support

About support

Posts by :

November 9, 2022

Property improvements set to go ahead for Co-operative Housing Association

support Featured, Financing Co-operative Housing, Lending, News

Leaseholders of Glenkerry House have secured funds for a series of works required to maintain iconic ‘brutalist’ building in East London.

A Grade II listed building, Glenkerry House situated in Poplar within the London Borough of Tower Hamlets was designed by celebrated modernist architect Ernő Goldfinger (the inspiration for the name of a villain in Ian Fleming’s James Bond books) with the purpose of providing access to co-operative housing schemes to communities in the Greater London area. Completed in 1977, Glenkerry House was established as a Community Leasehold Housing Co-operative by the Greater London Secondary Housing Association and by 1980 was handed over to an elected Management Committee of residents.

Glenkerry House – designed by modernist architect Ernő Goldfinger

Fast forward to 2022 and residents, alongside Lamberts Chartered Surveyors, have outlined a series of property improvements based on an assessment of the communal maintenance needs of the building. Works, consisting of the external redecoration of the thirteen-storey block, together with sundry repairs to timber, concrete, and subsidiary roofs, commenced in July 2022 following delays to the plans due to pandemic restrictions.

Obtaining loans from Co-operative & Community Finance and Co-op Loan Fund (managed by CCF) to contribute to the financing of the property improvements has meant payment to contractors can be secured.

Membership of Glenkerry Co-operative Housing Association is automatically given to property leaseholders with an understanding and commitment to co-operative values and ownership being part of the application criteria.

In a joint statement Matt Beannie, Secretary and Kieran Crilly, Treasurer of Glenkerry Co-operative Housing Association said: “The value of these loans to the Association has been the commencement of much needed and welcomed improvements to our home, that ensures the continued sustainability of our unique housing model, and the revitalisation of an iconic piece of Brutalist architecture.”

Kevin Lloyd-Evans, Lending and Relationship Manager at Co-operative & Community Finance said: “We are delighted to be able to support Glenkerry Housing Co-operative. Housing Co-operatives offer an excellent opportunity to meet the affordable housing need in the UK. However, the sector is massively under resourced. Helping Co-operatives prove the model works is vitality important. London’s lack of affordable housing is well known. Our finance amount tends to be small however catalytic in nature.”

Find out more about Glenkerry Co-operative Housing Association by visiting their website.

FriendsoftheNewtonStMartinPub_FeaturedImage

November 1, 2022

Community provides greater opportunity for connection as residents secure ownership of village pub

support Featured, Lending, More Than a Pub, News

Locals look to improve the wellbeing and social glue of the community through the purchasing of their village pub with help from Co-operative & Community Finance’s ‘More Than a Pub’ finance package.

The Prince of Wales pub has served its community for hundreds of years dating back as far as the 17th century.

Located in hamlet of Newtown in St Martin within the Lizard Peninsula of South West Cornwall, The Prince of Wales pub has served its community for hundreds of years dating back as far as the 17^th century as the village’s only pub. After closure during the pandemic in 2020, locals have come together to organise the purchase of the pub developing a business that is community driven and provides customers with greater opportunities for connection.

A survey was conducted by residents towards the end of 2020 and following a swell of support from the village for community ownership, ‘Friends of the Newtown St Martin Pub Ltd’ was formed as a Community Benefit Society in February 2021. Along with a community share offer and help from Co-operative & Community Finance’s ‘More Than a Pub’ finance package, the society has been able to obtain the funds necessary for the freehold purchase of the pub as a community asset.

Food, live music, and a family room have been put forward by the community as important elements in the pub’s development. Regular activities such as quiz nights, Young Farmers socials and being used for the local darts team and Euchre club (which lapsed after the pub’s closure) are set to resume. The society also hopes to revive an informal ‘Trades’ evening hosted by the pub which brought together tradespeople across the area one evening a week as well as creating new clubs for gardeners, writers, a book club and cinema club. After identifying individuals in the village with significant caring responsibilities, a carer’s support club is another opportunity to use the pub to bring the community together along with potential plans for a shop within the pub to service the village.

