The share offer to set up the Miners Arms, in Nenthead, Cumbria, as a community pub, has closed, having exceeded its £95,000 target.
The management board outside the Miners Arms, Nenthead
The pub has been at the heart of the village for generations, opening its doors nearly 200 years ago. It closed in 2020 and has not re-opened, and it is now for sale.
Residents of Nenthead came together and formed a community benefit society known as the Miners Arms Community Pub Ltd (MACPL).
Since early May, people have been able to buy community shares in the Miners Arms with a minimum total target of £95,000. The share offer closed on Saturday and a total of 242 people applied for £102,880 worth of shares — well over that minimum target.
People from as far afield as Canada, Hungary, and every corner of the United Kingdom, as well as many local residents, have bought shares. In addition, a number of investors donated to a pay it forward scheme, which allows anyone in the village to apply for shares even if their financial situation doesn’t allow them to buy their own. They are now all Members of the Miners Arms Community Pub Ltd family.
“Our supporters have been fantastic, they’ve dug deep in difficult times and it’s amazing to see the final total,” said Simon Walker, chair of MACPL.
“The management board and I want to thank each and every one of them for believing in our vision to re-open the Miners Arms.”
The group has applied to the government’s Community Ownership Fund (COF) for a grant of more than £360,000 and was expecting the result in June. However, all announcements about the fund have been put on hold by the Department for Levelling Up, Housing and Communities (DLUHC) after the general election was announced and the country entered the pre-election period.
Simon added: “Although it’s disappointing to not have a decision yet on the grant application, we are now in a fantastic position to leap into action as soon as the result is known.
“We know this is only the start of our journey and there is a long way still to go. If anyone has skills or resources we could utilise, we would love to hear from them.”
You can still be part of the community buy-out of the Miners Arms. Join our mailing list via the website, or follow the social media pages to hear all the latest news. Get in touch by emailing minersarms.nenthead@gmail.com
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