Black Swan Update: Project Cancelled

We regret to announce that the meeting tomorrow evening (Wednesday 22nd March)  has been cancelled. The team has reviewed the information received from the survey and from research &  investigations with other community pubs, the team has concluded that the project does not meet enough the key success criteria to be a viable project as a community-owned pub.

However, should an individual, or group of individuals, want to buy the pub, then there is enough evidence to suggest that the Black Swan could easily ‘fly’ again, especially as a free house. The team are very willing to share the red book valuation, our business plan and suggested forecasts. We would all be delighted if the Black Swan were to remain as a pub.

Critical Success Factors for a Community-Owned Pub

  • Community of +/-2000 required for optimum response
  • No or limited competition nearby
  • Local benefactor to act “swing financier”: eg “soft” loans
  • Good staff accommodation
  • Limited refurbishments required
  • Enthusiastic support from community
  • Ability to raise an average of £1,000/head (ranges of £500 through to £40,000)
  • Ability to pull together a Team with following skills (or free access to these skills): Legal, Commercial, Pubs/hospitality, Financial, VAT, Communications/Marketing

We would like to thank those people who donated money to the fighting fund, which we partially used to fund the ‘red book’ survey/valuation. If you would like the balance of your donation (approximately 50%) to be donated to the Village Green possible purchase, or Village Hall renovations please let us know. Otherwise the monies will be returned by cheque.

Monxton Parish Council will continue to try and purchase the village green on behalf of the parish, and potentially the car park, subject to costs and any conditions imposed by Enterprise Inns.

The team would like to thanks villagers for the support provided to date. If anyone wishes to discuss any aspect of the project please contact Sarah Dowding on sarah@classictravelling.com or Mike Cleugh at mikecleugh@hotmail.com

2 comments on “Black Swan Update: Project Cancelled

  1. Steve Baines says:

    Such a shame … Thank you to all those concerned who tried to make this project viable. Let’s hope that the acquisition of the Village Green is atainable

    Like

  2. Adrian Drage says:

    How very sad; as the song goes “you don’t know what you’ve lost ’till its gone!”. A huge thank you to all those who gave so much of their time to try and make it happen. Monxton is now one step away from becoming a hamlet.

    Like

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