Gardeners Rest - Neepsend

[letitgrow 10]

May I ask if we could breakdown the £45k in wages on the forescast...seems a lot...?

[Agamemnon 10]

Hi and thanks for all the interest shown in the community buyout. It's six days from the share offer launch and we've already received £30,000 via our crowd-funder site. That's 30% in less than a week! Thank you all that are backing us, be that by investment or simply by spreading the word. It's an amazing start!

 

Our intention is as simple as it's honest:

We wish to purchase the pub from the current owners who are retiring;

We wish to maintain the current eclectic mix of customers that use the pub and keep it's unique atmosphere;

We also intend to create a space for people with learning difficulties to gain employment experience in a safe and mentored environment;

 

It really is that simple!

 

To answer a few of the questions raised.

 

The asset of community value (which stops the current owners from selling the pub for x amount of months) was considered but we decided that it may hamper the current owners from selling the pub, should our share offer fail to reach the required level. We don't wish to delay their retirement (we're nice guys...).

 

Is it an investment? Well perhaps not in the same way as putting 100k on the London Stock Exchange; we won't pay annual dividends. But on the other hand, we will pay 5% on your investment at the end of three years if you want to withdraw your shares (2.5% for investors under £1,000). That's better then most current saving accounts. The shares are also tax deductible at a rate of 30%. Moreover, it's an investment in a social enterprise that will try and do good things for people that need help.

 

Is the business a goer? We believe the Gardeners is a viable business (it already is and has been for 18 years under continuous ownership). We believe it should be ran by the community who use the pub; that it should be ran as a commercial enterprise on behalf of that community to enrich it, bind friendships, promote social actives, with all decisions been taken by the community who ultimately will own the space. It sounds like we're old hippies, we're not; we do however believe in social enterprise. We can pay for the many benefits it will bring through a profitable business whose profits will be reinvested in the social enterprise (the charitable bit about employment for people with learning difficulties, etc).

 

As for questions about the business plan, an internet forum isn't the right place for that kind of discussion, we do hope that potential investors will contact us via the website, or come to the Gardeners on Tuesday evening at 8pm for a Q&A session. In either case ,we're happy to talk through the business plan but it's better done in person.

 

Is the pub under danger of demolition? Quite simply, no one knows. A pub co has put in a very generous offer, if the share offer is successful we'll match that offer. But the current owners will sell the pub this winter and while they wish to see it remain a free house, if no reasonable offer is received then they may sell to a property developer. Either way, a Pub Co or flats, both are what we're trying to avoid. So our message is simple, the future is uncertain, but we've put our cards on the table and we've said what we'd like to do with the business. If our message appeals to you, we'd love for you to help.

 

Thanks!

[crookedspire 10]

Hi and thanks for all the interest shown in the community buyout. It's six days from the share offer launch and we've already received £30,000 via our crowd-funder site. That's 30% in less than a week! Thank you all that are backing us, be that by investment or simply by spreading the word. It's an amazing start!

 

Our intention is as simple as it's honest:

We wish to purchase the pub from the current owners who are retiring;

We wish to maintain the current eclectic mix of customers that use the pub and keep it's unique atmosphere;

We also intend to create a space for people with learning difficulties to gain employment experience in a safe and mentored environment;

 

It really is that simple!

 

To answer a few of the questions raised.

 

The asset of community value (which stops the current owners from selling the pub for x amount of months) was considered but we decided that it may hamper the current owners from selling the pub, should our share offer fail to reach the required level. We don't wish to delay their retirement (we're nice guys...).

 

Is it an investment? Well perhaps not in the same way as putting 100k on the London Stock Exchange; we won't pay annual dividends. But on the other hand, we will pay 5% on your investment at the end of three years if you want to withdraw your shares (2.5% for investors under £1,000). That's better then most current saving accounts. The shares are also tax deductible at a rate of 30%. Moreover, it's an investment in a social enterprise that will try and do good things for people that need help.

