Shares up for grabs in community-owned village pub

Invitations are being made to people in the Melton area to buy a share in a much loved village pub to keep it open as a community asset.
By Nick Rennie
Published 6th Jul 2022, 13:57 BST
Updated 6th Jul 2022, 14:01 BST
The Black Horse at GrimstonThe Black Horse at Grimston
The Black Horse at Grimston

Villagers have battled for more than two years to prevent the Black Horse, at Grimston, from being redeveloped into housing.

Members of The Black Horse Community Group have now come to an agreement with the owners to buy the pub, which has been a fixture in the village since 1753 and won awards for its food in recent years.

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They need to raise £460,000 to buy the premises, carry out renovations and obtain the necessary certifications to get the pub open again.

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The community group has launched a share issue with the aim of generating £230,000 while also apply for match-funding from the government’s Community Ownership Fund.

Group chair, Mike Petty, said: “We want to open the share issue applications to both past and future customers to enable them to take part in this monumental project.

"We are a small rural parish with only 115 households, but with many people beyond our parish, in the wider community, also taking part in this social project we can climb this mountain.”

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Each share costs £50, but The Black Horse Community Group is encouraging minimum share applications of £250, with a maximum of £20,000 from any individual or corporate body.

Interested parties can click HERE to download share application forms or get more details on the share issue brochure and business plan.

The Black Horse closed in January 2020 with the owners saying it was no longer sustainable as a rural business.

Villagers at Grimston, Saxelbye and Shoby objected strongly to two subsequent planning applications, in March 2020 and June 2021, to convert most of the pub to residential use.

The share issue closes on Friday August 26.

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The community group is also holding morning drop-in sessions in Grimston Village Hall on Saturday; on Sunday July 31; and Saturday August 20, all starting at 10am, where committee members will be on hand to answer questions and copies of the documentation will be available.

Anyone interested in becoming a the tenant of the pub, when it is opened, is encouraged to contact Mr Petty.

Related topics:VillagersMelton