Locals raise £120k to save pub

Residents have raised nearly £120,000 to save a 19th century pub in Northamptonshire from closure and now hope it will re-open in time for Christmas.

Locals in Charwelton formed a co-operative and launched a community share on in October, to try and save the Fox and Hounds pub, which dates from the 1870s, was purchased by property developers.

The Charwelton Community Pub and Shop Co-operative, which was established with support from The Co-operative Enterprise Hub, now hopes to exchange contracts in November and complete the purchase in early December.

However, the community share offer will stay open as a further £30,000 is needed by the end of November in order to fund initial refurbishments and keep loan debt to a minimum.

Daniel Elkins, a member of Charwelton Community Pub and Shop Co-operative, told the Press Association: “We are absolutely delighted with the support and enthusiasm that we have seen. It has been incredible to see people come together behind a shared dream to save this vital community asset.

“We want to encourage the widest possible participation and, are still keen to see more people getting involved, people who will be able to say that they co-own and played a part in helping to save this wonderful pub for future generations.

“We believe that the pub will once again be a thriving community hub – serving great local food and ales and providing a centre for social events, celebrations, community activities and, above all, a warm welcome to all.”

Buying a share in The Fox and Hounds costs from £500 – up to a maximum investment of £20,000 – with the society aiming to pay a return of around 3.5% to investors. The community group is also receiving donations and business sponsorship.

To find out more about the share issue, visit www.charwelton.org.uk or call 01327 260213.