Shares cost £25 each, and you can buy up to a maximum of 800 shares. Buying share/s make you a member of the Society, allowing you to shape the future of the Radnor Arms, which closed in 2016.
The Community Share Offer Opens March 30th 2024 for approx 6 weeks unless the maximum target is reached or at the discretion of the Management Committee.
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 are aiming to raise a minimum of £130,000 from this Share Offer to purchase and begin to renovate the Radnor Arms. Their optimum target is £180,000 and maximum target is £220,000. To access the grant, the Society must match fund pound for pound any money that is drawn down from the grant to a maximum of £200,000.
By buying shares, members of the community can stand for election, vote on significant issues, and will have a say in how the Radnor Arms is run. The maximum amount that can be invested is £20,000 by a single individual, group, or organisation.
It’s been a tough battle for those fighting for the future of the pub, but success stories such as The Raven Inn in North Wales have spurred the group on.
One resident, Jennifer, fled to New Radnor in 1939 at the outbreak of the war. She hopes to see the pub back up and running after having fond memories of it. “I loved it here; it was such a friendly and warm place, and I never forgot it even when we moved back South. Over the years I came back as often as I could to visit and, when I finally retired, I moved to New Radnor for good. I have never regretted that decision for a moment because New Radnor is still my favourite place, and all of this happened because of Bill Swain and the Radnor Arms.”
Fay Jones, MP for Brecon and Radnorshire, said: “I am delighted to be supporting the launch of the Radnor Arms Hotel Limited Community Benefit Society’s Share Offer. I have seen for myself the sheer passion and determination behind the renovation of this wonderful community asset, and was delighted that the Secretary of State for Wales and Department for Levelling Up also recognised this in making a significant award from the Community Ownership Fund. I know that progress has gone from strength to strength since then, and I am sure that it will continue to do so with the launch of this Share Issue.”
To buy a share offer, head to the website at 12.01am on the 30th March to explore the Business Plan and Share Offer Document : https://www.rahl-cbs.org/share-offer-online-investment-form