswell Community Pub Ltd


Hudswell Community Pub Ltd Secretary, William Hague MP (a member of HCP Ltd) on the 12


Hudswell Community Pub Ltd Secretary, William Hague MP (a member of HCP Ltd) on the 12


Its a great pub with great views
Its a great pub, with great views Secretary, William Hague MP (a member of HCP Ltd) on the 12

Hudswell Community Pub Ltd


Why form a co operative
Why form a co-operative? Secretary, William Hague MP (a member of HCP Ltd) on the 12

  • It symbolises the community effort

  • Everyone who joins has a say and one vote irrespective of the size of their investment

  • Surpluses are reinvested or must be used to benefit the community

  • Gives you legal status and limited liability

  • It is a structure that attracts grant aid

Hudswell Community Pub Ltd


Where does the membership live
Where does the membership live? Secretary, William Hague MP (a member of HCP Ltd) on the 12

Hudswell Community Pub Ltd


More than a pub
More than a pub Secretary, William Hague MP (a member of HCP Ltd) on the 12

  • A villages shop selling basic supplies bread, milk eggs and some local crafts

  • A small library

  • Internet access for pub users

  • Allotments that provide fruit and veg for the pub and shop

  • An information exchange for the village and tourists

Hudswell Community Pub Ltd


Hudswell Community Pub Ltd Secretary, William Hague MP (a member of HCP Ltd) on the 12


Hudswell Community Pub Ltd Secretary, William Hague MP (a member of HCP Ltd) on the 12


Hudswell Community Pub Ltd Secretary, William Hague MP (a member of HCP Ltd) on the 12


The Allotments Secretary, William Hague MP (a member of HCP Ltd) on the 12

Transformed from overgrown field in only thee months

Hudswell Community Pub Ltd


The challenges ahead
The Challenges ahead Secretary, William Hague MP (a member of HCP Ltd) on the 12

  • Developing a sustainable business

  • Growing the business with the bed and breakfast accommodation

  • Possibly developing other initiatives

  • Keeping the co-operative spirit alive

Hudswell Community Pub Ltd


Jackie and margaret run the george and dragon
Jackie and Margaret run the George and Dragon Secretary, William Hague MP (a member of HCP Ltd) on the 12

  • sprit alive

Hudswell Community Pub Ltd


Hudswell Community Pub Ltd


Lots of media interest
Lots of media interest Prospectus

Hudswell Community Pub Ltd


It’s the only co-operatively owned pub in Yorkshire – for now! We’re very proud of what we have achieved

Hudswell Community Pub Ltd


One year on
One year on for now! We’re very proud of what we have achieved

  • The pub business is thriving – with sales 50% than we anticipated

  • The pub atmosphere is welcoming and inclusive

  • The shop is fully operational and popular – hope to be able to employ a manager

  • The publicity and interest continues

Hudswell Community Pub Ltd


An excellent model to save village pubs
An excellent model to save village pubs for now! We’re very proud of what we have achieved

  • Shared ownership with no debt

  • We can set realistic rents

  • Landlord and tenant work to support each other

  • 200 members committed to using their pub and proud to bring their friends and family to it

Hudswell Community Pub Ltd


Others are now following in our footsteps
Others are now following in our footsteps for now! We’re very proud of what we have achieved

  • The Butchers Arms, Crosby Ravensworth, Cumbia, raised £230,000 from a share issue. They now own the pub and it will re-open in August

Hudswell Community Pub Ltd


Two more in north yorkshire
Two more in North Yorkshire for now! We’re very proud of what we have achieved

The Trvellers Rest, Skeeby

Currently boarded up!

Sceeby Community Pub Ltd formed in May 2010

Opposed planning applications to convert to a house

Currently seeking member investment

Negotiating with owner over to lease or buy

You can join SCP Ltd!

Hudswell Community Pub Ltd


The forester s arms coverdale
The Forester’s Arms, Coverdale for now! We’re very proud of what we have achieved

  • Coverdale Community Pub formed in April ’11

  • Have reached agreement to buy

  • Have £220,000 of pledges

  • Now seeking investment from members

Hudswell Community Pub Ltd


Miner s arms ascomb northumberland
Miner’s Arms, Ascomb, Northumberland for now! We’re very proud of what we have achieved

  • Not closed

  • Not the last pub in the village

  • But current owners have agreed to sell to the co-op

Hudswell Community Pub Ltd


It is a great model
It is a great model for now! We’re very proud of what we have achieved

  • You can support it by joining

  • Lyvennet Community Pub Ltd

  • Skeeby Community Pub Ltd

  • Coverdale Community Pub Ltd

  • Or expressing an interest in joining the Group in Ascomb

Hudswell Community Pub Ltd


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