A local organisation has purchased £500 worth of shares to help purchase the Radnor Arms pub, as the community race to raise enough funds to buy the pub after its closure in 2016.
Music in New Radnor now has a voice and vote in how the pub will develop. The community of New Radnor have opened their share offer, allowing members of the public to invest, help save the pub, and always have a say in its future.
A spokesperson for Music in New Radnor said: “We used The Radnor Arms to feed our visiting performers and often relax there ourselves after a concert for many years. It was a sad loss for the community, and we missed it when it had to close. As an organisation based in the village, we are very pleased to be able to buy shares and support the Radnor Arms.”
A spokesperson for the Radnor Arms said: “We’re immensely grateful to Music in New Radnor for their contribution towards the pub and also for keeping New Radnor prominent on the map for all these years, particularly those of ‘drought'! We are delighted that community groups such as Music in New Radnor and businesses in the area are investing in the future.
“A group, society or business purchase of shares is a great way to recognise the long-standing links between the Radnor Arms and organisations in the area. It’s encouraging to feel such recognition and support for the project. The more we speak of the project and share thoughts and ideas with our community and friends about what The Radnor Arms could be, the more exciting, relevant and real the prospect of success becomes.”
The community were awarded a grant of £240,000 from the Community Ownership Fund managed by the Government Department of Levelling Up for Housing and Communities and is aiming to raise a minimum of £130,000 from this Share Offer to purchase and begin to renovate the Radnor Arms.
The share offer closing date is May 10. Shares cost £25 each, and you can buy up to a maximum of 800 shares.