A monumental £269,600 has been raised in Bampton’s effort to buy itself a pub.
With both pubs in the Bampton area closing, locals have taken things into their own hands, and created a community owned share buying project which got under way earlier this month.
“This has been an amazing response,” said community organiser Phil Sweetland. “I think it shows the passion people have for a successful pub under community ownership.”
He added that it was about people being able to spend money in the local economy as well as providing a community hub through the winter months.
Fundraisers have an optimal target of £360,000. Phil added that £400,000 would be preferable, making the scheme easier to run.
The deadline for the money to be found is March 3.
Shares cost £100 and individual buyers can spend a maximum of £25,000. Interest payments will be made after year three.
Share owners will have an equal vote on issues regardless of how many they own — one of the first votes being whether to change the pub’s name from The Mardale Inn to St Patrick’s Well.
The team has been active on social media trying to keep up enthusiasm.
One gem they unearthed was that almost 100 years ago the Bampton beerhouse was bought for just £1,300 at auction – a far cry from the £400,000 being sought today, but it was seen as a high price due to the predicted influx of workmen from the Manchester Corporation waterworks.
To find out more, visit bamptonvalleycommunitypub.org
