BREAKING NEWSPurchase Update...Well, we thought we were almost there...but...
Following a very significant meeting at Halifax Town Hall on 1st October 2018, it’s fair to say we’re feeling somewhat happy! For the last few months we’ve been negotiating with the Holywell owner to complete the pub purchase. But the overage clause he wished to include was simply unrealistic and we couldn’t possibly agree to it. The owner wasn’t prepared to proceed without such clause included so negotiations broke down. Calderdale Council have been working with the Holywell Community Pub Ltd, and the Holywell owner for almost a year now to broker a deal between the two parties, however in light of the breakdown in those negotiations, we requested that the council consider a Compulsory Purchase Order, to acquire the freehold of the property. |
NEW July Newsletter
In this months issue:
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The report came before the Council Cabinet meeting on 1st October, and such is the evidence to support what we are aiming to do with the Holywell Inn, and the benefit it will bring to the area, Council officers recommended that a compulsory purchase of the building should go ahead.
So, what does this mean...
Well he Council has agreed to use Compulsory Purchase powers to acquire the freehold of the Holywell Inn, this will need to follow a strict process, and has to be agreed by the Secretary of State, and as you can imagine will not be completed overnight. Once the process has been completed, the freehold of the property will be immediately transferred to the Holywell Community Pub Ltd. Only at this point will the Holywell Inn be under the Holywell Community Pub Ltd ownership.
There is still a long way to go, but we are moving in the right direction, and are setting a precedent for other pub saving groups throughout the country.
You can find a report on the Council's decision to proceed with a CPO in the Halifax Courier HERE
Also a Webcast of the Council Cabinet meeting can be found on Calderdale Council's website HERE, along with the associated Cabinet report HERE
This is a perfect time to get involved and become part of the Holywell Community Pub.
For more information on the Share Issue, download the prospectus HERE, or contact Mark Stead, Facilities Manager on 07737 884679, or send your questions to hcplshareissue@outlook.com
So, what does this mean...
Well he Council has agreed to use Compulsory Purchase powers to acquire the freehold of the Holywell Inn, this will need to follow a strict process, and has to be agreed by the Secretary of State, and as you can imagine will not be completed overnight. Once the process has been completed, the freehold of the property will be immediately transferred to the Holywell Community Pub Ltd. Only at this point will the Holywell Inn be under the Holywell Community Pub Ltd ownership.
There is still a long way to go, but we are moving in the right direction, and are setting a precedent for other pub saving groups throughout the country.
You can find a report on the Council's decision to proceed with a CPO in the Halifax Courier HERE
Also a Webcast of the Council Cabinet meeting can be found on Calderdale Council's website HERE, along with the associated Cabinet report HERE
This is a perfect time to get involved and become part of the Holywell Community Pub.
For more information on the Share Issue, download the prospectus HERE, or contact Mark Stead, Facilities Manager on 07737 884679, or send your questions to hcplshareissue@outlook.com
UPCOMING EVENTS
- Craft Fair, Date and Venue TBC
- Christmas Wreath Making Workshop, Date and Venue TBC
- Quiz Night, Date and Venue TBC
- An evening with Dr Sarah Jarvis, Date and Venue TBC
SHARE ISSUE UPDATE...
We have had a real flurry of new subscriptions to our unique Share Issue over the past month, with now over 25 subscriptions being taken. This may only be one quarter of the available subscriptions, but means that the Share Issue fund is growing by over £700 per month!
This regular income is such a positive message to give to funding bodies, it shows that we have a core of people committed to the venture, and have the necessary funds to service finance in the short term until the Holywell Inn is finally re-opened.
But ideally, we need more investors. The more investors we have the more attractive our proposition looks to financial institutions.
These funds are held in a separate bank account, and they can only be used for the purchase and renovation of the Holywell Inn. If we fail to secure the purchase of the building, the money will be returned in full to the subscribers. There really is no risk!
So here is a summary of the Share Issue:
- Share Offer - 120,000 shares at £1 to raise £120,000
- Maximum of 100 share subscriptions - Any member can buy more than one subscription
- Instalment based - £25 per month per subscription for 48 months
- Target annual compensation - Up to 2% over Co-Op bank Base rate
- Every member has an equal say, one member one vote
To become a member is very simple just download the Share Issue Prospectus HERE and read fully. Complete the standing order mandate and return it to your bank. And that's it.
There really is no better time to join our unique Share Issue. Download your prospectus and form NOW!
However, if you have any questions, don't hesitate to contact the facilities manager, Mark Stead by phone on 07737 884679 or by email at hcplShareIssue@outlook.com
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