Katie Nightingale, Chairperson of Friends of the Newtown St Martin Pub said: “Whilst this journey has been long and arduous, we simply could not have achieved what we have without the incredible support from Co-operative & Community Finance. The process can be complex at times and the expert advice provided was truly invaluable. Our community is absolutely thrilled at what we have achieved and the re-opening of the pub will make a huge difference to our villages and surrounding areas.”

The Prince of Wales pub, Newtown-in-St-Martin

The loan finance from Co-operative and Community Finance is the very last loan from the original ‘More Than a Pub’ programme, a loan product created specifically to support Community Pubs, alongside a grant from the Plunkett Foundation funded by a Power to Change and the Ministry of Housing, Communities and Local Government (MHCLG). Co-operative and Community Finance were also able to provide extra finance from their ‘More than a Pub’ legacy fund and the pub group were successful in receiving a grant from the Community Ownership Fund. Tim Coomer, Business Development Manager Co-operative & Community Finance said: “This Pub group have been on quite a journey, and we are ecstatic that their hard work, perseverance, and determination has paid off in the end. The Prince of Wales is in a pretty pub in a beautiful part of the country, but this belies some of the real issues faced in rural Cornwall, where isolation, low wages, second home ownership and high costs of living can make it a challenging place to live for many. The Prince of Wales is a pub at the heart of its community and long may it be a success.”

The legacy ‘More Than a Pub Fund’ provides loan finance of between £75,000 to £150,000 available to Community Owned Pubs at a discounted rate of interest for members of the Plunkett Foundation, length of term ranges from five to twenty years. We can also help support groups access grant funding to help get them develop their business plans and pay for surveys, etc… through the Reach Fund. Please contact Co-operative & Community Finance for the full terms and conditions, and to discuss how your Community Owned Pub venture can be supported.

You can find out more about Friends of Newtown St Martin Pub by visiting their website.

September 8, 2022

Locals access finance for purchase and development of village chapel community centre

support Featured, Financing Community Ownership, News

Residents of Kingsley Holt have come together to save and repurpose their local chapel as a thriving community centre providing an essential meeting space, shop and café for the area.

Situated in the Staffordshire Moorlands just a few miles away from Cheadle, the village of Kingsley Holt has had to rely on its neighboring market town for local amenities in recent years after closure of the village’s last shop.

As well as a place of worship, Kingsley Holt Chapel has been an important community meeting space hosting all kinds of events, carnivals, Christmas fairs and carol services since its opening in 1937. Originally managed by the Methodist Church, the Chapel was closed for regular worship in June 2019 due to a dwindling congregation. Church trustees wanted to find a “new energy and vision” for the building and approached residents to help find alternative uses for the Chapel and retain it as a community asset. In response to this the local community had rallied together around the village’s 85 year old chapel to protect and retain it as a thriving community space.

Kevin Lloyd-Evans with Committee members at Kingsley Holt Centre

From then on, the community came together to help manage the centre activities and hire the venue out for events and meetings. After being informed in May 2021 by Methodist Trustees that the Chapel was to be sold, locals decided that the building was far too important and valuable to the village to let go and applied to the local council to register and protect it as an Asset of Community Value (ACV), listing was granted on the 9^thAug 2021. Soon after Kingsley Holt Centre Limited was registered as a Community Benefit Society and locals began to plan the purchase of the building.

Securing loans from Co-operative & Community Finance and Co-op Loan Fund (managed by CCF) along with a community share offer with investment from over 120 members; the committee has been able to purchase the building completing on the 5^th September 2022 and are now busy putting in place exciting plans to change the internal layout creating a new meeting space to increase capacity and convert an existing domestic kitchen into a new shop and café area.

Martin Wheeler, Chair of Kingsley Holt Centre Limited said: “When we first started on this project, we had to do an amazing amount of research. We visited other groups for advice and on one of these visits CCF was recommended to us. From the very first contact it was evident that this was an invaluable recommendation. Kevin worked very closely with us on this project from first contact providing advice, information access to funding in addition to loans. We are very excited about this project and it’s very reassuring to know we will have the expertise of CCF working alongside us going forward.”

