Wensleydale community pub purchase plans progress

Villagers say they are making progress in their plans to buy their village pub.

The steering group overseeing the proposed purchase of the Bolton Arms in Redmire say they are delighted with the response from both locals and visitors to the area.

More than 25 firm expressions of interest in purchasing shares have been made, totalling more than £250,000.

This support has encouraged the steering group to go ahead with the formation of a community benefit society, supported by the Plunkett Foundation.

Registered as Redmire Community Pub Ltd, the group will be eligible to issue shares.

Villagers say this structure has been decided upon following advice, as it allows returns to investors of up to 5 per cent or 2 per cent over base rate once available funds for distribution to members are available.

The group says is also means the group is able to apply for available grants and match funding to further support the project.

For the next two weeks expressions of interest notifications can still be deposited in the collection box in Redmire Village Hall.

Please enter a contact number or an email address if possible.

Alternatively you can email info@clarksonsaccountants.co.uk

Villagers say a meeting will be held in March to which all those who have expressed interest will be invited.

Prior to this a list of FAQs, and answers, will be made available.

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