Community Ownership Models
This website is being used to collect pledges of support for the Royal Hunt Pub and Restaurant. These pledges could be the start of shared ownership depending on the ownership model chosen. If shares do go up for sale, members of the Royal Hunt Pub Community Group will be offered an opportunity to buy shares. A pledge is not a binding contract, but it indicates an intention to support and maybe invest in the new look Royal Hunt Pub and Restuarant.
The Community Right to Bid was created in the Localism Act in September 2012 across the country. This means that communities can "stop-the clock" on the sale of valuable local assets, giving them time to put in a bid of their own and protect it for the wider benefits of the community.
The Royal Oak at Hail Weston was in a similar situation in 2012. The Hail Weston Community Pub Society was formed. In January 2017 The Royal Oak was bought by a group of eight local villagers. The building has been refurbished and reopened as an independent village pub on May 19th 2017.
Another example is the Plough at Great Haseley which is owned by the community, but with a conventional company share structure. There is a ceiling on the number of shares any individual can hold.
There are many successful examples of Community Interest Companies that offer the opportunity to buy shares. An example is The Bull at Great Milton.
Share ownership is still open at The Seven Stars at Marsh Baldon, a 400 year old coaching inn that has been rescued from closure. The doors of the pub re-opened once again on March 30th 2013. The Seven Stars ownership model is one person, one vote, however much you put in, a scenario that some feel is unfair to large investors. There are serious large investors in North Ascot, so we are unlikely to follow the Seven Stars ownership model.
The Plunkett Foundation has supported many communities to combat rural decline by setting up community co-operatives. An example is the Craufurd Arms, which is the first Community owned pub in Maidenhead and the 50th pub in the country to achieve this.
When creating a community co-operative, a committee of at least three founder members is required to take on the responsibility of managing and leading the intended enterprise. The committee is effectively the management committee of an unincorporated organisation.
The following pubs were rescued by local communities but subsequently sold into the free trade.
- Barge Inn, Honeystreet, Wiltshire, SN9 5PS
- Dykes End, Reach, Cambridgeshire, CB25 0JD
- Shurlock Inn, Shurlock Row, Berkshire, RG10 0PS
- Greyhound Inn, Grizebeck, Cumbria, LA17 7XJ
The Royal Hunt Pub Community Group will try to purchase the pub if the price is right. The pledges will validate the Community Right to Bid for the purchase of The Royal Hunt Pub. During the 6 month moratorium period the Royal Hunt Pub Community Group will decide which ownership model to adopt.