At At the heart of of the Com Communit ity an and the hear art of of the Sou South Downs Nation ional al Par ark Village Meeting January 18 th 2019
To Today ay ay • Update – Peter Gibbon • Feed back the results of the questionnaire – Sally Kayworth • Briefing by the Plunkett Foundation – Mark McTaggart • Present the different ways we plan to fund it and our timeline – Nico Dekker • Q&A – gain further views from the community and answer your questions • FAQ’s - Thanks 2
Up Update Community Benefit Society (CBS) set up - a not for profit organisation • where any profit made must be used for the benefit of the community Have Financial Conduct Authority approval (no. 7991) • Have applied to SDNP and CDC for change of use application and • started to prepare plans for the building and site Taken advice from the Plunkett Foundation and various similar • exercises to come to the best structure and organisation rules Subject to us raising the funds we have agreement with the owners to • purchase the Blue Bell. Exchange end March and complete end April 2019 Our website is up and running www.bluebellhub.org • Account being set up with Handelsbanken in Petersfield • We’ve joined the SDNP visual identity scheme a ‘marque’ that • supports the National Park and all the businesses with it
Th The Committee • Philip Jackson – President • Peter Gibbon – Chairman • Nico Dekker – Vice Chairman – Business plan and project management • Frances Russell – Parish Councillor – Grant funding • Sally Kayworth – Community • Gill Buchanan – Tenant and retail • Alan Massey – IT, web and social media • Jonathan Harvey – Legal As per the articles of a CBS the committee automatically retire at end of year 1
Qu Question onnaire Sent out 200 questionnaires to the village and surrounding area – c70 replies Been reviewed by a new member of the committee Results 6
If our pub in Cock cking was saved by the co community would you or any member of your ho house useho hold d use use it ? ? Yes: 82% • Seldom/occasionally • Yes: 56 (82%) • No: 7 (10%) No • Seldom/occasionally: 3 (4%) • Did not answer: 3 (4%) Yes Question 1: If our pub in Cocking was saved by the community would you or any member of your household use it? 0 50 100
Wh What additional or community services wo would you like to see offered? • A shop/café/post office • After-school clubs, walking groups and pop-up health services (although, the village hall was also suggested as being a more suitable venue) • Computer training, a meeting place for older residents, bike repairs, singing and discussion groups, live music, a book club and cash machine • A noticeboard to include information of South Downs trails, local events and groups taking place at the less central Village Hall 8
Wh What kind of catering would yo you like to see? 'good quality pub grub' /'traditional pub food' using local produce and at reasonable prices. 9
Wh What activities would you be interested in? • Pub quizzes • Darts and other pub games • Music nights and theme nights • Whist drives, skittles, nature groups, bike repairs, computer advice, meetings- particularly for the elderly, coffee mornings 10
Ho How important is it to have e a pub in Co Cocking? • Important or very important: 73% Did not answer the question 1 2 3 4 Very important- 5 Question 6: On a scale of 1-5, how important do you think it is to have a local pub in Cocking? 0 10 20 30 40 50 11
If If t the s shop/p /post o office m moved t to t the hub hub woul uld d you u us use it? • Yes: 94% Other No Yes Question 7: If the shop and post office moved to the hub would you or any member of your household use it? 0 10 20 30 40 50 60 70 12
Ho How important is it to have e a shop & post of office in Coc ocking? • Very important 85% Did not answer the question 1 2 3 4 Very important- 5 Question 12: On a scale of 1-5, how important do you think it is to have a shop and post office in Cocking? 0 10 20 30 40 50 60 70 13
The Plunkett Foundation Mark McTaggart 14
About the Plunkett Foundation Charity founded in 1919 by Sir Horace Plunkett We help rural communities to overcome problems through the creation of community owned co-operatives Problems including access to daily services, withdrawal of public services, erosion of community cohesion, employment opportunity, loneliness and isolation... We provide practical support such as business advice, study visits and mentoring, together with membership benefits such as networking opportunities, information, and signposting to approved suppliers