Kevin Lloyd-Evans, Lending and Relationship Manager at Co-operative & Community Finance said: “Kingsly Holt is a great story of a community overcoming significant challenges to secure a community asset. Martin and the group have been amazing, and really battled through to make this happen. This really does give hope to community groups looking to secure community assets.”

You can keep up to date with Kingsley Holt Centre by visiting their website.

September 5, 2022

Funds secured for renovation of community club

support Featured, Financing Community Ownership, News

Harrogate residents have put in place enterprising and inspiring plans to develop their traditional working men’s club into a diverse and inclusive community asset bringing local people together.

A five-minute walk from Harrogate town centre, High Harrogate Working Men’s Club has been a regular haunt for locals since 1889. A member of the CIU and registered as a Co-operative Society since 2019, the club has been a focal point for the community evolving from having a singular role of providing an affordable social space to being an asset for the benefit of the community.

Securing a loan from Co-operative & Community Finance has meant the club can proceed with its ambitious plans to fully restore and renovate the space on the ground floor and the exterior of the building’s frontage. Working with a local developer the club will convert and extend the first and second floors into accommodation to form 6 new apartments.

Currently undergoing the process of migrating into a Community Benefit Society (CBS) to better represent the broader offers the business provides to the local community, the club intends rejuvenate facilities for the use of local clubs such as Judo, Pilates, Meditation and other indoor sporting activities. The modernised function room will also enable bookings for events, parties and live music creating revenue for the club as well as providing an accessible hub for the community.

Creating a new website and utilising social media pages to create a strong online presence, the newly named ‘High Harrogate Bar and Lounge’ will display the business’s revamped facilities, events and social role within the community not only to attract new customers but to further embed the club into the heart of the community.

Plans for the renovation are proving popular with locals and at the last AGM around 80 members attended unanimously expressing their support for the proposals. Kevin Lloyd-Evans, Lending and Relationship Manager at Co-operative & Community Finance said: “We are delighted to be lending again to a Working Men’s Club. Being able to respond to access to finance challenges is paramount to our work. We support membership organisations which are democratically controlled and collectively owned. This is a brilliant start as we now look to support other Working Men’s Clubs across the country.”

June 17, 2022

Boost for Youth Football in North Derbyshire

support Featured, Lending, News

A Youth Football League founded to provide opportunity for young people to participate in organisation football matches in North Derbyshire has secured funds to buy land and buildings to develop facilities for members and benefit the local community.

Currently based across three mini venues in Matlock, Chesterfield and Clowne, North Derbyshire Youth Football League (NDYFL) has been supporting young people and providing a league for over 300 teams and approximately 3,500 youth players since its founding 1947 and is part of the Football Association and affiliated to Derby County Football Association.

The league which has teams across age ranges and abilities from Under 7s to Under 18s, has now secured funds from Co-operative and Community Finance CCF, Co-op Loan Fund (managed by CCF) and Charity Bank.

NDYFL have agreed the freehold purchase of a former sports and social club in Hollingwood, Chesterfield with 8.87 acres of land to create a brand new HQ and Sports and Social Club with function rooms and facilities available to hire for member clubs and the local community. The league will be securing the buildings prior to redevelopment and meeting with the local community to discuss the plans. The addition of the site will give NDYFL some further capacity to accommodate new teams that have shown an interest in joining the growing league, building awareness and creating opportunities to develop and diversify youth football in the region.

Andy Bagshaw, Chairman of NDYFL said: “Attracting funding for a volunteer run organisation was a challenge. Many weeks of discussions with our bank and other finance companies ultimately failed to result in the investment we needed. We came across Co-operative and Community Finance (CCF) and they changed our whole perspective on what was achievable.

Kevin Lloyd-Evans and Tim Coomer were immediately supportive and guided us on taking advice from Co-operatives UK as well as helping us secure the finance we needed to complete the project. At all times we felt that C&CF ‘were on our side’ and could see the aims and importance of having our own facilities to provide youth football for hundreds of local children.”

