Lyvennet Community Pub Shares Top 100,000!
Residents of Crosby Ravensworth Parish (and visitors to the area) are a step nearer to having another drink and meal in The Butcher’s Arms now as the number of shares purchased in the Community pub has just passed the 100,000 mark. Residents hope that the pub will soon return to its popular role as community hub. The current landlord had to close its doors due to ill-health, now the residents are investing in shares for a community purchase of the pub. There are precedents for Community pubs to do very well (Hesket Newmarket’s Old Crown pub is a good example in Cumbria) and if the purchase goes ahead as planned the shares are expected to yield a minimum of 3% in their second year.
Share value can go down as well as up, but this share offering is backed up by the “bricks and mortar value” of the building itself. There’s a case of a community pub in Yorkshire exceeding its initial sales expectations by about 50%!
Community support, good food and cask ales would be a very good starting point.
See www.lyvennetcommunitypub.com for the latest news and for information about how to buy shares.