Community strives to buy closed local

A community organisation that is trying to buy its local pub is now offering shares in the venue in a bid to raise funds for its reopening.

The Miners Arms Community Association (MACA) is working towards a community buy-out of the local pub, after its namesake site closed in 2020.

Residents of Nenthead, Cumbria, close to the borders of County Durham and Northumberland, formed MACA and have been working towards the community taking ownership of the local pub and reopening it to the public.

The next step in the campaign has been to launch a pledge in principle where supporters can make a pledge to buy shares in principle of The Miners Arms. 

"A pledge in principle asks how many shares you think you may be willing to buy,” says Simon Walker, chair of MACA. "Each share costs £1 and the minimum amount of shares you can purchase is 100. Although there isn’t a commitment at this stage, being able to show the support for the project is vital to help secure grants from other organisations.

"The support we have had already is tremendous but there is a lot of hard work ahead and I would encourage anyone who feels able to make a pledge."

MACA has now formed a Community Benefit Society registered with the Financial Conduct Authority and intends to launch a full share offer in the spring of 2024. Anyone can purchase shares in The Miners Arms. In exchange they become a member of the Community Benefit Society and have a say in how the pub is run in the future.

Pledges in principle can be made at minersarmsnenthead.com.

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