Sidbury pub to become East Devon community first

06:30 31 March 2014

Campaign chairman Fred Burnett and secretary John Loudoun with East Devon MP and pub patron Hugo Swire and Red Lion landlord Neil Anthony

Campaign chairman Fred Burnett and secretary John Loudoun with East Devon MP and pub patron Hugo Swire and Red Lion landlord Neil Anthony

Archant

Regulars at Sidbury Red Lion are toasting a big step forward that should see it transformed into East Devon’s first community-owned pub.

Campaigners saw their bid initially rejected when they undercut the £295,000 asking price, but now ailing owners Punch Taverns have accepted the offer.

Sidbury Community Enterprises now faces the task of not only raising the funds to buy it, but also covering the start-up costs and footing the bill of their ambitious refurbishment plans.

Group chairman Fred Burnett said: “We are very pleased to have agreed a purchase price that is below what the owner has been asking for it.

“We need the community in Sidbury, and the wider Sid Valley, to now open their wallets and purses in order to raise the funds we need.”

The group wants to develop the pub as a social space to be shared by families, youths and older residents beyond the traditional pub offerings.

Sidbury Community Enterprises group will be launching its financing scheme offer in the next few weeks, in which anyone looking to invest can buy £50 shares, up to a total value of £20,000.

John Loudoun, its secretary, said: “We really need everyone to buy as many shares as they can, because if we cannot raise all the money needed in the next couple of months then we will not be able to purchase the pub.

“In those circumstances this community focused-venture will not happen. We need local people to help us give the Red Lion back its roar.”

Sidbury Community Enterprises is holding open days to let potential investors know about the share scheme in the village hall on Friday, April 25, and Saturday, May 3.

Punch Taverns put the pub on the market last year as it looked to clear its £2.4billion debt.

Campaigners have been trying to preserve the last pub in Sidbury since May and successfully had it listed with the district council as an asset of community value, temporarily blocking its sale to anyone else.

2 comments

  • We ended up living in East Devon because of a stay in Sidbury 11 years ago. We chose another village because we felt there were a lot of holiday lets in Sidbury - but we went to the pub, took part in the quiz and thought it was a good pub. We will keep our eyes open and be buying a share to help them out - good luck to them!!

    Report this comment

    Sue

    Monday, March 31, 2014

  • We ended up living in East Devon because of a stay in Sidbury 11 years ago. We chose another village because we felt there were a lot of holiday lets in Sidbury - but we went to the pub, took part in the quiz and thought it was a good pub. We will keep our eyes open and be buying a share to help them out - good luck to them!!

    Report this comment

    Sue

    Monday, March 31, 2014

The views expressed in the above comments do not necessarily reflect the views of this site

Other News Stories

Thu, 13:19
Mary King greeted with Herald in California

Olympic silver medallist Mary King was met with a familiar sight in the Californian heat on a recent trip to America - as she was greeted with a copy of the Sidmouth Herald.

Read more
Wed, 16:49
Jonathan Marshall

A celebrity falconer’s media career is in ruins after he forged an animal passport for his Golden Eagle so he could appear on the ITV Alan Titchmarsh show.

Read more
Wed, 13:18
Head teacher of Newton Poppleford Primary School, Stuart Vaughan. Ref shs 3049-50-14AW. Picture: Alex Walton.

The £2.5million rebuild of Newton Poppleford Primary School will be good for the pupils and the community as a whole, according to its headteacher.

Read more
Wed, 10:11
Money

Small-scale developers will no longer have to compensate communities for the extra pressure their new homes will place on schools and leisure facilities, under new rules announced by central government.

Read more

Local Weather

Overcast

Overcast

max temp: 11°C

min temp: 11°C

Most Read News

Photo Orders
Competitions
Subscriptions
Facebook
Family notices

Digital Edition

Image
Read the Sidmouth Herald e-edition today E-edition
Devon�s trusted business finder