The group behind a mission to bring a pub back to life has reached another milestone.
An offer to buy shares in The Miners Arms in Nenthead has closed, with the full amount raised exceeding the target.
The Miners Arms Community Pub Ltd (MACPL), a community benefit society formed to buy the pub – which first opened nearly 200 years ago but closed in 2020 - and operate it as community-run and owned, announced that a total of 242 people applied to buy shares, raising £102,880 worth – well over the minimum target of £95,000.
People from all over bought shares, including some from Canada and Hungary, across the UK, and locals.
There were also numerous investors donating to a pay-it-forward scheme which meant villagers who couldn’t afford to buy shares at full price were able to take part and own a piece of what was the heart of the village for generations.
Simon Walker, MACPL’s chair, said: “Our supporters have been fantastic – they’ve dug deep in difficult times and it’s amazing to see the final total.”
He added that he and the rest of the management board are thankful to everyone for backing the campaign.
MACPL applied for a grant of over £360,000 from the central government’s community ownership fund and was expecting the result this month, but all announcements have since been put on hold until after the general election.
On this, Mr Walker said that while it’s disappointing to not have a decision, he and the team are now in a ‘fantastic position’ to get going as soon as one is made.
He also asked anyone with ‘skills and resources’ the team could use, he’d be eager to hear from them.
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