 

Is the business a goer? We believe the Gardeners is a viable business (it already is and has been for 18 years under continuous ownership). We believe it should be ran by the community who use the pub; that it should be ran as a commercial enterprise on behalf of that community to enrich it, bind friendships, promote social actives, with all decisions been taken by the community who ultimately will own the space. It sounds like we're old hippies, we're not; we do however believe in social enterprise. We can pay for the many benefits it will bring through a profitable business whose profits will be reinvested in the social enterprise (the charitable bit about employment for people with learning difficulties, etc).

 

As for questions about the business plan, an internet forum isn't the right place for that kind of discussion, we do hope that potential investors will contact us via the website, or come to the Gardeners on Tuesday evening at 8pm for a Q&A session. In either case ,we're happy to talk through the business plan but it's better done in person.

 

Is the pub under danger of demolition? Quite simply, no one knows. A pub co has put in a very generous offer, if the share offer is successful we'll match that offer. But the current owners will sell the pub this winter and while they wish to see it remain a free house, if no reasonable offer is received then they may sell to a property developer. Either way, a Pub Co or flats, both are what we're trying to avoid. So our message is simple, the future is uncertain, but we've put our cards on the table and we've said what we'd like to do with the business. If our message appeals to you, we'd love for you to help.

 

Thanks!

 

Any idea which pubco has put in an offer I hope its not either Enterprise Inns or Marston's given their track record.

 

Another question if worse came to worse and you could not raise enough money to buy this pub would you refund people's money they have invested or would you look for another pub to buy?

[Guest makapaka]

Hi and thanks for all the interest shown in the community buyout. It's six days from the share offer launch and we've already received £30,000 via our crowd-funder site. That's 30% in less than a week! Thank you all that are backing us, be that by investment or simply by spreading the word. It's an amazing start!

 

Our intention is as simple as it's honest:

We wish to purchase the pub from the current owners who are retiring;

We wish to maintain the current eclectic mix of customers that use the pub and keep it's unique atmosphere;

We also intend to create a space for people with learning difficulties to gain employment experience in a safe and mentored environment;

 

It really is that simple!

 

To answer a few of the questions raised.

 

The asset of community value (which stops the current owners from selling the pub for x amount of months) was considered but we decided that it may hamper the current owners from selling the pub, should our share offer fail to reach the required level. We don't wish to delay their retirement (we're nice guys...).

 

Is it an investment? Well perhaps not in the same way as putting 100k on the London Stock Exchange; we won't pay annual dividends. But on the other hand, we will pay 5% on your investment at the end of three years if you want to withdraw your shares (2.5% for investors under £1,000). That's better then most current saving accounts. The shares are also tax deductible at a rate of 30%. Moreover, it's an investment in a social enterprise that will try and do good things for people that need help.

 

Is the business a goer? We believe the Gardeners is a viable business (it already is and has been for 18 years under continuous ownership). We believe it should be ran by the community who use the pub; that it should be ran as a commercial enterprise on behalf of that community to enrich it, bind friendships, promote social actives, with all decisions been taken by the community who ultimately will own the space. It sounds like we're old hippies, we're not; we do however believe in social enterprise. We can pay for the many benefits it will bring through a profitable business whose profits will be reinvested in the social enterprise (the charitable bit about employment for people with learning difficulties, etc).

 

As for questions about the business plan, an internet forum isn't the right place for that kind of discussion, we do hope that potential investors will contact us via the website, or come to the Gardeners on Tuesday evening at 8pm for a Q&A session. In either case ,we're happy to talk through the business plan but it's better done in person.

 

Is the pub under danger of demolition? Quite simply, no one knows. A pub co has put in a very generous offer, if the share offer is successful we'll match that offer. But the current owners will sell the pub this winter and while they wish to see it remain a free house, if no reasonable offer is received then they may sell to a property developer. Either way, a Pub Co or flats, both are what we're trying to avoid. So our message is simple, the future is uncertain, but we've put our cards on the table and we've said what we'd like to do with the business. If our message appeals to you, we'd love for you to help.

