Hudswell Community Pub
In February 2010 a co-operative formed by the people of Hudswell in North Yorkshire bought the local pub which had been closed for 18 months.
Other communities are expected to follow this example which is encouraging a new trend in co‑operative ownership of local assets.
The pub was a casualty of the credit crunch.
The last landlord bought it when property prices were at their highest. When business declined as a result of the recession they couldn't make the mortgage repayments. The co-op won't have that problem because we haven't borrowed any money.
Martin Booth, one of the directors of the new co-operative.
About 250 people live in Hudswell, located high about the River Swale and the popular market town of Richmond.There are four farms, a riding stables and a holiday chalet business but most people work outside the village or are retired. There is a village hall but no shop or post office.The closure of the George and Dragon in August 2008 was a blow to the social fabric of the village, as well as the loss of a local business. By June 2009 the empty pub remained unsold and so the villagers formed the Hudswell Community Pub Initiative and made an offer to buy it.
The group registered an industrial and provident society, prepared a business plan, issued a prospectus and raised £224,000 in share capital. They received advice and support from a number of different sources, including Co-operative and Mutual Solutions (CMS) appointed by The Co-operative Enterprise Hub.
The George and Dragon is now owned by Hudswell Community Pub Ltd, which is democratically owned and controlled by its members. On 18 February 2010, when the sale was completed, there were 152 members including 77 from Hudswell. The co-operative has appointed a tenant to run the business. The tenant is free to make all key business decisions but there are various conditions. The co‑operative wants to ensure that the pub is used for community events, celebrations, and cultural and social activities. There are plans to run a small shop from the premises and to develop part of the land as community allotments. There is also planning permission to develop a bed and breakfast annex.
Community Investment
Ventures like Hudswell Community Pub work when communities pool their resources to invest in an enterprise that serves a social or community purpose. It's an old idea that's currently attracting new interest.
In recent years the community investment model has been used to raise capital for fair trade, wind farms, hydro electric generators, village shops, community development funds, telecoms co‑operatives and now community-owned pubs.
The Co-operative Enterprise Hub is working with a number of experts in this field and can direct you to the best sources of advice.
More Information
Download the full case study [PDF,158kb]
Contact Details
For more information about Hudswell Community Pub please visit http://www.richmond.org/community/hudswellpub