Purchase offer approved unanimously by pledgers at meeting
A proposed purchase offer for the Hare and Hounds was approved unanimously last night at a meeting of pledgers. The proposed offer had been agreed between between the Steering Group and the owner of the Hare and Hounds following negotiation. The formal offer will be presented to the owner this week. The community effort to purchase the Hare and Hounds now moves into the next phase. In the coming weeks the Steering Groups will be working hard on:
- Organising a structural survey of the property.
- Preparing the share offer and refining the business plan.
- Seeking a tenant to operate the pub.
To make the purchase and operation of the Hare and Hounds are success, we are still seeking new expressions of interest in purchasing equity in the pub and welcome any increases in commitment from those who have already pledged. We hope to have a prospectus for the share offer available in the coming weeks.