Kevin Lloyd-Evans, Lending and Relationship Manager at Co-operative & Community Finance said: “We are really pleased to have invested in NDYFL. When they came to us, they were struggling to navigate the complicated maze of repayable finance. We were able to help by putting them in touch with support from Coops UK and The Access Foundation’s Reach Fund. By working with Charity Bank, we were able to leverage in significant experience, skills and additional finance to really add value to NDYFL’s investment experience. Our partnership model is a growing feature of our work. It enables us to support clients better and add value through the investment process.”

You can keep up to date with NDYFL’s exciting plans by visiting their website or Facebook page.

May 4, 2022

Community saves The Bell Inn

support Featured, More Than a Pub, News

Co-operative & Community Finance’s ‘More Than a Pub’ finance package has helped the residents of Frisby on the Wreake purchase and refurbish The Bell Inn, creating a pub owned and protected for future generations by the community.

As the only remaining pub in Frisby on the Wreake (situated on the Upper Wreake Valley of Leicestershire) owners of The Bell Inn approached local parish councillors when the pub closed its doors in April 2021, due to the lease not being renewed by previous tenants. Following a village meeting exploring the option of purchasing the community asset, ‘The Bell Inn Frisby Community Group’ was quickly formed with surveys being sent to 382 households in the village and wider rural catchment in May 2021.

Local MP Alicia Kearns with Pub Operations manager Steve Hardy and Pub Manager Lucy Jackson & Gordon Jackson

A positive response to the potential purchase from residents led to the formal registration of ‘The Bell Inn Frisby Community Group Limited CBS’ in August 2021 following ongoing community consultation they produced a Community Engagement Plan in the September. It was at this point that the vision, aims, and values of the community pub were established involving becoming a family friendly and inclusive hub for the community, and extending services to include a daytime café, business hub (with Wi-Fi and printing facilities), and installation of an Electric Vehicle charging point.

A community share offer was launched on 11^th October 2021 and after a slight extension of the deadline an impressive £302,000 was raised by the community with help from residents within the Melton Borough area as well as investors from across the Midlands, UK and even a some from overseas (including Germany, Hong Kong, Fiji, Australia and the US through previous residents of the village and family members living abroad).

As well as the purchase of the building the new society intends to refurbish and repair the courtyard area, buy outside furniture, and provide working capital for set up and stock for the bar. The Bell Inn intends for the membership and community to have a real say in the future direction and core values of the pub providing positive social impact, promoting inclusion and becoming a ‘hub’ for the community.

Residents with local Vicar David Harknett

Tony Bird, the Chairman of The Bell Inn Frisby Community Group, said “We have achieved so much in such a short space of time, but there is still a great deal to do. We have already erected scaffolding to give the exterior a facelift and the kitchens are undergoing complete renovation with a view to starting food service on Wednesday June 1st.”

Steve Hardy, Pub Operations Manager added, “We also have ambitious plans for the outside area and the conservatory. We debated delaying the opening, but once we’d completed the bar area and revamped the cellar, we just wanted get the doors open and start trading.”

The supportive loan finance from Co-operative and Community Finance comes from their ‘More Than a Pub’ fund, a loan product created specifically to support Community Pubs, as a legacy to the original Power to Change and the Ministry of Housing, Communities and Local Government (MHCLG) funded project, led by the Plunkett Foundation. Tim Coomer, Business Development Manager Co-operative & Community Finance said: “It’s fantastic to see another community take ownership of such an important village asset. I know the committee are keen to be really involved in the pub alongside a new manager and reject it becoming just a destination pub, by offering a reasonably priced range of products that are accessible to all.”

The ‘More Than a Pub Fund’ provides loan finance of between £75,000 to £150,000 available to Community Owned Pubs at a discounted rate of interest for members of the Plunkett Foundation, length of term ranges from five to twenty years. We can also help support groups access grant funding to help get them develop their business plans and pay for surveys, etc… through the Reach Fund. Please contact Co-operative & Community Finance for the full terms and conditions, and to discuss how your Community Owned Pub venture can be supported.

