Save the Three Tuns: Momentum builds in Guilden Morden pub campaign
PUBLISHED: 12:40 12 August 2018 | UPDATED: 12:40 12 August 2018
A Grade-II listed pub that has stood empty for more than five years in Guilden Morden is one step closer to being re-opened as a community-owned venture.
The Three Tuns Community Group is hoping to raise £300,000 in shares to purchase and renovate the former watering hole.
TTCG established Guilden Morden Community Pub Ltd as a Community Benefit Society so that locals can invest in their village pub.
With a price agreed with the vendor, a community meeting was held on July 27 to launch the share offer for GMCP.
Investors and potential interested parties were given access to the business plan and 235 individuals so far have pledged to invest a total of £225,000. The share offer will close on September 1.
In total, GMCP is aiming to raise £485,000 through a combination of the sale of community shares, grants and loan funding. The minimum investment under the share offer is £250 and the maximum is £40,000.
John Harrison, a member of the GMCP management committee, said: “We have had to overcome a number of hurdles in our efforts to save this important village asset so it’s exciting to see momentum building.
“People love the idea of owning a share and see the value the reopened pub will offer to the community.
“The Three Tuns won’t be just a pub, but a community hub where people can meet for a coffee, a venue for groups to meet with free wi-fi for those without access to the internet and it could even provide space for presentations on topical issues.
“The range of additional services would be decided by a management committee elected by shareholders on a truly democratic basis.
“For rural communities like ours, a space such as this would go a long way to supporting social interaction and reducing isolation for people living alone.”
The majority of our investors have come from Guilden Morden, with a few from Ashwell, Steeple Morden and further afield – but we are hoping that we can widen the appeal to include investment from individuals and businesses in all the surrounding villages and towns.”
For more information, see www.thethreetunsguilden.co.uk. You can also find the group on Facebook by searching ‘Save the Three Tuns Guilden Morden’.