What is a Community Pub? Owned by members Membership is open and voluntary Governed democratically See the Plunkett Benefits go back to the Co-operative Pubs community A Better Form of Business Report
Some statistics! There are 85 existing Community pubs, with 153 in the pipeline! Average shares raised - £285,413 Most groups have chosen a Community Benefit Society structure. 100% Success Rate
What is a Community Benefit Society? Form of Cooperative • Limited Liability • Can issue withdrawable share capital • One member one vote • Large membership • Can pay interest on shares • Asset lock •
Why be a Community Benefit Society? Benefits wider community You own the pub and are in control People investing are more likely to use the pub Community share capital a social investment with some financial benefit Fair and democratically run
FAQ’s What are community shares? • Withdrawable share capital that can only be issued by CBS’s Why should I buy a community share? • To help secure the Bluebell for your community and to have a say in it’s future Do shares give me voting rights? • Yes, everyone has an equal voice regardless of their shareholding and you get to vote at AGM’s and stand for management committee election How do I get my money back? • You can withdraw your shares after 3 years and with 3 months notice. You can’t sell or transfer your shares; withdrawals are funded through surpluses or new capital from members Will I make money on the shares? • The share price cannot go up, but could go down. However, the investment is primarily a social one, to secure your community pub. Interest can be paid after 3 years, if the society thinks it is in a position to do so What if the business fails? • The pub could be sold and after paying creditors, shares repaid
The Half Moon, Balcombe www.halfmoonbcpl.co.uk
The Bevy www.thebevy.co.uk
The Fox and Hounds Denmead www.foxandhoundsco-operative-pub.uk
The Blue Bell Hub Plans A strong Vision for what your community wants Offers economies of scale by combining Pub, Shop and PO Financial modelling is robust Finance targets ambitious but achievable With your support, the pub can be a success
Different ways we plan to fund it and our timeline
So Source ces s of possi ssible funding Grants: Many different types of grants are available. Success will depend on meeting the criteria of the funding organisation WSCC, CDC, SDNPA, Rural Dev Programme, Princes Countryside Trust, CAMRA, LEADER, Big Lottery, etc. The Plunkett Foundation: More than a Pub Scheme Community Shares: People to purchase shares in the enterprise and receive interest after 3 years Loans: From individuals with links to the village plus banks, businesses and organisations Donations: From individuals, businesses and organisations with links to the village and the area Fundraising: Running community events e.g. coffee mornings, sponsored walks. Crowdfunding: Raising small amounts of money from a large number of people 26
Cos Costs Costs Acquisition cost 470000 Stamp duty 13000 Legal fees 2000 misc project costs 3000 refurbishment 87000 contingency (30%) 26000 working capital** 36000 total project cost 637000 27
Funding Sources Funding sources pledged outstanding Grants 200000 0 200000 Shareholding 120000 10000 110000 Donations 117000 * 20000 97000 Loans private 160000 130000 30000 Bank loan 40000 0 40000 28
Loan Repayments Loan repayments source rate amount annuity duration bank 6% 40000 5328 10 yrs private loans 3% 160000 18534 10 yrs shareholder returns 3% 120000 3600 indef Total debt servicing charge 27462 29
Timeline Milestone/Task Date Project launch 18 January Shares Offer Early February Work up refurbishments February and March Select tenant February and March Obtain planning permission February to April Decision to proceed Mid March Exchange contracts 31 March Public meeting 2 5 April Completion of purchase 30 April Refurbishment April to July Public meeting 3 17 May Volunteers and activities development June to August Public meeting 4 26 July Grand opening August 30
Next Steps Grant funders/lenders/donors Launch shareholder scheme Create a ‘work force’ who will help us transform the Blue Bell and its garden Please fill in contact forms so we can keep you up to date or visit our website Next meeting 5 th April 31
Th Than ank you – An Any que questi tions? ns? Courtesy of the Midhurst and Petworth Observer 32
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