The 'only pub in the village'
The Norton (public house), located in the village of Cold Norton Essex is a community pub run by a group of volunteers. The North is 'the only pub in the village' and is therefore a valuable asset to the community.
To ensure the long term sustainability of the pub the
local community needed to buy the pub and raise in the region
of £250,000. The local community proposed to fund the
purchase of the pub through a mixture of private donations, a commercial mortgage andcommunity shares.
The share issue was a great success and raised £105,000 and this is enabling them to negotiate with the owner to buy the premises.
The Community Share Issue fits the bill as it attracted mainly local investors, who wished to invest in a worthwhile local community project that gave them the opportunity of receiving a limited return on their investment and a very good chance that eventually they will get their money back.
Additionally, as the project qualified for 30% EIS tax relief this substantially increases the return on the investment.
Community Shares offered investors a once-in-a life time opportunity to continue the vibrancy and sustainability of the village and the surrounding area by:
Sustaining a place to meet friends and neighbours and improving the sense of belonging and community
Providing a central point for information on community events and local issues
Creating more jobs for local people
Providing an extended outlet for local producers/brewers
Protecting a local venue used for many activities from a drink with friends to luncheon clubs and host of many clubs and associations
The Norton Free House is a family (and dog) friendly pub situated in the heart of the village of Cold Norton. Local real ales, regular entertainment, beer garden, outdoor play equipment and traditional pub games can be found there. This May the Norton hosts their 4th Annual Beer Festival from 24th May to 27th May 2013. 30 Real Ales and Ciders from Breweries nationwide. To find out more about The Norton visit www.savethenorton.co.ul
or call 01621 826948