Community bid to buy village pub near Oxford fails

Leanne Charlett was a child when her parents ran the Red Lion in Yarnton for 10 years.

The Admiral Taverns hostelry closed and earlier this year she launched a community bid to raise up to £260,000 to buy it, with the help of matched funding.

READ MORE: New extended Oxford Tube coach service starts 

The pub in Cassington Road was registered as an asset of community value and shares were sold through the Yarnton Community Benefit Society to help raise the funds needed to buy the £425,000 freehold but only about £10,000 was raised.

The Asset of Community Value order expired last week, and a pub company or another interested party could now acquire the closed pub from Admiral Taverns.

A statement put out by the steering group of Yarnton Community Benefit Society on October 14 reads: “We embarked on this mission through a community share offer, aiming to reach a minimum sum of £260,000.

"These funds were pivotal in placing an offer with Admiral Taverns and making our dream a reality. However, despite the enthusiasm and trust that many of you have shown, we managed to raise only £10,050 from 49 shares.

“Given the circumstances, it is with disappointment that we, the steering group, have decided to withdraw from the acquisition of the Red Lion. This decision, not taken lightly, comes with the realisation that it is in the best interest of all stakeholders involved.

“In these trying times, the spirit and dedication of our community have never been clearer. Your support has demonstrated the robust unity and shared aspirations we hold for our beloved Yarnton.

READ MORE: 'Axe attack' in east Oxford

We move forward, albeit in a different direction than initially envisioned, with continued dedication to fostering community and preserving our unique local character.

“Current information from Admiral Taverns indicates another buyer, once the ACV has ended. We hope the new owners will continue its legacy as a community pub.”

Another factor in the society's withdrawal, according to the Oxford Drinker, the magazine of real ale group CAMRA (Campaign for Real Ale) was the failure to secure Government funding to match the amount raised by the share offer.

It is understood the society also raised money through fundraising efforts which will be spent on other projects in the village.

There are community-run pubs across Oxfordshire.

READ MORE: Rise in vehicle thefts across Thames Valley 

A community bid to run The Crown in Marcham did not go ahead and instead it was bought by Oak Taverns and reopened last month.

The White Horse in Stonesfield near Witney has started running pop-up pub sessions in advance of full reopening next year, following a successful community bid.