Community Buy-Out Takes A Step Closer As Initial Funds Raised

The Miners Arms in Nenthead was a fixture of the local community for nearly 200 years until it closed in 2020 – now a community buy-out is a step closer as initial funds have been raised.

The Miners Arms Community Association (MACA) was formed to explore options for a community buy-out of the local pub after it came up for sale.

Residents of Nenthead came together at a special community meeting to discuss how they might go about saving their local, the Miners Arms and since its formation they been busy researching what is required for a community to successfully take ownership of a local pub.

Chair of MACA, Simon Walker said: “When we asked local people whether we should save our pub, the response was an overwhelming yes.”

“The Miners Arms was a favourite of the village and a huge part of our local community.

“We want to see it open again. It won’t be easy, but with the right support and the dedication of this community I believe we can reopen The Miners Arms together.”

MACA has continued to research the possibility of a community buy-out, arranging meetings with other successful community pubs and seeking support from The Plunkett Foundation, a charity that supports community businesses.

A community buy-out requires significant investment. It is hoped that community fundraising activities will raise a significant portion of the funds required, and there are options for grant funding being explored by MACA.

A justgiving page was established to raise funds for initial project costs such as registering as a Community Benefit Society and setting up a share offer.

Anyone can purchase shares in the Miners Arms, in exchange they become a member of the Community Benefit Society and have a say in how the pub is run in the future.

The justgiving page has so far reached over £4,000.

“A pledge in principle asks how many shares you think you may be willing to buy” said Simon Walker, Chair of MACA.

“Each share costs £1 and the minimum amount of shares you can purchase is 100. Although there isn’t a commitment at this stage being able to show the support for the project is vital to help secure grants from otherorganisations.”

“The support we have had already is tremendous but there is a lot of hard work ahead and I would encourage anyone who feels able to make a pledge.”

The pledge in principle was launched on our social media pages and already we have had pledges of over £70,000 with some coming from as far away as Cornwall and even overseas.

MACA has now formed a Community Benefit Society registered with the Financial Conduct Authority and intends to launch a full share offer in the spring of 2024.

Anyone can still purchase shares in the Miners Arms, in exchange they become a member of the Community Benefit Society and have a say in how the pub is run in the future.

Simon Walker added: “The Miners Arms was the heart of our village for residents and visitors alike, it is not until it closed that you realise what a vital lifeline it was for so many.

“Without the pub the village is losing its visitors which has knock on affects for so many businesses and residentsthat is why we must succeed with the community buy out.”

If anyone has any questions, or would like to offer skills or resources to help the Nenthead community to be successful in a community buy-out of the Miners Arms, please contact minersarms.community@gmail.com

Pledges in principle can be made at www.minersarmsnenthead.com