April 4, 2022

Residents Raleigh together to save local pub

support Featured, More Than a Pub, News

The community of East Budleigh have come together to purchase and renovate their local pub with the help of Co-operative & Community Finance’s ‘More Than a Pub’ finance package.

The Grade 2 listed Sir Walter Raleigh pub (named after the statesman and explorer born in the village in 1552) situated in the ‘Otter Valley’ East Devon Area of Outstanding Natural Beauty, has been purchased by locals through an impressive community share offer along with supportive loan finance from Co-operative and Community Finance.

Over £350,000 has been raised in just a matter of months from nearly 300 residents investing in the pub, after the previous owner approached the village to see if the community wished to save this community asset. A Founding Members group was formed and following early advice through the Plunkett Foundation and a positive response from the community, an offer was accepted in late 2021 with the support of the Parish Council. From there a public meeting was held in January 2022 attended by over 200 people who were invited to pledge their support.

As well as the purchase of the building, the funding will also go towards refurbishing the bar and attached accommodation, investing in equipment and stock and provide working capital. The pub intends to employ a manager, chef and at least one other member of staff with the opportunity for local volunteers to contribute also.

The Sir Walter Raleigh aims to encourage locals back and widen their offer to the walkers, cyclists and tourists visiting the area and have already begun exploring the potential to reconfigure the rear of the property adding an extension to open up more space for customers.

The community pub intends to encourage community-led activities and social groups to use the pub, operate a coffee shop in the morning, bring company and community to the old and isolated and encourage families with children to visit. Paul Smith, Vice Chairman said: “Securing the future of the pub is a great achievement for our village. The support from Co-operative and Community Finance has been fantastic, they were helpful, responsive, supportive and very professional in all our dealings. The loan application process was straightforward and the terms of the loan very fair. Opening a current account was a tortuous process, by comparison securing our loan couldn’t have been easier.”

The supportive loan finance from Co-operative and Community Finance is the first to come from their ‘More Than a Pub’ fund, a loan product created specifically to support Community Pubs, as a legacy to the original Power to Change and the Ministry of Housing, Communities and Local Government (MHCLG) funded project, led by the Plunkett Foundation. Tim Coomer, Business Development Manager Co-operative & Community Finance said: We are delighted to be able to support The Sir Walter Raleigh group, the Pub is the last remaining pub in the village, and it was vital to save it as a Pub for the village and community to enjoy for many years to come. East Budleigh has a good track record in supporting community owned ventures having established a Community Owned shop in 2008, which is highly successful to this day operated by a combination of volunteers and paid management”.

The ‘More Than a Pub Fund’ ’ provides loan finance of between £75,000 to £150,000 available to Community Owned Pubs at a discounted rate of interest for members of the Plunkett Foundation, length of term ranges from five to twenty years. Please contact Co-operative & Community Finance for the full terms and conditions, and to discuss how your Community Owned Pub venture can be supported.

September 14, 2021

Lending and Relationship Manager – recruitment opportunities at Co-operative & Community Finance

support Featured, News

Lending and Relationship Manager

Salary: Starting at £43,000 up to £50,000 pa + benefits.

Closing date: 10am, 13^th October 2021

Supportive loan finance to help people take control of their economic lives and create social benefit

This is your chance to be part of an award-winning organisation that has been supporting the co-operative and community business sector for almost 50 years and continues to influence and develop a unique market across the country.

Co-operative & Community Finance is the trading name of the ICOF family of businesses.

Industrial Common Ownership Finance Ltd (ICOF) was set up in 1973 and we have since created a number of related funds, all of which are democratically owned and controlled by the members. We provide supportive loan finance to help people take control of their economic lives and create social benefit.

We exclusively serve the co-operative and social enterprise sector, and nearly 50 years we have supported hundreds of businesses ranging from small community‑run enterprises to large award‑winning organisations. Through the provision of accessible finance, we have helped to create and preserve thousands of jobs within the social economy and supported the setup of many new and innovative co-operatives, employee buyouts, and community enterprises.

