The idea attracted a lot of interest, not just within West Peckham, but from the surrounding west Kent area as well, and with this in mind the group was given six month’s exclusivity to come up with a plan. After agreeing a purchase price with Mr Milligan, the group then looked at sourcing funding from the Community Ownership Grant scheme, as well as seeking donations from villagers and local businesses. The aim was to set up a Community Benefit Society, known as the Swan Community Project Ltd, which will then own the Swan and be responsible for its future. The society is a “not for profit” company with a mission to operate for the benefit the Community, and in order to achieve this, any profits will re-invested in the project.
I concluded my January article with the words, “I wish the group every success and might even chip in myself!” Well, now I have, because after signing up to the project, I've been receiving regular updates. I’d been meaning to attend some of the meetings the group was holding, but never really seemed to quite find he time. Then, during the third week in October, I received an email saying that the offer had just a couple more days to run, and that more investors were needed to reach the investment target.That plea provided the impetus for me step up to the plate and after purchasing the minimum investment of, I’m now the proud owner of 250 shares in the Swan Community Project Ltd. A couple of days later, I received an email thanking me for my purchase, and confirming that, along with others, my investment was sufficient to secure ownership of the pub. Furthermore, because that final push had raised more than the committee thought, there was a sufficient surplus to put towards other purposes connected with the pub – kitchen refurbishment for a start. Consequently, the share offer has been left open until 7th November, with aim of reaching the magic, half million pounds target.
I'm not quite sure what happens next, although the group is holding a “pop-up” meeting, at the pub, on 5th November. I shall be traveling back that day from a trip to Bath, with members of the Beer & Pubs Forum, so won’t be able to attend, but I’m sure to find out in due course. In the meantime, the following statement from the group, encapsulates nicely, what they are trying to achieve with the pub."The Swan is the hub of our community, a place where locals and those from the surrounding countryside, villages and towns can socialise and take part in quiz nights, music nights and other social events. It’s at the heart of our Village FĂȘte, Produce Show, Bonfire night and many other Community events. As the only full-time provider of hospitality, food, and drinks for several miles it brings money into the local economy, supporting local businesses and tourism. It’s also a major employer in the parish, providing five full-time jobs and the first work experience for many younger members of the Community."
2 comments:
Congratulations on becoming a part-owner of the Swan! It's inspiring to see a community come together to preserve such an important local landmark.
The story of the Swan's transformation into a community-owned pub is truly heartwarming. Wishing you and the entire village continued success in this wonderful endeavor!
Thank you for your kind words, about the Swan's community ownership scheme, Free Stickers. Like other investors, I'm waiting to hear what happens next, so watch this space!
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