More info:

• We will not set up the Community Interest Company until share-purchase pledges reach £500,000.
• If that target is not reached no money will change hands and the pub will almost certainly be sold to a property developer.
• When we reach £500,000 in share-purchase pledges we will have a real chance of raising enough to buy the pub (although £500,000 will not be the full price) and so we will set up the CIC and begin selling shares.
• The sale-value has not yet been confirmed but will be high because it includes two integral three-bedroom dwellings, and is likely to receive change-of-use to convert the bar to another dwelling. Obviously the CIC would not make this conversion but would preserve the pub area as is, however the purchase price will reflect its part-residential status. Income from lettings will help support the pub operations.
• Our operating aim would be to build up capital to pay for repairs and maintenance, to enable community grants and to be able to buy-back shares should this be required. We ask that you only pledge to buy shares if you believe you can afford to leave your capital in the company for at least three years, to give the company time to build up cash reserves.
• To stay in touch with all the latest news please e-mail savetheroyalhotel@gmail.com and we'll add you to the mailing list.