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Save the Storey Arms - Update

1st September 2015

Our apologies that it has been some time since the last update.   For a number of months there was nothing to report and we were awaiting some decisions from the Parish Council (PC) before we were clear on our role going forward.

 

We are pleased to say that there has been some progress and we now have clarity on what will happen next.  Below is a summary of where we are and what we plan to do over the next few months.

  • It is still the intention that £200,000 from the Section 106 agreement on the Dawson’s Road development will be provided to buy the Storey Arms and a proportion of the additional £100,000 will be provided for its renovation and refurbishment

  • We have met with the PC and their solicitors to look at the process for providing this money for purchase of the pub.  Based on the solicitor’s advice the Parish Council has decided that they will provide the money to the Osgathorpe Community Pub Ltd (OCPL, us) as a grant. 

  • The next step is to agree a legal contract between the OCPL and the PC on the provision of this grant. 

  • We are told that the initial testing of the Dawson’s road site is now completed and advertising has started to get a buyer. We had thought that there was already a buyer in the wings but this does not now seem to be the case.  The most likely timing for the moneys to become available is end 2015.  This delay and is very disappointing as we had hoped to have completed the purchase by now.

  • In parallel with the land sale, we understand that the PC is looking at how they will ask for bids for parts of remaining £100,000.  OCPL will make a bid for funds to help renovate and improve the Storey Arms for the village.

  • We have started applying for Grants to support the development of the Storey Arms.  However, we can only apply for a few at this stage as most will only considered us once you have the bought the building. 

  • Once we have a firm date for the availability of funds to purchase the Storey Arms our work will then ramp up and we will work on the following:

    • We will be asking for your help and input into the detailed work we will need to do to make this a success

    • Start negotiation with Phil on the purchase of the pub

    • Re-launch of the Save the Pub campaign to remind everyone on what we have been doing and where we want to end up

    • Publish the business plan and details of how to become a shareholder and involved in the future of the pub.  The planned share price / membership fee has been reduced from £250 to £25 to encourage as many people to become members and have input into the project.

    • Start work on detailed planning on the renovation and refurbishment

    • Start recruitment of a Tennant Landlord

 

We hope this gives you a good idea on what we have been doing for the last 6 months and what will be happening in the future.

 

Best wishes,

 

Rob Whyard

On behalf of the Osgathorpe Committee Pub Ltd Management Committee

Key Aims in 2023 / 2024 

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The OPCL continues to work with the Parish Council to buy the Storey Arms for the community.

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As the planning application for the pub, to be turned into a private residence, was turned down in Oct 2023 the Storey Arms should remain a pub.  Now that this has been made clear we hope that the pub will reopen.  We also hope we can make progress with the owner to buy the pub for the community.  Our plan is as follows:

  • To agree a price with the owner based on an independent RICS Red Book valuation.

  • Once a price is agreed the membership of the OCPL would be expanded to all those wishing to join, this would take the form of an initial share issue that would be priced to encourage the maximum number of people to join, as well as to raise money for the purchase.  The membership has not been expanded before as we were making no progress on agreeing a price.

  • An agreed price enable us to apply for a Community Ownership Fund (COF) grant to buy and renovate the pub. This government fund has been providing money for communities to purchase their local pub and would be a great opportunity for us.  Successful applicants can receive up to 80% of their pub’s independent valuation, to a maximum of £250,000.  

  • Additional money would then need to be raised from other sources to bridge the gap to the agreed price, i.e. grants and / or additional share issues.

  • If we can buy the pub in this way the pub freehold would be owned by the shareholders in the community, and we would then have the choice of how best to run it. 

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None of the above would stop the owner from selling the pub to anyone they want, provided the buyer knows it should remain a pub.  If it were sold to private buyer who wanted to run it as a pub we would be happy to welcome the new owner and help to make the pub a success in the village.

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