- The Hullavington Arms was Hullavington’s last pub. It was built to serve the railway workers living in a camp outside the village as they made the Great Western Railway line.
- It wasn’t built to last – it was drafty, cold, poorly insulated, and acoustically challenged.
- With Covid closely followed by the energy crisis its closure wasn’t a surprise
We have been offered the chance to buy The Old Stables
- It will be a community asset, run on our terms
- The design and services provided will meet the needs of the community – it will be our choice.
How do we plan to do this?
- Apply to the Community Ownership Fund
- We have set up a community benefit society to apply for the money, because it is run as a business for the benefit of the community, rather than just for members of the society.
- This means that it must have an overarching community purpose that reaches beyond its membership.
This Diagram explains in a very simplified manner how Hullavington Benefit Society Shares will work
We are extremely confident that our Pub and Hub space will be successful, any profit made will be reinvested or spent on community projects (as agreed by the membership).
However, if despite all the effort everyone has put in to make this a success it ultimately fails, what happens then?
If for any reason the Old Stables makes a loss and the business fails, the shareholders would lose the value of any shares held, but that would be the limit of their liability. The Old Stables is asset locked, which means that it would remain in community ownership and could be used in a different way in the future.
Hullavington Community Benefit Society also provides additional safeguards for our community when purchasing community assets. Click here for full details.
Timeline
| Process First Considered | 29 Jan |
| Decision to Apply for Funding | 05 Feb |
| First Community Engagement | 16 Feb |
| Sufficient Evidence of Community Support | 03 Mar |
| Expression of Interest Submitted | 04 Mar |
| Expression of Interest Approved | 04 Mar |
| Benefit Society Formed | 08 Mar |
Upcoming milestones
| Valuation of The Old Stables – ✅ – report received 26th May |
| Agreement to Sell – ✅ – Draft Heads of Terms 30th May |
| Submit Application – delayed from 30th May following the election announcement |
| Apply for Licence |
| Pre-planning Approval Sought |
| Funding Granted |
| Purchase |
| Renovation |
| Open |
