Wensleydale community raises £180,000 to buy village pub

The Old Horn. Photo: Gordon Hatton.

A total of £180,000 has been raised to buy a Wensleydale pub.

The Old Horn Community Pub Society says it has hit the target from a share offer to help it buy the pub in Spennithorne.

The doors have been shut at the pub Spennithorne since September, with villagers launching the society to buy the premises and run it as a community asset.

The estimated cost of buying and renovating the Old Horn is £360,000 and the society wanted to raise half that amount through the sale of shares to unlock government funding.

The group said in a statement issued to supporters on Wednesday: “As you know, our community share offer closed on 24th January. Our target share raise was a minimum of £165,000 and a maximum of £180,000.

“After receiving some last minute applications, including some in the last few hours, we are delighted to advise you that we have over 140 investors in the project and the total value of applications is an incredible £180,000 — the maximum amount.

“We cannot thank you enough for all the support you have given to us. This is a real example of how a community can work together in a common cause.”

The money will now be held until the society is sure it can proceed.

It added: “This clearly depends on the outcome of our funding bid to the government community ownership fund.

“As soon as we hear the result of our application we will call a members meeting to discuss the next steps

“We will not issue share certificates until we are sure we can proceed but we have a members register with all investment details noted.”