Local Pub bought by Co-operative
Published in the Darlington & Stockton Times Friday 22nd July 2011
A co-operative set up to purchase a village pub in Coverdale has now achieved the first part of their aim and bought the premises and is now on the look out for a tenant. The Foresters Arms public house in Carlton has now been bought by the Coverdale Community Pub Co-operative for the price of £235,000.
Set up following its closure in January this year, the community group held a series of public meetings in order to invite members to pledge cash for the community purchase of the pub. With no trouble attracting sufficient support in June the Community Pub Co-operative had their offer for the premises accepted by the previous owners. They then set about the task of converting the pledges received into cash. This was done with time to spare and contracts were exchanged. Final completion took place on Thursday July 14th and the pub is now under new management.
Last Sunday the management committe opened the pub for the new owners to inspect the premises. A steady stream of both existing and potential investors came along to inspect their new ?buy? and ask questions concerning the next stage towards the opening of the pub. The co-operative needs a further £100,000 in order to bring the premises up to a standard suitable for business as a going concern.
Local resident Tony Keates an investor in the premises was on hand to look round the Foresters Arms at the open afternoon. He said,? I want the pub to re-open. As a member of CMRA I am passionate about beer. It is a really nice country pub and it is only right that it is re-opened.? In an encouraging sign having looked around the premises several visitors got out their chequebooks and invested there and then. There are also investors from both Belgium and the USA who whilst on holiday heard of the plight.
Chair of Coverdale Community Pub Ltd Management Committee Mr. Raymond Brown said,? We are delighted to have bought the premises. However our next priority is to recruit the right tenant. We also need to raise the cash to complete renovations to the building and bar. If we are going to keep to our plan to re-open the pub by Christmas, just five months away, we have to start work as soon as possible. ? The grade one listed building still appears in good condition, however the previous owners plans to convert part of the premises into accommodation is slightly at odds with the new owners vision.
The management committee is now busy preparing plans for the renovation and recruitment of a tenant. The pub will be need re-furbishing and re-equipping ready for someone to start business. Their plans are for a fully working commercial kitchen as once open the pub intends to serve meals. The main problem is access between the dining area, the bar and kitchen. The tenancy comes with full living accommodation comprising lounge, kitchen, bathroom, and two bedrooms. The pub also has three double rooms and ensuite facilities for the tenant to offer as bed and breakfast.
Applications for potential tenants can be made through the website www.coverdalecommunitypub.co.uk. The closing date is August 12th