GUSSAGE COMMUNITY BENEFIT SOCIETY LIMITED Reg. No. 7116
Our aim is to secure the long term future of The Drovers Inn as a flourishing pub for the benefit of the community, by vesting ownership in a society controlled by the community and by running the pub profitably.
The society has already raised funds to purchase, refurbish and maintain The Drovers Inn. The pub is leased to a professional tenant who is responsible for the operation of the public house.
Share issue 2 is now open to raise funds for further refurbishment including providing easy access facilities and other projects that will benefit the community. Please contact us if you want to buy shares.
Strategic Plan and Benefits to the Community
The Society has raised funds in order to purchase, re-furbish and maintain The Drovers Inn Public House, Gussage All Saints for the benefit of the community. It has let the pub to a professional tenant who is responsible for the operation of the public house. Other activities may be undertaken at the discretion of The Management Committee and for the benefit of the community.
Our belief is that the Pub and the site it occupies are vital amenities for Gussage All Saints and nearby villages and that the best interest of the community will be served by acquiring the pub through a limited liability Community Benefit Society. This legal structure is explained in detail in the society rules document.
This will enable the village to secure and safe guard the pub for the foreseeable future.
Our original intention was to finance the acquisition and subsequent improvement projects, initially through a community share offer and commercial loans. We raised more than our target of £155 000 to purchase the pub and are now continuing to fund raise to pay for the refurbishment. A second share issue was released in August 2016 to raise funds for further improvements. Any funds we raise will reduce our dependence on commercial funding and the associated interest costs. Other sources of funding will be pursued but timescales for grant funding are notoriously uncertain and were excluded from the original business plan for this reason. Any grants awarded would be used to reduce the loan capital required or enhance the facilities of the premises.
This represents a fantastic opportunity for Gussage All Saints and nearby villages to continue to strengthen the vibrancy and sustainability of our community. This purchase is already having many benefits, including:
- Maintaining a place to meet friends and neighbours and improving the sense of community;
- Providing a central point for information on community events and local issues
- Securing the central part of the village by and for the community;
- Improvements to the fabric of the building;
- Creating opportunities for employment;
- Injecting money into the local economy;
- Providing a hospitality venue for local groups, tourists, weddings and funerals.
Business Model and Finance
A detailed business plan was produced prior to purchse and is still available for you to view from any of the Management Committee. The business plan continued to evolve as we appointed a tenant and refurbished.