In 2020 our community took over ownership of our village pub, the Kings Arms. A Community Benefit Society was formed called Strete Community Pub Limited, an initial share offer was successfully run and the pub re-opened in October 2020.
We’d like to think the Kings Arms is special. It was built in the 1830s by local farmer Mr William Oldrieve. Since then, the great and the good have rubbed shoulders with many a humble local. The Prince of Wales, the future Edwards VIII, visited when he was a cadet at the naval college in Dartmouth, as did the future King Alfonso of Spain. Jack Yeats, Perhaps Ireland’s finest artist lived locally and visited with his poet brother WB Yeats, winner of the Noble prize for literature.
They came for the excellent local ale and cider, the wonderful local food and perhaps the finest views in South Devon. Just as people do today.
Since the community took over the pub though, the journey has not been straightforward. Covid, the hospitality staffing crisis and the cost of living crisis have all made it a bumpy ride.
But the pub has survived, it is still busy and it is still owned by the community. To achieve this though, cash reserves had to be used, reserves that should have been invested to improve the pub’s health and maintain the buffer against the weak winter trading that all pubs in this part of the world inevitably face.
Because of this, the committee who manage the pub on behalf of the community have decided to hold a second share offer.
The hope is to broaden ownership, to allow more and more people who love the pub, the village and the area a chance to get involved. That’s why shares can be purchased for as little as £50….although you can always in vest as much as £20,000 if you so choose.
Whatever you do, wherever you live, please join in.
The read or download the share offer prospectus please click here.
To go straight to the application form please click here.
The more people participate, the more likely it is that the Kings Arms will thrive as a village pub, as a symbol of the Great British Boozer. Please, if you can, invest, visit, volunteer or just spread the word.