Sidbury Community Enterprises bids to buy Red Lion, Sidbury & launches vision for pub

Since May 2013 a campaign has been underway to retain the Red Lion pub in Sidbury, East Devon. The pub was put up for sale last April by its owner, Punch Taverns.

In September the Red Lion was listed as an Asset of Community Value by East Devon District Council and as a result a moratorium on the sale of the pub to anyone, other than the campaigners, was introduced for 6 months. If the Red Lion is retained it will be the first community owned pub in East Devon.

During the moratorium period Save The Red Lion Campaign established an Industrial Provident Society limited company – Sidbury Community Enterprises Limited – through which it would seek to purchase the Red Lion. Over the past three months or so Sidbury Community Enterprises Limited have been diligently working through its business assumptions and financial projections as it has developed its Business Plan. This is now completed.

Within the Business Plan a clear and exciting vision for what the future Red Lion business should look like has been created. Sidbury Community Enterprises Limited’s Vision Statement explains that if the Red Lion was purchased by it, on behalf of the local community, it would be operated as a reinvigorated community village pub.

This Vision Statement is now being distributed to residents across Sidbury. Sidbury Community Enterprises Limited hopes that having read and been enthused by the Vision Statement, even more residents will register their interest in purchasing shares in this new venture. When the shares are sold they will be in £50 denominations, up to a total individual share ownership of £20,000.

In promoting the Vision Statement, Chair of both Save The Red Lion Campaign and Sidbury Community Enterprises Limited, Fred Burnett said “We want the Red Lion to be far more than just the pub in the village. Sidbury Community Enterprises Limited will create it as a key social hub for the local community, at the heart of the village. The Red Lion will be owned by many local people who will have invested in it as a business. It has been listed by East Devon District Council as an Asset of Community Value. We intend to make it live up to that listing by inviting our community to use the Red Lion as a base for many community activities.”

Before the shares are sold Sidbury Community Enterprises Limited has to successfully purchase the Red Lion. That process has now started with the company yesterday making a formal offer to buy the pub. In just over 8 months the campaign to retain the Red Lion has gone from being a reactive campaigning group to proactively being able to offer to buy the Red Lion as the first community owned pub in East Devon!

Sidbury Community Enterprises said “The offer that we have made to buy the Red Lion from Punch Taverns is a credible and realistic one. We have spent three months or more obtaining professional advice as to what the property is really worth, how much work is needed to upgrade it, how much that work will cost and whether we can create a viable business on that basis”.

“Sidbury Community Enterprises Limited has a clear vision for a successful Red Lion business that will support and encourage community activities and organisations. We urge Punch Taverns to accept our offer and allow the Red Lion to get its roar back. Sidbury’s community needs to secure the future of the Red Lion. Sidbury Community Enterprises Limited is determined to do that”.

The Red Lion could now become the first community owned pub in East Devon. Details about the vision for the pub are at http://thepubinthevillage.blogspot.com or request a copy by emailing thepubinthevillage@gmail.com.