 

Thanks!

 

Excellent post clarifying the situation-all the best- I hope you raise the money and keep it going as a freehold.

[letitgrow 10]

I'm not so sure....we've established that one of the major claims is the "threat" of demolition is non-existant. We've established, that this proposal does intend to sacrifice 30% of the potential space in to fact flats - a threat that also forms the basis of there proposal.

 

I'd be interested in exploring the term "PubCo"....what does this actually mean in reality. Is there indeed any real threat of the Gardeners not remaining a free house?

 

Thanks

Edited October 21, 2016 by letitgrow
punctuation

[smiggs 10]

Flats seems like a non-starter to me as much as a pub might have a brilliant atmosphere it's still a flat above a pub which is not exactly desirable. I can't see it really being well sort after and with so many housing developments in the area.

[letitgrow 10]

Flats seems like a non-starter to me as much as a pub might have a brilliant atmosphere it's still a flat above a pub which is not exactly desirable. I can't see it really being well sort after and with so many housing developments in the area.

 

The current proposal, actually wants to create x2 new flats on the 1st floor and then the x2 existing flats...they appear to be very reliant on rental income... (granted I understand there's staff lodgings, of course)

Edited October 21, 2016 by letitgrow

[Xabi 10]

The current proposal, actually wants to create x2 new flats on the 1st floor and then the x2 existing flats...they appear to be very reliant on rental income... (granted I understand there's staff lodgings, of course)

 

Getting short term accommodation can certainly difficult though, something more affordable than living in a hotel, but without having to sign a long term contract.

 

The accomodation is more of a long term plan, so things might change over the course of the first year.

 

They're nearly at 50k so looking promising for them at this stage

[Agamemnon 10]

Thanks for those who have pledged their support, in a little over a week, we've already raised 45k towards our target of 100k. If anyone's interested in supporting but wants to talk about who we are and get to know us. One of our group will be at the Gardeners Rest on Tuesday evening at 8pm for a Q&A.

 

Thanks!

[gluedtopc 10]

http://www.thestar.co.uk/news/gardeners-rest-regulars-launch-100-000-appeal-to-buy-their-pub-1-8177254

Sheffield pub regulars are trying to raise at least £100,000 to buy their local.

 

"Eddy Munnelly and Pat Wilson, landlord and landlady of the Gardeners Rest in Neepsend, plan to pull their last pints in the near future.

 

The aim is to raise at least £100,000 by November 28. People can contribute as little as £100 or as much as £20,000 – but everyone who pays in gets the same voting rights in the new Gardeners Rest Community Society."

 

I've invested in this. Sounds like a great idea to save some of Sheffield's great local pubs! They've done a great video to advertise the campaign.

 

http://www.crowdfunder.co.uk/gardenersrest/

And it's going quite well-around £56k offered so far!!

[wrinkly67 10]

In an earlier post I recommended an ACV on the pub which you had decided against. On reflection, I think you made the right decision - time is of importance and an ACV only gives the right to bid, not the right to buy. Further down the line it may be a consideration. As I said before, as a small village we managed to do this and now have a lovely, thriving pub again. I'm confident you can do it too and wish you well.

[Agamemnon 10]

Thanks for the support, we're almost at £61,000. It's great that so many people have invested and want to be part of an exciting community venture. Those of us who acted as trustees for the community association can't wait to meet all of the new members!

 

---------- Post added 01-11-2016 at 12:34 ----------

 

Just a reminder that if anyone would like to meet with us and discuss the Gardeners Rest share offer, some of us will be in the gardeners for a Q&A session tonight (Tuesday) at 8pm.

 

Thanks

 

---------- Post added 04-11-2016 at 18:57 ----------

 

We're well on the way to our goal - make sure we get over the line. Invest and share today: http://www.crowdfunder.co.uk/gardenersrest

Edited November 4, 2016 by Agamemnon