Villagers celebrate passing community pub target

The villagers of Crymych in north Pembrokeshire are celebrating surpassing their target of raising £175,000 to buy their local pub.

The community has raised £191,000 within just eight weeks of launching their community share offer on 1 April.

The original target was set at the level needed to continue with their efforts to buy the Crymych Arms which has been shut for 18 months.

The local football club that was only established three years ago, has led on the initiative by registering itself as a mutual society cooperative to then issue shares in raising the funds to buy the local pub to reopen it as a community hub and as the new club house.

The football committee members are now awaiting the outcomes of grant funding bids to clinch all the finance needed to buy and reopen the community hub by this August.

Several hundred people have bought the £100 shares so far, which means they not only own part of a pub but also be co-owners of a football club as it is shares in football club that will be used to buy the pub.

The full asking price of the pub is £275,000 and the committee of the football club will continue to accept new members wishing to buy the £100 shares despite the initial target being surpassed.

Anyone interested in the venture can get full details and the share offer prospectus here……

The next public meeting that is open to anyone who wants to learn more about the community venture will be on Wednesday 14 June at 7pm at Crymych market hall.