Our rates are competitive and unlike many high street lenders we don’t require personal guarantees.

We currently have over £4m of our own capital to lend, available to those that practise or support the principles of co‑operation, social ownership, and sustainable development. We also manage several other loan funds on behalf of other lenders.

About the role

Role Purpose:

To be accountable and responsible for commercial loan applications, policies, procedures, and processes. Accountability and responsibility in the achievement of commercial lending targets and budgets as agreed within the senior management team.

Key Role and Responsibilities

Achievement of lending targets, outputs and budget.
Manage a diverse portfolio of borrowers and ongoing post-loan relationship management.

Creation and management of network of intermediaries (referrals, reputation, broker agreements).
Appraise and carry out due diligence of loan applications. Review and make recommendations on loan applications and credit control cases for approval by the Credit Committee.
Supervise and provide guidance to the staff team in the undertaking of loan applications.
Work with the Development Manager to develop and implement sales and marketing initiatives.
Work with the Development Manager in the identification of new lending opportunities and funders.

Person specification

Ability to understand and interpret financial information and assess risk.
Commercially aware and prepared to help create new products or services to meet market needs
Excellent interpersonal communication and presentation skills together with the ability to communicate complex financial information with people from diverse backgrounds.
Effective workload prioritisation and time management skills.
A commitment to the ethos of the Co-operative and community business sector.
Ability to prepare reports for senior management and trustees, as required.

Excellent persuasion skills, particularly with funders and policy makers, will be vital; as will excellent analytical skills to interpret complex data and policies.

Please download the full job description and person specification in the how to apply section below.

Benefit package

Starting salary of £43,000 rising annually, 28 days holiday rising annually to 33 days after five years (NOT inc Bank Holidays), 10% Employer contributory pension, Flexible working patterns.

CCF is committed to the values of diversity and equality in building a co-operative sector both in its provision of services and in its employment policies and practices. We would particularly encourage applications from those who are underrepresented in our sector, such as women, transgender people, people with disabilities and people from Black, Asian, and Minority Ethnic communities.

How to apply

If you are interested in applying for this position, please download the application pack below.

Application Pack

The closing date for the role is 10am, Wednesday 13th October.

Longlisted candidates will be invited to online interviews on Wednesday 20th October and Thursday 21^st October.

Final interviews will be held in person in Bristol on Wednesday 27^th October.

For the online interviews you will need to have access to a computer with a camera and microphone and internet access.

If you have any queries on the application process – please email Alain on alain@coopfinance.coop

April 21, 2021

Community secures keys to The Locks Inn

support Featured, Financing Community Ownership, Lending, News

Residents of the Waveney Valley on the borders of Norfolk and Suffolk rallied together at impressive speed despite the restrictions of a global pandemic to purchase and renovate iconic riverside pub The Locks Inn.

The community benefit society that now owns the popular ex-mill and lock keeper’s cottage turned public house at Geldeston raised over £600,000 from an incredible 1,400 shareholders in just three months.

As well as through word of mouth in the local community, the campaign garnered enthusiastic support on social media with the pub’s first Facebook post being shared over 1,600 times, reaching over 100,000 people and gathering 355 comments of support leading to shareholders and donations coming from as far afield as Australia and Canada. The pub with local funding has worked with the local parish church of Beccles to purchase unwanted pews to help with additional seating keeping in line with the original furniture and keeping local.

Committee Member Christine Pinsent said: “The response from the share issue has been overwhelming and we have been inundated with volunteers due to fantastic memories local residents have of the pub.”

The group also received support from the More Than A Pub programme, which provides free advice and webinars, bursaries, grants and loans to communities seeking to buy their local, as well as those who are already trading. The programme is funded by Power to Change and is delivered by Plunkett Foundation working in partnership with Co-operative & Community Finance and the Key Fund.

Refurbishments are underway and members intend to use the More Than A Pub loan from Co-operative & Community Finance to advance two major projects in updating the sewerage system and access to the national grid. Christine Pinsent said: “The support from the More Than A Pub programme has been fantastic and has really helped us through the process.”

