The Bell Inn has operated as a thriving pub at the heart of Yarpole for many years.
Unfortunately the pub closed in 2018 and is at risk of being sold for residential development.
We have formed a Community Benefit Society that is in the process of putting together a bid to purchase the Bell Inn and reopen it as a business in the village.
If successful, this would safeguard the future of the Bell Inn as a community facility for many years to come.
If you would like to support the community bid, we are currently seeking pledges to indicate the level of financial support available and we would be delighted to hear from you!
The Mortimer Community Benefit Society Ltd proposal is to buy the Bell Inn and appoint a professional tenant with the experience and skills to run the pub as a profitable
and successful business for the benefit of the community and other users.
Our objective is to have a friendly and welcoming village pub that serves local beers and sensibly priced freshly prepared food. As support for a community pub has grown,
we can see that the Bell Inn could be more than a pub, and we propose to introduce a range of community amenities for older and less mobile people.
We will set a fair rent and agree a lease with the tenant who will run the pub as a free house selling food and drink and additionally offer bed & breakfast in the future.
The rent will be set at a level that gives the tenant the opportunity and incentive to run a profitable pub business and which will provide the revenue for us to maintain the building,
to repay any loans taken out and when cash reserves permit, to pay a modest interest to share-holders and to fund the withdrawal of shares from time to time.
We firmly believe that the business will be profitable, but in the unlikely event it is not The Mortimer Community Benefit Society will own a valuable asset – the building and land associated with it – which if necessary could be sold in order to return funds to investors.
Our investment is in the building and land – the bricks and mortar – not the licensed business.
Our full prospectus which soon be published outlining in detail how the business will be purchased, managed and run on a day-to-day basis.
This document will also answer any questions on the financial structure of the organisation as well as potential returns for those making pledges / investments in the Bell Inn.
The Mortimer Community Benefit Society Ltd has been formed to purchase the Bell Inn and secure its future for the benefit of the community.
It has been successfully registered with the Financial Conduct Authority.
Purchase of the minimum number of shares will confer membership of the Society, giving members control over the business through the annual election of a Management Committee and voting rights on significant issues at regular meetings. Community benefit societies are by law intended to be democratic organisations, and all members will have an equal vote, regardless of the size of their shareholding, and will have the protection of limited liability.
The Society’s rules contain a statutory asset lock. This is a constitutional device that prevents the distribution of residual assets to members.
The purpose of the asset lock is to ensure that the community benefit of any retained surplus or residual value cannot be appropriated for the private benefit of members after all members’ share capital has been refunded according to the rules of the Society.
At this stage, we are looking for registrations of interest in the form of pledges.
This will help us make an accurate assessment of the financial picture so that we can structure loans accordingly.
You can help to save the Bell Inn, please click below to access the pledge form...
PLEDGE HERE
The Bell Inn has operated as a thriving pub at the heart of Yarpole for many years.
Unfortunately the pub closed in 2018 and is at risk of being sold for residential development.
We have formed a Community Benefit Society that is in the process of putting together a bid to purchase the Bell Inn and reopen it as a business in the village.
If successful, this would safeguard the future of the Bell Inn as a community facility for many years to come.
If you would like to support the community bid, we are currently seeking pledges to indicate the level of financial support available and we would be delighted to hear from you!
The Mortimer Community Benefit Society Ltd proposal is to buy the Bell Inn and appoint a professional tenant with the experience and skills to run the pub as a profitable
and successful business for the benefit of the community and other users.
Our objective is to have a friendly and welcoming village pub that serves local beers and sensibly priced freshly prepared food. As support for a community pub has grown,
we can see that the Bell Inn could be more than a pub, and we propose to introduce a range of community amenities for older and less mobile people.
We will set a fair rent and agree a lease with the tenant who will run the pub as a free house selling food and drink and additionally offer bed & breakfast in the future.
The rent will be set at a level that gives the tenant the opportunity and incentive to run a profitable pub business and which will provide the revenue for us to maintain the building,
to repay any loans taken out and when cash reserves permit, to pay a modest interest to share-holders and to fund the withdrawal of shares from time to time.
We firmly believe that the business will be profitable, but in the unlikely event it is not The Mortimer Community Benefit Society will own a valuable asset – the building and land associated with it – which if necessary could be sold in order to return funds to investors.
Our investment is in the building and land – the bricks and mortar – not the licensed business.
Our full prospectus which soon be published outlining in detail how the business will be purchased, managed and run on a day-to-day basis.
This document will also answer any questions on the financial structure of the organisation as well as potential returns for those making pledges / investments in the Bell Inn.
The Mortimer Community Benefit Society Ltd has been formed to purchase the Bell Inn and secure its future for the benefit of the community.
It has been successfully registered with the Financial Conduct Authority.
Purchase of the minimum number of shares will confer membership of the Society, giving members control over the business through the annual election of a Management Committee and voting rights on significant issues at regular meetings. Community benefit societies are by law intended to be democratic organisations, and all members will have an equal vote, regardless of the size of their shareholding, and will have the protection of limited liability.
The Society’s rules contain a statutory asset lock. This is a constitutional device that prevents the distribution of residual assets to members.
The purpose of the asset lock is to ensure that the community benefit of any retained surplus or residual value cannot be appropriated for the private benefit of members after all members’ share capital has been refunded according to the rules of the Society.
At this stage, we are looking for registrations of interest in the form of pledges.
This will help us make an accurate assessment of the financial picture so that we can structure loans accordingly.
You can help to save the Bell Inn, please click below to access the pledge form...
PLEDGE HERE