Community group launches bid to purchase historic Newport shop

A share offer to purchase a traditional ironmongers shop which has operated from the same site in Newport, Pembrokeshire since 1881, opens today.

Havards provides a wide range of everyday items including hand tools, nails and screws, key cutting, cookware and crockery, gardening equipment, outdoor clothing, walking boots and wet suits.

The fund-raising organisers, Siop Havards Gymunedol Tydrath/SHGT aim to raise sufficient funds to buy the shop to save the historic institution for the community and also help preserve the character and self-sufficiency of the town.

If the share offer is successful, Havards will operate as a cooperative community shop, owned by the members for the benefit of the community and future generations.

A total of £475,000 is needed to buy the shop and all money raised will be used to buy the building and the shop’s stock as well as to provide set-up funds and working capital.

The offer is open to anyone who wants to become part of the venture by investing and buying shares or gifting money to the fund.

Shares will cost £1 each – the minimum shareholding is £200 (i.e. 200 shares) with a maximum shareholding of £33,000 (i.e. 33,000 shares) or 10% of the total share capital raised, whichever is the greater. A Share Save option is available allowing anyone to build a shareholding.

Everyone buying a share will become a Member of the Society, giving them a say in how it runs with each member having one vote no matter how many shares they buy.

Unique

Clive Hooper from Siop Havards Gymunedol Tydrath, said: “this is an opportunity for residents of Newport and the local area as well as visitors and friends wherever they may be, to be part of the future of the town helping to preserve a unique example of a shop that can provide almost everything you need, right on your doorstep”

Cris Tomos of PLANED Community development charity added: “It is fantastic that there has been such a positive response from questionnaires and meetings that have taken place over the past few months.

“There is a full business plan and share offer document on the bilingual website. We plan to offer a good return on investment and are applying for the Social Investment Tax relief, which once clinched will allow qualifying taxpayers to have 30% of their investment back as a tax refund.

So if you ever wished to be a co-owner of a hardware shop such as Havards in Tydrath, now’s your chance, while ensuring the shop remains open to the community for decades to come!”

All information regarding how to purchase shares in the Havards Community Shop is available here….