We wanted to take the opportunity to clarify some elements to provide complete reassurance to our shareholders and community.
We must be absolutely clear that no shareholders money has been or will be spent on the first floor works. This is entirely the responsibility of the landlord which will be carried out as a completely separate, but complementary venture to our community pub. It allows us to share the costs of the site, to occupy the profitable element of the building only, and to relinquish responsibility and cost for the upkeep of the wider building structure. Sharing the site reduces costs, which supports value for shareholders and makes our venture more sustainable.
We are concerned about the accusations that the landlord’s intentions for the upper floor were not made clear to our shareholders. Whilst this information can be found in other places, we thought it would be helpful to pull it together:
The potential first floor offices were discussed at the public meeting shares launch event on 13th October 2022 - FAQ’s were produced and published on this website (where they remain) they were also referenced and linked in a post on our FB page.
A link to the FAQ’s was also published on the Crowdfunder front page, inviting people to read before any investments were made.
Leasing of the pub from the owners was referenced in the shares pack, in a number of places.
The plan for offices was also discussed at the shareholders meeting of 22nd December 2022, referenced in a post on our FB page on 23rd December 2022.
In order to offer further clarification we will be emailing our shareholders directly.