The first community owned pub in the Waveney Valley will be accessible to all, promoting social inclusion and involving all ages, with everyone able to have a say in the running of the pub and all the activities that are delivered.

The idyllic large outdoor space by the river makes the pub a popular stop off point for people visiting by boat while also attracting walkers, cyclists and visitors from local camping sites. The committee will also resurrect music and local traditional events making the pub fully inclusive and financially viable for the long-term future.

The Locks Inn Community Pub will open its doors to the public on 13 May after having three days beforehand to welcome shareholders to their pub.

Ian Rothwell, Investment Manager of Co-operative & Community Finance, said: “This is a lovely pub in a beautiful setting which is appreciated by local people, walkers, cyclists and boaters. With regular events such as beer festivals, story nights, musical performances and sessions the Locks Inn is a destination pub and certainly one that I will visit again once restrictions are eased.”

October 14, 2020

Community buys the Railway … (pub not trains)

support Featured, Financing Community Ownership, Lending, News

[photo: Directors of Saffron Walden Community Pub inspect their new purchase. Chair Dave Kenny in doorway.]

After a long journey with several delays the determined people of Saffron Walden in Essex now own the Railway Arms, an iconic pub that is part of the town’s industrial heritage.

It was over four years ago that local people started talking about saving the Railway Arms. It was clear that the pub company that owned it wanted to dispose of it and in January 2017 it was put up for sale. The campaigners managed to get it listed as an Asset of Community Value which put a six-month moratorium on the sale. They registered a community benefit society and held a share issue to raise investment to buy the pub. They made an offer in 2017 and a much higher one in 2018 but both were rejected. In April 2018 the owners took it off the market and started planning to redevelop the site.

After several applications for planning permission had been rejected the owners put the pub back on the market in December 2019. The community benefit society held a second share issue, partly to replace the investment that had been withdrawn when the previous attempts to buy had been unsuccessful. Eventually the owners accepted a new offer in July 2020, and on 12 October the Railway Arms finally reached community ownership.

The Chair of Saffron Walden Community Pub, Dave Kenny, is also an archaeologist. He said: “The Railway Arms is part of the industrial heritage of the town and it is also a lovely building. It is a large plot for a town pub with a garden, stables and other outbuildings that offer huge potential for community use. If we had not campaigned and eventually bought it, the site would probably have been redeveloped and all that history and community value would have been lost.”

The group received support from the More Than A Pub programme, which provides free advice and webinars, bursaries, grants and loans to communities seeking to buy their local, as well as those who are already trading. The programme is funded by Power to Change and is delivered by Plunkett Foundation working in partnership with Co-operative & Community Finance and the Key Fund.

Saffron Walden Community Pub now has 440 members who have invested a total of £227,000, which together with the grants and loans from More Than A Pub, mortgage finance from Triodos bank and £50,000 in share equity from the Community Share Booster programme, was enough to proceed with the purchase and renovation. The share offer is still open until 31 October – visit strap.org.uk for more information.

The joy in the community at ‘saving the Railway’ has been dampened by the announcement that Essex is now in Tier 2 (high) for anti-covid measures. The business plan for the Railway Arms, which included employing a manager, has been put on hold. Early preparation work is being done by volunteers and this is likely to continue for some time.

Dave Kenny said: “We did not want to rely on volunteers but we’ll need to do so over the coming weeks. It would be difficult to commit to new jobs at the moment. It’s difficult to say quite when the Railway Arms will open for business but when it does we will have the community on board, and we know people in the town will understand.”

Ian Rothwell, Investment Manager of Co-operative & Community Finance, said: “This is another example of a community saving its pub with a bit of help from the More Than A Pub programme. Being in an urban area, the Railway Arms is a bit different to many of the village communities that we have supported. The local community have demonstrated their support for the initiative by making the necessary investment, and I was impressed with the amount of voluntary effort that has got them this far. I’m confident that it will succeed in the long run despite the immediate difficulties caused by covid.”