Wensleydale villagers look to buy local pub

Residents of a Wensleydale village are looking at the possibility of buying their local pub.

Following a well-attended public meeting, residents of Redmire have formed a steering group to investigate the potential purchase of the Bolton Arms, which recently came on the market.

The purchase would be through a new private limited company, with a view to leasing the property to a suitable tenant.

Villagers say the aim is to secure the long term future of the village pub and to maintain the property as an important local hub and village asset, which will also benefit the wider community and visitors to the Dales.

To aid the process, Redmire Parish Council has registered pub as a community asset with the district council.

At the meeting it was discussed how the company would work, with the shareholding made up of like-minded investors looking to own a secure freehold asset which would generate a modest return, while having additional potential for dividends based on performance.

A spokesperson for the steering group said: “At the same time shareholders can expect to enjoy the experience of being involved in a village venture, becoming part of the ownership of this property and contributing towards its future success.

“Initially a survey is being distributed to all residents of Redmire, Castle Bolton and Preston under Scar asking potential investors to indicate their general interest and approximately to what extent they may be prepared to invest.

“Interest at this stage is on a purely non-committal basis but a clearer indication of what level of support is likely will enable the group to take appropriate advice about potential other methods of funding if necessary and to move things forward.”

The pub has been put on the market with a guide price of £725,000.

Expressions of interest forms are available on request from rachelwillis58@gmail.com

1 Comment

  1. I wish you well.
    It might be an idea to contact walking agencies who put together walking holidays for people doing the Herriots way.
    As a local private hire driver ‘ I transfer baggage too and from hotels and public houses in and around the Herriots way.
    Just an idea….

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