Open Share Offer

Just so you have some background, here is an update on where we are:

The Kingstone Community Society was formed in 2018 with the specific aim of saving The Shrewsbury Arms for the use of the present and future generations of Kingstone and its’ surrounding villages.

 

The pub is currently trading very successfully, and we have a lease with our wonderful tenants until 2027.

 

When the property was purchased the roof structure was identified as needing regular inspections and regular remedial patching work would have to be carried out. It was our intention to nurse the roof along until our mortgage finished in 2029.

 

In 2023, an opportunity arose to bring this work forward. You may be aware that we have been awarded a grant of up to £179,000 from the Community Ownership Fund to insulate and repair the roof of the building. The offer of having 80% of the cost funded was too good an offer to pass up.

 

It does mean however that we may need to spend about £37,000 of our own funds against this grant, dependent on the final costs of the works.

 

We have the large majority of this amount available, but in order to bridge a potential gap, we have decided to launch our Open Share Offer.

 

We would love you to join the 214 (and growing!) shareholders who have made the dream of a Community pub happen.

 

What are the benefits in being a shareholder?

• Involvement in an important aspect of village life.

• Helping to preserve a place to enjoy with friends and family.

• Ensuring that Kingstone and the surrounding area remains an attractive place to live for existing and new residents.

• Interest payable on your investment subject to profitability. (Estimated at 3% to 5% pa).

 

If you have any questions, please don't hesitate to email: kingstonecommunitysociety@gmail.com or ring Bill Pearson on 01889 500367 or Siobain Mathie on 01889 500349.

 

We will be happy to talk to you.

 

Best wishes

 

 

 

On behalf of The KCS Team