THE THUMB IS SET TO RETURN
AS A CO-OPERATIVE PUB-
COMMUNITY SHARE OFFER open
2nd AUGUST 2017
The Northumberland Arms in Marple Bridge closed its doors on Sunday 16th January 2017.
Our community now has the opportunity to buy it and create a community owned pub in
the heart of the local area. This will secure the sustainability of the business for the future
and create a focal point for the area and help keep our sense of community.
Our community now has the opportunity to buy it and create a community owned pub in
the heart of the local area. This will secure the sustainability of the business for the future
and create a focal point for the area and help keep our sense of community.
The Northumberland Arms has served our community as a traditional local pub since 1824, when the premises were leased by Charles Twist from the Duke of Norfolk. It is a pub with a unique character, its multi room layout retaining its charm and warm welcoming atmosphere. In recent times, several local pubs have closed their doors and those that remain have had to look to new ways to survive and prosper. Nationally, it is estimated that 29 pubs close every week.
To try and prevent the permanent closure of The Northumberland Arms, which is such an important asset to our community, we have formed a steering group and with strong community support we were successful in listing ‘The Thumb’ as an Asset of Community Value, which helps prevent its sale to developers. Our Community now has the chance to purchase and run it as a Community owned pub. Robinsons Brewery have accepted our offer for the Northumberland Arms and are supportive of our wish to continue to run it as a Community pub.
To try and prevent the permanent closure of The Northumberland Arms, which is such an important asset to our community, we have formed a steering group and with strong community support we were successful in listing ‘The Thumb’ as an Asset of Community Value, which helps prevent its sale to developers. Our Community now has the chance to purchase and run it as a Community owned pub. Robinsons Brewery have accepted our offer for the Northumberland Arms and are supportive of our wish to continue to run it as a Community pub.
Who we Are
We are an enthusiastic group of local residents who, following several public meetings, have formed a steering group to secure the future of ‘The Thumb’. Our number is made up of professionals in the fields of business, architecture, finance, pub management and administration. Our Aims We have formed a community benefit society, The Northumberland Arms Community Society Limited, to buy the Northumberland Arms to protect it for the future. We want to run it as an enterprise for the good of the area, for the present and for future generations. We want to diversify the business to include a daytime café, which will increase usage and further enhance the community hub and increase engagement with the community.
Our Progress
We have now reached agreement with the current owners, Frederic Robinson Ltd, for the purchase of the premises. We will be launching the community share offer on 1st July 2017, along with a detailed business plan. We have held 5 public meetings to date and obtained many pledges of support and ideas for the future use and sustainability of the venture. We have secured assistance from the Plunkett Foundation, a charity who give support to communities like ours in taking control of their local pub.
Next steps
Our Community Share Offer is now open.
How do community shares work?
A community share offer provides the opportunity for people and businesses to buy into the community where the motivation and payback is more social than financial. The share you buy would make you a Member of the society, with an equal vote regardless of your shareholding. Your involvement thereafter could be as much or as little as you wish. You could vote at Annual General Meetings, stand for election to the Board of Directors, inspect the share register of the society, volunteer skills for the refurbishment or just give the community hub your custom.
What is in it for me?
This isn’t just about buying a pub, it is about helping to sustain a community. Neither is it about financial reward – this is about investing in the future of the community and ensuring The Northumberland Arms is run for the good of the village, for us now and for future generations. Shares cannot go up in value. Therefore, if you wished to withdraw shares at any point they could only be withdrawn at face value. In the event of having to wind up theSociety, should the value of the Society’s assets exceed the value of the share capital, the shareholders would still only get back their original investment. Any excess value would be transferred to another community organisation having similar community benefit aims. This is known as an asset lock and is to prevent private gain if the organisation dissolves. However, as the shares would be issued by a corporate body, shareholders would have no liability beyond the value of the shares they buy. When the business is in profit, the Society would aim to pay interest on the shares at a rate to be recommended by the directors and voted on at the AGM. Interest is paid gross and is taxable. You would be responsible for declaring this income to HMRC. Any profits beyond this would be retained within the Community Hub and used to further its activities. Further details will be available in the Business Plan and share offer documents at a later date.
Get involved
This community proposal is challenging and needs further help. There are many ways you might get involved, perhaps you are a professional fundraiser, PR or Marketing expert who can offer expertise, or maybe you can offer ideas to get the venture off the ground, assist with the campaign, or attend advertised public meetings. Ultimately, you can support the venture by buying shares
and making the project a reality. This is about investing in the future of the community and ensuring the Northumberland Arms
Community Hub is run for the good of the village, for us now and for future generations.
CONTACT US:
[email protected]
OR DROP A NOTE OFF AT LOFTHOUSE BUTCHERS,
ACROSS THE ROAD FROM THE PUB
WWW.THENORTHUMBERLANDARMS.CO.UK
We are an enthusiastic group of local residents who, following several public meetings, have formed a steering group to secure the future of ‘The Thumb’. Our number is made up of professionals in the fields of business, architecture, finance, pub management and administration. Our Aims We have formed a community benefit society, The Northumberland Arms Community Society Limited, to buy the Northumberland Arms to protect it for the future. We want to run it as an enterprise for the good of the area, for the present and for future generations. We want to diversify the business to include a daytime café, which will increase usage and further enhance the community hub and increase engagement with the community.
Our Progress
We have now reached agreement with the current owners, Frederic Robinson Ltd, for the purchase of the premises. We will be launching the community share offer on 1st July 2017, along with a detailed business plan. We have held 5 public meetings to date and obtained many pledges of support and ideas for the future use and sustainability of the venture. We have secured assistance from the Plunkett Foundation, a charity who give support to communities like ours in taking control of their local pub.
Next steps
Our Community Share Offer is now open.
How do community shares work?
A community share offer provides the opportunity for people and businesses to buy into the community where the motivation and payback is more social than financial. The share you buy would make you a Member of the society, with an equal vote regardless of your shareholding. Your involvement thereafter could be as much or as little as you wish. You could vote at Annual General Meetings, stand for election to the Board of Directors, inspect the share register of the society, volunteer skills for the refurbishment or just give the community hub your custom.
What is in it for me?
This isn’t just about buying a pub, it is about helping to sustain a community. Neither is it about financial reward – this is about investing in the future of the community and ensuring The Northumberland Arms is run for the good of the village, for us now and for future generations. Shares cannot go up in value. Therefore, if you wished to withdraw shares at any point they could only be withdrawn at face value. In the event of having to wind up theSociety, should the value of the Society’s assets exceed the value of the share capital, the shareholders would still only get back their original investment. Any excess value would be transferred to another community organisation having similar community benefit aims. This is known as an asset lock and is to prevent private gain if the organisation dissolves. However, as the shares would be issued by a corporate body, shareholders would have no liability beyond the value of the shares they buy. When the business is in profit, the Society would aim to pay interest on the shares at a rate to be recommended by the directors and voted on at the AGM. Interest is paid gross and is taxable. You would be responsible for declaring this income to HMRC. Any profits beyond this would be retained within the Community Hub and used to further its activities. Further details will be available in the Business Plan and share offer documents at a later date.
Get involved
This community proposal is challenging and needs further help. There are many ways you might get involved, perhaps you are a professional fundraiser, PR or Marketing expert who can offer expertise, or maybe you can offer ideas to get the venture off the ground, assist with the campaign, or attend advertised public meetings. Ultimately, you can support the venture by buying shares
and making the project a reality. This is about investing in the future of the community and ensuring the Northumberland Arms
Community Hub is run for the good of the village, for us now and for future generations.
CONTACT US:
[email protected]
OR DROP A NOTE OFF AT LOFTHOUSE BUTCHERS,
ACROSS THE ROAD FROM THE PUB
WWW.THENORTHUMBERLANDARMS.CO.UK